Karnataka   

Merger of banks opposed

By Our Staff Correspondent

MANGALORE, AUG. 22. The All India Bank Officers' Confederation (AIBOC) opposes any proposal for the merger and amalgamation of nationalised banks, a move first mooted by the Narasimhmam Committee, the Joint General Secretary of the confederation, T.R. Bhat, has said.

Addressing presspersons here on Sunday, Mr. Bhat said there were 19 nationalised banks and eight under the control of the State Bank of India. These banks were functioning efficiently and there was no need to merge them with others.

Noting that the Union Government was thinking on these lines, he said the Indian Banks' Association had formed a sub-committee for the purpose. The move to merge and amalgamate banks could be welcomed if it promoted efficiency as was expected by planners. But the previous experience on such moves had not yielded the desired results even in the West, he added.

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