BOIEU opposes new banking licence, inter-bank merger

Odisha unit president of BOIEU Sachinanda Nanda said move was being opposed as the very objective of nationalisation of banking sector is in peril as the process of privatisation of banks has already started.

Because of the Centre's move to issue new banking licence the economy of the country was at risk, Nanda told a meeting of BOIEU, Mayurbhanja district, attended by other leaders.

Opposing inter-bank merger, the union leaders said PSU banks which had ushered in growth of the nation were now facing the challenges of merger and urged the Centre to scout for opportunities to reduce the alarming level of NPA in the banking sector.

Unless the government restrained from its attempt to privatise the banking sector, the union would resort to agitation, the leaders said and demanded early revision of wages in PSU banks.

Besides Nanda, state BOIEU general secretary Pradipta Pattnaik, working president Radhabalav Mishra, vice-president Ganesh Prashad Mohapatra, deputy general secretary Kulamani Das attended the meeting.