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Nationwide Bank Strike On September 26, 27 Against Mergers

Sunday, September 22, 2019, 12:19 PM

Around four-lakh bank-employees across the country are set to go on a strike on September-26, 27 to protest against the merger of public-sector-banks. "From September 26 to 27, four-organisations representing four-lakh-officers across the country will go on strike. We are opposing the merger of public sector banks as it is against the general public," R Sekaran, Secretary of AIBOC, Tamil Nadu unit, told ANI.
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Modi's bank bailouts may distract focus from India growth slump

Monday, September 2, 2019, 9:20 AM

India's biggest bank overhaul in decades may hurt the nation's bad-loan clean-up and slow the lending approvals needed to reverse its economic-slump. PM Modi's government late Friday surprised observers by announcing several state-bank-mergers, a move it said would create larger, healthier lenders. The merged lenders, which control more than half the assets held by Indian-banks, will get 552.5-billion-rupees of capital to jumpstart the process.

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