All India Bank Employees Association said in its statement on bank mergers, “there is no evidence that merger of Banks would strengthen the Banks or make it more efficient. We have seen the example of 5 Associate Banks merging with SBI. No miracle has happened. On the other hand, it has resulted in closure of Branches, increase in bad loans, reduction of staff, reduction in business, etc. For the first time in 200 years, SBI has gone into loss.” Read the full text
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