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Bank merger `not a welcome sign'

By Our Special Correspondent

CHENNAI, NOV. 10. The Dravida Munnetra Kazhagam president, M.Karunanidhi, today said the proposal to merge Indian Overseas Bank with a bank in north India "was not a welcome sign."

In letters to the Prime Minister, Manmohan Singh; the Congress president, Sonia Gandhi, and the Union Finance Minister, P. Chidambaram, he said he was making a representation on behalf of the All-India Overseas Bank Employees' Union.

The employees were "agitated, shocked and worried," he said and wanted "suitable decision" taken "in consonance with the sentiments of 25,000 employees of Indian Overseas Bank."

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