Dear Prime Minister
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Merger of Banks will lead to loss of identity, ethos and cultural affinity. Will reduce no of banks and branches. Increase NPA and add to demand for Capital. This will lead to privatisation.
Public Sector banks have contributed a lot to financial inclusion, reach to rural, semi urban areas and serve the masses. Privatisation will lead to services to the classes and the only motive will be profit and not service and economic development of the larger majority.
The Financial Resolution and Deposit Insurance bill will lead to loss of faith in the banking and Insurance and end in economic disaster.
So please intervene immediately to Stop merger, end Plans for Privatisation of Public Sector Banks and withdraw FRDI Bill
D T Franco
All India Public Sector and Central Govt Officers Confederation&
All India Bank Officers Confederation
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