Bank strike
Source: The Sangai Express
Imphal, December 26 2018:
As part of All India Bank Strike by United Forum of Bank Unions (UFBU) against the Government decision merge Bank of Baroda, Vijaya Bank and Dena Bank without recovering the huge bad loans from Corporate defaulters, The UFBU Manipur State Committee too staged protest at SBI Imphal MG Avenue today.
Speaking on the sideline of the protest, UFBU Manipur State Committee Chairman S Bijoy said that the Union Finance Minister announced the decision to merge the banks on September 17 .
Merging the banks will not bring development, he claimed and added demanded Centre to revoke its decision to the merge the three banks.
More bank branches in rural areas will uplift and bring growth and development.
Merging of banks is not the solution to reach more people, he said.
Big corporates houses are responsible for 73.3% of bad loans of public sector banks, he said urging the Centre to recover the bad loans.