Pics: Spoorthi Ullal

Daijiworld Media Network - Mangaluru (JS)

Mangaluru, Nov 5: Prominent people from city here opposed the move of Corporation Bank to shift its head office from city to Bengaluru.

Addressing media persons here at Canara Club on Saturday, November 5, Mangaluru South MLA J R Lobo strongly opposed the move of the bank and said "The undivided Dakshina Kannada district which is the place of birth for five nationalized banks. The district is known as the banking city. Unfortunately the two banks Canara and Vijaya bank shifted their headquarters to Bengaluru long back. Syndicate bank has also shifted maximum of its operations to Bengaluru. Now one of the important banks Corporation Bank sadly has also made all arrangements to shift the headquarters to Bengaluru,"

"In this technology driven world today it is very easy to run any enterprise from any place. We have the proofs to say that the board has taken decision to shift bank. Corporation Bank, which was started in 1906, has continuously made profits until 2014-15, only this year it has made loss of Rs 506 crore. In the history of bank, it had profits for past 109 years. But now they have planned to shift the bank to Bengaluru. For the purpose they have acquired 8 acres land in Yalahanka," Lobo added.

"The new building is being built at the cost of Rs 1000 crore. The question here is, at the time when bank is making losses, what is the need to shift it to Bengaluru by spending Rs 1000 crore? When the banks are in trouble, the central government is merging small banks. They have built the facilities here and if they want, let them create more facility by acquiring another 10 acres here in Mangaluru." Lobo said.

"Who are these to shift the bank, which was started by our ancestors of this region? Thus, there is a need now for all of us to raise voice against this. If we do not do this today, then our future generation will suffer. We should all oppose this. This decision will also pose threat to the economy of this city. If the directors are feeling difficulty to attend meeting here in Mangaluru, let them resign." he opined.

"We will meet the finance minister. We will also urge all the parliamentarians and union ministers of this region to pressurize the government to stop this decision. Irrespective of politics, we all Mangalureans need to fight against this." Lobo said.

KCCI president Jeevan Saldana said "The place is good for corporate. At time when the governments are promoting the tier two cities, what is the need to shift it to Bengaluru? Bengaluru has already so many issues like traffic, housing and other. The shifting will create loss of direct employment of about 1000 and ancillary jobs. This will be a national waste."

"When the Canara bank shifted, they spent Rs 800 crore for logo change. Thus central government being the majority stake holder should stop this." Jeevan added.

CREDAI president, D B Mehta said "Mangaluru is known as the cradle of banking. But now it looks like only cradle is left and baby has gone. The shifting would impact the real estate and construction industry. At the time when the real estate industry is in slowdown, this will create bad impact on the economy of the city. We all are striving to get more and more investment here in Mangaluru. This would create a bad impression on the city's investment."

"The major issue faced is the job creation in Mangaluru. If the shifting of Corporation Bank results in job losses, then it will be a major disaster. Every bank has independent director posts. But unfortunately there are no Mangalureans on the post of independent directors. Why Mangalureans cannot be put on these independent directors posts, so that they can put forward their point when such issues are faced."

Mayor Harinath, Kudpi Jagadish Shenoy the president of Hotel Unions and others were present.