AISBOF opposes acquisition of nationalised banks

Visakhapatnam, Apr 11: The All India State Bank Officers Federation(AISBOF) General Secretary G D Nadaf today said the federation opposes the government move on merger and acquisition of public sector banks.

Speaking at the Annual General Meeting(AGM) of SBI Officers Association, Hyderabad circle here, he lauded the Common Minimum Programme(CMP) of the United Progressive Alliance(UPA) Government for initiating steps to expand the banking industry in rural areas and increasing the loan amount to the agriculture sector.

Mr Nadaf said there was an acute shortage of clerks and officers in banks. The Government's reported move to stop the increase in number of branches would cause considerable considerable hardships to the customers, he added.

He said the federation would also take steps to stall the entry of middlemen in rural banks as agents or facilitators as the government's retrograde step would affect the interests of the innocent borrowers. The core banking function should not be outsourced, he added.

He said the federation would demand restoration of appointments scheme on compassionate grounds in banks.

UNI