Bank mergers causing losses to people in Ongole

Ongole: The members of Syndicate Bank Employees Union (SBEU) and Syndicate Bank Officers Association (SBOA) staged a protest at the Syndicate Bank Regional Office, in response to the call given by the Syndicate Bank employees against merger of the bank on Friday.

Speaking on the occasion, SBEU vice-chairman Ch Kiran said there was no benefit of merging banks. SBEU state secretary M Narendra Babu said merging of banks would be a huge loss and a disadvantage for the middle class people, farmers, small businessmen in the days to come. He strongly condemned the policies which were against the benefit of the people.

SBOA Zonal committee member Dinesh Reddy said that the government should take the responsibility to collect long pending debts to the banks to the tune of lakhs of crores.

He said that if the bank merger proposal was not taken back the government will face serious consequences, he added. Association members K Venugopal, R Sambasiva Rao, UFBU convener V Ramachandra Rao and others were present.