Public sector banks on strike opposing merger

22 Oct 2019 01:44 PM

Public sector banks have gone on a one day strike on Tuesday. They are protesting the government's merger and closure of banks. They want action, that is loan recovery proceedings, to be started against defaulters especially corporate defaulters. And they also want a restart of recruitment.



Bank unions allege that these mergers are a way to help corporates get away with loan defaults and also to help the private sector banks. 

Public sector banks came into being with the start of the State Bank of India in 1955. after that 14 major private banks were nationalised in 1969 and another 6 private banks nationalised in 1980. 

Reporter: Glenn Costa | Camera: Irshad Shaikh



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