September 7, 2019
Bangla CM writes to PM urging withdrawal of bank mergers
Chief Minister Mamata Banerjee wrote to the Prime Minister yesterday (September 6) protesting the Centre’s unilateral decision to merge two public sector banks headquartered in the city without consulting the State Government.
Expressing concern, she said the mergers and the threat of shifting of the banks’ headquarters will affect the developmental momentum of the State. Hence, she urged the Prime Minister to not to go for the bank mergers, announced on August 30.
The banks are United Bank of India and Allahabad Bank, which will merge with Punjab National Bank and Indian Bank, respectively. These two mergers are part of the Central Government’s announced plan on public sector banks to bring down their number from 27 to 12.
Source: moneycontrol.com
