Candlelight march to oppose bank merger on Oct 18

Mangaluru: Members of the Joint Committee of Trade Unions (JCTU) and United Forum of Bank Unions (UFBU) will protest the recently announced mega-merger of public sector banks (PSBs), by taking out a candlelight march in the city on October 18.

Three banks namely Syndicate Bank, Canara Bank and Corporation Bank founded in the region will lose their entity after the merger. The merger decision which came shortly after the decision to merge Vijaya Bank, which too was founded in Mangaluru with Bank of Baroda came as a rude shock to people of undivided Dakshina Kannada, is considered the cradle of banking.

The protest march will be held from Town Hall to Corporation Bank premises.

Pointing out that the merger of associate banks with State Bank of India resulted in closure of 6,950 branches thereby impacting several of their customers, JCTU leader H A Rao said that these mergers adversely affect the poor people in rural areas.

UFBU convener Vincent D’Souza expressed concern over employment generation following closure of branches.

Members of several bank employees organisations, trade unions and students’ federations will participate in the protest march, informed Sunil Kumar Bajal, CITU Dakshina Kannada district general secretary.