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Don’t merge banks: VCK

Viruthalai Chiruthaigal Katchi founder Thol. Thirumavalavan on Wednesday urged the Centre to reverse the decision to merge Vijaya Bank, Dena Bank and Bank of Baroda. He said the decision to merge the nationalised banks was taken without consulting the employees of the banks and should be reversed.

“Many have said that the merging of nationalised banks to create a few ‘big banks’ would negate the very idea of creating them to provide access to banking in poor and rural areas. Two of the three banks are facing severe debt problems,” he said. The VCK leader said even those supporting the idea had said only profitable banks should be merged.

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