“There is no evidence that merger of banks will
strengthen it or make it more efficient," AIBEA General Secretary C H
Venkatachalam said soon after Finance Minister Arun Jaitley announced
the decision to merge Dena Bank, Vijaya Bank and Bank of Baroda.
"We have seen the example of five associate banks
merging with SBI. No miracle has happened. On the other hand, it has
resulted in the closure of branches, increase in bad loans, reduction of
staff and business. For the first time in 200 years, SBI has gone into
loss,” he added.
Venkatachalam also said the total bad loans of five
associate banks as on March 2017 was around Rs 65,000 crore and that of
SBI at Rs 1,12,000 crore. Now in 2018 bad loans of SBI has increased to
Rs 2,25,000 crore.
“So it is clear that merger has not helped to recover bad loans,” he said.
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