Daijiworld Media Network - Udupi

Udupi, Oct 15: The management of Syndicate Bank is unhappy with the Central government’s decision concerning its merger with Canara Bank. Established in Udupi in 1925, Syndicate Bank is heading towards its centenary year celebrations.

The management feels that the merger is being forced on them. Shashidhar Shetty, president of All India Syndicate Bank Officers Association has warned to approach Supreme Court if the Central government does not drop its merger plans. In the presence of the administrative committee of both the banks, an HR committee was formed to discuss the merger. Meanwhile, employees of Syndicate bank are sporting black bands as a mark of protest during their working hours and are performing their duties. On Saturdays, protests are taken out on streets asking the government to drop the merger plans.

Syndicate bank has around 4,000 branches and Canara Bank has 6,000 branches across the nation. Recently, around Rs 100 crores was spent for the updation of the Syndicate bank ATMs. The Syndicate Bank feels that Canara Bank needs to undergo a lot of technological updation, to reach the level of Syndicate Bank. At least three more years are required, opines Shashidhar Shetty. At least Rs 1000 crores expenditure is needed for the updation of ATMs and the publicity and promotions when the merger takes place.

All India Syndicate Bank Officers Association has expressed its views to Pejawar Seer Sri Vishwesha Teertha Swamiji as well as Dr D Veerendra Heggade and a requested appeal will be sent to Nirmala Sitharaman, Minister of Finance requesting to drop the decision on bank merger.

Recently, amid protests, Vijaya Bank was merged with Dena Bank and Bank of Baroda. Meanwhile, Corporation Bank which originated in Udupi and Andhra Bank would be merged into Union Bank of India. “Among the 4 banks that originated in the coastal region, only Canara bank will be in existence if the merger takes place. We hope that the central government drops its decision on merging of banks. Or else a protest will be done in Udupi with the support of the people from Malpe, Manipal as well as Udupi,” warned Shashidhar Shetty.