Syndicate Bank employees protest merger in Ongole

Ongole: Syndicate Bank employees laid a protest against the merger of Syndicate Bank into the Canara Bank. The members of Syndicate Bank Officers Union (SBOU) and Syndicate Bank Employees Union (SBEU) called for a protest on every Friday.

Speaking on the occasion, SBEU State Assistant secretary M Narendra Babu said that merger of financial institutes was done if the financial institute runs into loss or not functioning properly. However, the Syndicate Bank was strong financially and received awards as Best Bank for its service to the customers, he added and wondered as to why it was being merged.

SBOA member P Dinesh Reddy recalled that a few insurance companies have represented the State government for merger. However, the government did not show interest in them. It is forcefully trying to merge banks which are comfortably doing their transaction, he alleged.

SBEU leader U Venugopal said that Syndicate Bank has branches in all villages and by merging the banks the branches will be forced to shut down pushing the farmers and small businessmen into trouble.

SBEU leaders Ch Rakesh, V Ramchandra Rao, Ravindra Babu, P Brahamaiah, Shekar Babu, David, Prabhakar, Saikiran and others were present.