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Round table opposes Centre’s move to merge banks
Speaking at the meeting, BEFI State working president R Ajay Kumar alleged that the NDA government at the Centre was seriously trying to entrust the nationalised banks to private sector. It was very harmful for the interests of common people, he added.
Vijayawada: A round-table on merger of nationalised banks demanded that the Union government withdraw the move and the State government should make a resolution opposing the merger on the lines of Kerala Assembly.
It also appealed to people, political parties and trade unions to make a success the strike opposing the merger on July 29. Representatives of Bank Employees Federation of India (BEFI) and leaders of trade unions participated in the round-table at MB Vignana Kendram here on Saturday.
Speaking at the meeting, BEFI State working president R Ajay Kumar alleged that the NDA government at the Centre was seriously trying to entrust the nationalised banks to private sector. It was very harmful for the interests of common people, he added.
The NDA government is arguing that merger of banks is compulsory for achieving the strength to compete at international-level and improve the banks’ credit capacity.
But the multinational banks, which were 10 times higher capacity than Indian banks were collapsed in USA, UK and France in 2008. The global meltdown did not impact the Indian banks because they were in government sector,” he said.
He further said that the government was citing another reason that the banks were suffering from losses which was false. “In fact, the nationalised banks gained profit of Rs 7 lakh crore in the last five years. Out of it, Rs 4 lakh crore was adjusted in account of bad loans. The real intention of the Central government is to give loans to big shots like Vijay Mallya without any hurdles,” he criticised.
CITU State secretary Ajaykumar said the government had initiated the move of merger of the SBI associated banks only to facilitate the process of banks privatisation. After completion of merger, the government would reduce some of bank branches and cut the number of employees.
The participants at the round-table appealed to the people that they should understand the intentions of Union government on banks merger issue and give support to the strike on July 29. AITUC leader Y Soni and others spoke.
