Excelsior Correspondent
JAMMU, Dec 24: Emplo-yees and officers of all the Public Sector Banks working in Jammu Province, today held a massive demonstration in front of Punjab National Bank, Shalamar Chowk here to protest against the proposed move of merger of banks.
While addressing the demonstrators, Com Arun Kumar Gupta, general secretary, JPBEF, explained as to how such merger of banks was not only unwarranted but also counterproductive as well. “Such mergers will adversely affect the interests of the employees,” he said.
While explaining further, Com Gupta said that as compared to many countries of the world, banking density is relatively low in India and hence there is huge scope and need for expansion of banking industry instead of shrinking and consolidating it.
He further informed that in a country like India, large number of villages remain un banked even today and thus efforts need to be made to expand the Banking sector and nor shrinking it. “Government’s argument that Banks would become stronger by merger does not stand upto reason because the merger of associated Banks with State Bank of India has only created more problems and not solved any problem,” he claimed and added that the merger will only result in closure of branches, thereby create difficulties for the general public.
Comrade Gupta also informed that on December 26, all employees and officers of the Public Section Banks, Private Banks, Foreign Banks will be observing one day strike under the banner of United Forum of Bank Unions
The gathering was also addressed by Com Ashwani Pradhan, general secretary PNBOA, who said that the Banking expansion will result in more employment, both direct and indirect. “But by merger of Banks, future employments in Banks will come to a grinding halt. Instead of going in for mergers, Banks should go in for recovery of bad debts,” he suggested.
Others who addressed the gathering, included Ganesh Kumar, Manjit Singh, Jatinder Kumar, R K Bamba,T K Tikoo, Rama Kant, Rakesh Gupta,Vinod Gupta, A B Khajuria and Tara Singh.
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