Delhi: Members of United Forum of Bank Unions (Delhi State) stage protest on Saturday against the Bank Merger
Delhi: Members of United Forum of Bank Unions (Delhi State) stage protest on Saturday against the Bank Merger announced by the Finance Minister Nirmala Sitharaman, on Friday. Nirmala Sitharaman said, "Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of Rs 17.95 Lakh Crore". https://twitter.com/ANI/status/1167724672940572672?s=19 Sitharaman announced, “Canara Bank with (merge) Syndicate Bank, they will be the fourth largest Public Sector Bank with a business of Rs 15.20 lakh crores”. “Union Bank of India, with Andhra Bank and Corporation Bank, shall become the fifth largest public sector bank now”, added FM Nirmala Sitharaman. She also added, “Indian Bank with (merge) Allahabad Bank, they will be the seventh-largest Public Sector Bank with the business of Rs 8.08 lakh crores”. Furthermore, Nirmala Sitharaman said, “We shall continue with 2 banks which will have national presence – Bank of India with Rs 9.3 Lakh Crores of business size and Central Bank with Rs 4.68 Lakh Crores of business size”. https://www.ptcnews.tv/punjab-national-bank-oriental-bank-of-commerce-united-bank-second-largest-public-sector-bank-nirmala-sitharaman/ “After today’s announcement (merger of banks) post consolidation, India will now have 12 Public Sector Banks from 27 Public Sector Banks”, she added. However, the members of United Forum of Bank Unions haven't welcomed the bank merger ans is protesting for the same. -PTC News
