New Delhi: The central government had taken a major decision in the past and merged eight state-owned banks. The opposition is raising a lot of questions on this decision of the government. Union Finance Minister Nirmala Sitharaman has dismissed all these apprehensions. Sitharaman said that no single employee will get a job due to these merger decisions. The finance minister told reporters about the bank unions' concerns about leaving the job, "It is absolutely untrue."
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I want to assure all the unions and people of each of these banks that they remember what I said on Friday. When we talked about the merger of banks, I had clearly said that no employees would be removed. No one.' Sitharaman on Friday announced the merger of ten state-owned banks to form four banks.
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This decision has been made with the goal of setting up strong and large scale banks in the country. According to the government announcement, Oriental Bank of Commerce and United Bank of India are to be merged with PNB, Syndicate Bank in Canara Bank, Andhra Bank and Corporation Bank in Union Bank of India and Allahabad Bank in Indian Bank. After the merger, the total number of public sector banks will be 12. The government is describing this move in the interest of banks.
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