Merger of Banks: Pejawar Seer Meets Union Finance Minister Nirmala Sitharaman

Merger of Banks: Pejawar Seer Meets Union Finance Minister Nirmala Sitharaman

September 19: Pejawar Seer Vishwesha Theertha Swami, along with Corporation Bank Officers’ Organisation representatives, met Union Finance Minister Nirmala Sitharaman recently.

Pejawar Seer said that the decision to merge Manipal-based Syndicate Bank with Canara Bank and Mangalore-based Corporation Bank with Union Bank will wipe away the identities of both public sector banks which will have a negative impact on the district’s business and economy.
The Seer mentioned that the recent merger of Vijaya Bank with Bank of Baroda has created a vacuum in the banking sector and the people of undivided Dakshina Kannada, known as cradle of banking, were taken aback by the proposal to merge two more public sector banks of the district.
Union Finance Minister Nirmala Sitharaman accepted the memorandum submitted by the delegation and promised to look into the issue.