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Monday, September 2, 2019

RSS’ labour wing opposes bank merger, says govt hasn’t learnt from earlier mistakes

The Bharatiya Mazdoor Sangh (BMS), labour wing of the RSS on Saturday criticised the bank merger plan announced by Union Finance Minister Nirmala Sitharaman saying it was done without any study and it will only protect interests of corporate houses.
“No serious study was done in this. It seems the government has not learned lessons from earlier mistakes. There will be dislocation and retrenchment of employees. Decision like this will only help corporate bodies,” BMS’ all-India president Saji Narayanan said in Thrissur.
He said the BMS will support the agitation being planned by United Front of Banking Unions. The BMS is considered as the largest trade union in the country in terms of members and presence.
On Friday the Union Finance Minister had announced merger of six public sector banks with four better-performing anchor banks in a move to boost India’s ambition of achieving a $5 trillion economy.

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