The real agenda of the government in merging banks is to help big corporates as consolidation of the banks will not result in recovery of huge bad loans, said a top official of the All India Bank Employees' Association (AIBEA).
Opposing the merger of 10 public sector banks into four, CH Venkatachalam, General Secretary of AIBEA, in a statement issued said in the name of banking reforms the government is enabling banks to help corporates.
Mr Venkatachalam said that last fiscal the public sector banks posted a gross profit of Rs.150,000 crore. Owing to the provisions towards bad loans, there was a net loss of about Rs.66,000 crore.
According to him, the merger of banks will not result in recovery of bad loans. On the contrary, the merger of five associate banks of the State Bank of India has resulted in increased bad loans.
Pointing out at the Punjab National Bank, that failed to detect the Nirav Modi fraud, Mr Venkatachalam wondered how banks when they become bigger could monitor effectively.
The government on Friday announced a mega plan to merge 10 state-run public sector banks into four large entities to address economic concerns.
2 comments:
Oye. Chv. Lal Salam. Wale. Much proper demand Kar. Officers are demanding good. Hike. And you non sense. Never demand. Good hike. Every employee of bank is abusing. You. Have you never heard. Have you never realized why everyone is cursing you. If you cannot. Manage. Good hike. Please. Leave. G s post listen Crow and other animals will eat your body. Abe leave it. You will have to pay. Here on this. Earth. Every. One in banks is praying to God for your. Bad. Think. Again think. Sit and compare center govt peon salary withbank employees and you your self feel ashamed what you people have done to bank fraternity. You will understand when God throw you on hospital bed. And insects will eat. You
As per Chv statement Governmentis helping corporates by merging PSBs.
Let chv help the workforce following him blind folded to get wage increase.
Whenever he is questioned for late steelement he will pinpoint any govt.
initiative and drag on the employees to resort to a day or two strike and wagecut.
Merger is not at all concerned with our interest. It is the duty of the government.
Elected representatives will look after that in the proper forum.
You are none to question the efforts of the govt.
Post a Comment