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SBI Chief rightly speaks against merger of banks with SBI

Kashmir Times. Dated: 6/9/2018 12:21:36 AM

Dear Editor,
State Bank of India (SBI) Chairman has rightly expressed that no more merger of banks in SBI already having 20-percent of banking-business should be there. Many subsidiaries of SBI and more recently Mahila Bank have already further over-burdened the largest public-sector bank. SBI having completed merger-plan should now merge its nearing-branches to sharply decline number of its branches which is about 22000. Rather it is time that some accounts of central and state governments and of public-sector-undertakings (PSUs) presently existing at SBI may be shifted to other major public-sector-banks which in future are to be made anchor-banks namely Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Bank of Baroda for mega-merger of too many (21) public-sector banks in future. SBI Chief rightly advocated for urgent implementation of mega-merger of 21 public-sector-banks in other five anchor banks.
SBI Chief also spoke of applicability existing uniformly for complete banking-sector including private ones. But such uniformity must also be there in various service-charges and interest-rates which are even not uniform in 21 public-sector banks including SBI. SBI with biggest market-share can play role of big brother by summoning a meeting of Chiefs of all public-sector banks for achieving uniformity in service-charges and interest-rates.
--Madhu Agrawal
1775 Kucha Lattushah
Dariba, Chandni Chowk
DELHI 110006 (India)