Support Bank Strike against Mergers and Bank Charges

For Immediate Release Support Bank Strike against Mergers and Bank Charges September 23, 2019: Financial Accountability Network, India stands in solidarity with the strikes and protest actions announced by the bank officers and employee unions. Four officers’ unions All India Bank Officer’s Confederation (AIBOC), the All India Bank Officer’s Association (AIBOA),…

Mergers to result in global banks? They would be worth $4 bn vs big banks’ capital $70-80 bn

Four officers’ unions, All India Bank Officer’s Confederation (AIBOC), the All India Bank Officer’s Association (AIBOA), the Indian National Bank Officer’s Congress (INBOC) and the National Organization of Bank Officers (NOBO), have called for a strike on September 26 and 27 to protest against the merger of 10 state-run banks…

The government is now trying to get rid of PSUs: VK Tomar

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

RBI must have a healthy reserve to prevent Rupee depreciation: Paranjoy Guha-Thakurta

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

All Government wants is to be seen as doing something: Prof CP Chandrasekhar

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

RBI’s autonomy died on Nov 2016 when the government declared demonetisation: Prof Jayati Ghosh

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

Bank Merger is against The Banking Companies Act, 1970: Dr Thomas Franco

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

Bank mergers was done at the behest of corporates: Sitaram Yechury

In the wake of RBI’s decision to transfer Rs 1.76 lakh crore to the government as per the recommendations of the Bimal Jalan-led committee; and Modi Government’s the decision to merge 10 Public Sector Banks to carve out for large banks, a public debate titled ‘RBI’s Reserve Fund Transfer & Banks…

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…