Financial Daily from THE HINDU group of publications
Wednesday, Mar 30, 2005
Financial Daily from THE HINDU group of publications Wednesday, Mar 30, 2005 |
|
|
|
|
|
Opinion
-
Letters Merger mania
The news on mergers and acquisitions of public sector banks has been in the air for quite some time now. The Finance Minister, the Reserve Bank of India Governor and Deputy Governor and the Finance Secretary have repeatedly announced that consolidation of public sector banks is the need of the hour. The chairmen and managing directors of many leading public sector banks had announced their intention of acquiring banks, which will elevate the latter to global standards. The media hype over mergers has prompted millions of small investors to start investing in bank scrips, which has sent bank shares to dizzy heights in the share market. However, contrary to people's expectation, the current Budget made no mention of the modalities for mergres. Recently staff of public sector banks went on a day's strike against mergers and acquisitions. Subsequently, statements made by some public sector banks give the impression that mergers are going to be kept in abeyance. In this scenario, the common man is completely at a loss as to what is actually going on. Vasudev. S Katagade (Karnataka) Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|