The Hindu Business Line : Bank mergers

This refers to the article `Bank unions to take merger battle to people' (Business Line, April 11). Government holdings in banks are shed by sale of their shares to the public. Such shares are picked up almost entirely by the staff themselves. At Board Director elections, unions use them to drive hard cash bargains with the candidates.

The PSBs in which AIBEA (All India Bank Employees Association) members work are themselves picking up many banks abroad. A principled stand by the AIBEA demands that they oppose such initiatives by their own employers.

Rural credit has not picked up only because our bank employees do not care to lend to this sector. Their operations are pro-city, and hence they refuse transfers to villages.

Taking the issue of divestment to the public may backfire with the families of farmers who have committed debt-suicides after receiving recovery notices from banks for small amounts. The names of those officials responsible for granting such bad loans also ought to be published in public interest.

R. Sajan

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