Members of Bank Unions stage protest against govt's decision to merge PSBs

The members of United Forum of Bank Unions staged protest in Karnataka's Bengaluru on August 31. The protest was against the Centre's decision to merge 10 public sector banks into four entities. The BJP government at the Centre had unveiled a mega plan on August 30 to merge 10 public sector banks into four to create fewer and stronger global-sized bankers as it looks to revive economic growth. Union Finance Minister Nirmala Sitharaman said 10 public sector banks-Punjab National Bank, Canara bank, Union Bank of India, Indian Bank, United Bank of India, Allahabad Bank, Syndicate Bank, Corporation Bank, Oriental Bank of Commerce and Andhra Bank would be merged.