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Udupi : Corporation Employees (United Forum of Corporation Bank Unions (CBEU-CBOD-CBOA-CBWG-CBOG), United Forum of Bank Unions, Udupi district, Corporation Bank Officer’s Organization, Corporation Bank Officer’s Union, Corporation Bank Employees Union, Udupi Zone) staged protest against Union Government’s decision to merge 10 public sector banks into four entities at Corporation Bank Founder’s Bank premises here on Monday, September 16, 2019.

Addressing to protesters, in favour of various Corporation Bank Employees Unions leaders alleged that the merger of Public Sector banks would mean closure of 6 banks which would disaster for the growth of economy of the country. BJP government at the centre had unveiled a mega plan to merge ten public sector banks into four to create fewer and stronger global-sized bankers as it looks to revive economic growth.

Government may call is merger which have been built up over the years will disappear from banking scenario. We are opposing the merger of banks. We will organize various protest programmes against the merger or amalgamation of banks.

The leaders said that it was a myth that customer service would remain the same or improve after the mergers result in closure of thousands of branches.

Since 113 years of history of Corporation Bank has been developed in Sri Krishna land which established by donor late Haji Abdulla Saheb in March 12, 1906. Since then as per the Swadeshi movement leader Lokamanya Balagangadhar Tilak, Corporation Bank has valuable record of good governance, such bank is going to close would disaster to the people of Sri Krishna land of Udupi.

We have seen that the merger of sister banks of State Bank merged with State Bank of India  as well as the merger of Vijaya Bank with Deena Bank and Bank of Baroda which would be failed. The scheduled bank growth would accelerate the growth of country’s economy. But, it would be accident that the consolidation of banks accelerates the growth of economy. Due to merger of banks could possibility of unemployment in the country. The reducing bank branches will reduce the right of the people of urban areas.

While maintaining there was no immediate fear of retrenchment since the banks were already facing a crippling staff shortage? We are in a situation when bank branches are closing down and yet it is not like the weak banks have been merged with strong banks. What are the criteria for compatibility? They asked.

The most important thing is that you need economic stability, mergers will not bad to revival. It doesn’t have any logic behind it. We see the banks from within, this will not help, they added.

The Union leaders warned to take immediate measures against the merger of banks throughout the country. They asked to take back the decision to merger of banks.

Udupi district Bank Employees and Officers Association leaders like Ram Mohan, Ashok Kotian, Hemanth U Kanth spoke during the protest meet.

The protest meet organized by Udupi district Bank Unions’ Convener Herald D’Souza which Manoj Kumar, Ramesh, Vanshikrishna, Jayan Malpe and others were present. Corporation Bank Udupi Zone Secretary Nagesh Nayak delivered vote of thanks. Large number of Corporation Bank employees and officers were present during the protest.