Bank merger: Candlelight stir in M'luru on Oct 18

Bank merger: Candlelight stir in M'luru on Oct 18

Members of the Joint Committee of Trade Unions (JCTU) and United Forum of Bank Unions (UFBU) will organise a candlelight march in the city on October 18, opposing the merger and privatisation of public sector banks.

The protest march will be held from Town Hall to Corporation Bank premises.

Addressing a press meet, JCTU leader H A Rao said, “Owing to the merger of banks, several branches have been closed down and poor people in rural areas are deprived of banking facility. While merging associate banks with State Bank of India, a total of 6,950 branches were closed down across India. Pensioners have to travel to distant places for banking purposes.”

UFBU convener Vincent D’Souza said, “National banks are the backbones of a nation’s economy. While there were only 8,262 branches prior to nationalisation of banks, the number of branches increased to 30,303 within 10 years of nationalisation. Currently, over one lakh branches of various nationalised banks have been serving the people of the country.
The closure of branches will stop the recruitment process.”

Sunil Kumar Bajal, CITU Dakshina Kannada district general secretary, said that members of several bank employees organisations, trade unions and students’ federations will join the protest against bank merger.