Bank Mergers did on behalf of Corporates: Sitaram Yechury

For Immediate Release Bank Mergers did on behalf of Corporates: Sitaram Yechury Economists, Unionists and Political Party leaders discuss RBI reserve fund transfer & bank mergers New Delhi, September 3, 2019: “The transfer of RBI’s surplus to the government destabilises the RBI, makes India vulnerable in an on-going global and…

Banks merger ‘reflects’ Modi’s pro-corporate slant: Public sector units deserve to die

Several civil rights organizations, trade unions and their representatives have called the recent Government of India announcement of the merger of 10 public sector banks (PSBs) as a systematic step towards “privatising” them, adding, it is line with “a slew of waivers” for the so-called wealth creators, who are actually…

Transferring RBI surplus to govt, banks” merger to aggravate economic slowdown: Yechury

New Delhi, Sep 3 The twin moves of transferring RBI surplus to the Union government and merger of banks will further aggravate the slowdown the Indian economy is facing, CPI(M) general secretary Sitaram Yechury said on Tuesday. Speaking at a debate hosted by the Financial Accountability Network, he said the…

Mergers! Systematic Privatisation of Public Sector Banks

For Immediate Release Mergers! Systematic Privatisation of Public Sector Banks New Delhi, September 2, 2019: We the undersigned organisations and individuals condemn the Government’s decision to merge 10 Public Sector Banks (PSBs) and demand immediate withdrawal of the mergers; Stop Privatisation of the PSBs; Take genuine actions to recover bad…