The Hindu Business Line : Bank staff in Kerala to demonstrate

THIRUVANANTHAPURAM: The Bank Employees Federation of India-Kerala (Befi-Kerala) is planning to hold demonstrations and a sit-in on Friday in protest against the Centre's move to allow mergers and acquisitions of public sector banks.

The Befi is staging protests in all State Capitals on that day, said Mr A. Siaudeen, General Secretary, Befi-Kerala.

Mergers and acquisitions are being attempted as per recommendations of the Narasimham Committee, which ordains to limit the field to five or six major players.

This would only mean negation of banking services to a large section of the population, apart from job loss to many from mass closure of branches.

The demonstration will be held in front of the Main Branch of Indian Overseas Bank (IOB). The federation has also threatened to launch an all-India strike in March.

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