MANGALURU: District Congress Committee (DCC) held a protest in opposition to the merger of Vijaya Bank in entrance its regional administrative center near Ambedkar Circle in the city on Thursday.
Opposing the merger of Vijaya Bank with Bank of Baroda, former MLA JR Lobo mentioned Daskhina Kannada had loved the honor of being the cradle of financial institution. "The district has given birth to five major banks in the nation, but it is unfortunate that a bank born in the region has been merged with another for the first time. The decision to merge a profit making bank with loss making ones is really condemnable," Lobo mentioned.
He lamented that the problem was once no longer conveyed to the central executive though a protest held through the Congress in opposition to the financial institution merger six months ago.
Condemning the merger move, DCC president Harish Kumar mentioned Vijaya Bank were lending money to deficient farmers and all sections of the society.
Former minister Ramanath Rai mentioned whilst Attavar Balakrishna Shetty founded Vijaya Bank thru his onerous work and strenuous efforts, bankers like Mulky Sunder Ram Shetty strived to take forward the legacy. “It is a black day for the people of Dakshina Kannada that a outstanding financial institution that provided employment opportunity to hundreds is being merged with any other,” he mentioned and advised the central executive to withdraw it determination to merge Vijaya Bank.
The party staff additionally held protests near DCC administrative center and at Kankanady.
Advocate Dinesh Hegde Ulepady, who convened the meet, mentioned financial institution merger would affect the potentialities of smaller banks, which were merged with any other. “The provide economic situation is not favorable for financial institution merger. We need to look at the consequences of previous financial institution mergers came about in the country. There are chances that the small branches of the merged banks could also be closed since the main banks is not going to show hobby in the merged banks. The want of the hour is to make country’s financial system solid. Vijaya Bank, which was once founded for farmers, by no means recorded loss,” he added.
Opposing the merger of Vijaya Bank with Bank of Baroda, former MLA JR Lobo mentioned Daskhina Kannada had loved the honor of being the cradle of financial institution. "The district has given birth to five major banks in the nation, but it is unfortunate that a bank born in the region has been merged with another for the first time. The decision to merge a profit making bank with loss making ones is really condemnable," Lobo mentioned.
He lamented that the problem was once no longer conveyed to the central executive though a protest held through the Congress in opposition to the financial institution merger six months ago.
Condemning the merger move, DCC president Harish Kumar mentioned Vijaya Bank were lending money to deficient farmers and all sections of the society.
Former minister Ramanath Rai mentioned whilst Attavar Balakrishna Shetty founded Vijaya Bank thru his onerous work and strenuous efforts, bankers like Mulky Sunder Ram Shetty strived to take forward the legacy. “It is a black day for the people of Dakshina Kannada that a outstanding financial institution that provided employment opportunity to hundreds is being merged with any other,” he mentioned and advised the central executive to withdraw it determination to merge Vijaya Bank.
The party staff additionally held protests near DCC administrative center and at Kankanady.
Advocate Dinesh Hegde Ulepady, who convened the meet, mentioned financial institution merger would affect the potentialities of smaller banks, which were merged with any other. “The provide economic situation is not favorable for financial institution merger. We need to look at the consequences of previous financial institution mergers came about in the country. There are chances that the small branches of the merged banks could also be closed since the main banks is not going to show hobby in the merged banks. The want of the hour is to make country’s financial system solid. Vijaya Bank, which was once founded for farmers, by no means recorded loss,” he added.
Don’t merge Vijaya Bank with Bank of Baroda, people urge Centre
![Don’t merge Vijaya Bank with Bank of Baroda, people urge Centre]()
Reviewed by Kailash
on
January 10, 2019
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