Merger Couldn’t Yield Positive Results : Sanjay Sharma

More than 10 lakh officers and employees of various Banks across the country  joined the protest against the government’s decision of merger of Vijaya Bank, Dena Bank, Bank of Baroda .

Today large number of employees and officers gathered and demonstrated in front of Regional Office of  Bank of Baroda against government’s irrational decision. While addressing the bankers UFBU Convener Sanjay Sharma said that government’s previous experiments of merger have been proved futile. Merger also associated bank with the largest nationalized bank couldn’t yield any positive result; on the contrary SBI has posted a net loss in year 2017-18 and has yet to come out of the red. He further said  public sector banks have vital role in the development of the country. The merger is against the spirit of welfare state as it will not only cut the employment opportunities for youth but also open the flood gates for the banks of Foreign origin. the merger undeniable paves the way for gradual shift toward the era of private sector banks.

merger will lead to the closure of many branches  at both rural and urban area depriving the people from availing banking facilities.

Sharma also said that government should learn from the global scenerio ; even the merger of Merrill Lynch Bank, Bank of America,Dresden Bank etc proved to be the big failure.

Senior leaders of various banks  including Sanjiv Bandlish, Ashok Goyal, Deepak Sharma, T. S. Saggu,Vipin Berri, B. S. Gill, H.S. Loona, Jotinder Singh, A.P Sharma,Pankaj Sharma , Harvinder singh and Kranti Rai were also present during the demonstration


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