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Kerala CM against LKB merger with BoP

Our Bureau

Thiruvananthapuram, Aug. 29

The Chief Minister, Mr V. S. Achuthanandan, has expressed himself against the proposed move for merger of Lord Krishna Bank with Bank of Punjab.

In a communication to the Union Finance Minister, Mr Achuthanandan demanded that the Centre intervene immediately to avert the ill-advised merger from being formalised. Set up in 1940, Lord Krishna Bank has given a good account of itself in being able to effectively look after the interests of the backward and downtrodden sections. The merger move will put this time-tested tradition in jeopardy, harming not just the poor but the shareholders of the Kerala-based bank as well, the Chief Minister said.

More Stories on : Mergers & Acquisitions | Politics | Private Banks | Kerala

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