mangalore today

Vijaya Bank’s merger sparks protest in city

Mangalore Today News Network

Mangaluru, Jan 04, 2019: After the Union government completed all the formalities of merger of Vijaya Bank and Dena Bank with Bank of Baroda, several like-minded people in Dakshina Kannada invoked Tulunada Asmithe (pride of Tulu Nadu) to protest against the decision.




The occasion also came in handy for the protesters to criticise what they said the failure of Lok Sabha member Nalin Kumar Kateel in preventing the merger.

The Samana Manaskaru Okkoota staged a demonstration in front of the Deputy Commissioner’s office here on Thursday evening decrying the government decision. One placard read Shetru Bank Kattidru, Modi Bank Muchchisidru [Mulki Sundar Ram Shetty established Vijaya Bank while Narendra Modi closed it]. Another said: It is not merger, but murder of Vijaya Bank and a black-mark on the pride of Tulu Nadu.

Launching the protest, Democratic Youth Federation of India (DYFI) district secretary B.K. Imtiyaz chanted a few slogans which indicated that despite the reservation shown by the people of Dakshina Kannada against the merger, the MP did not raise his voice. DYFI State president Muneer Katipalla, bank union activist B.M. Madhava, activist M.G. Hegde and others were present.

Mr. Madhava told The Hindu that the government had earlier proposed the merger of all three banks to retain their identities. However, what has now been decided is the merger of two small banks with Bank of Baroda, which is detrimental to the interests of people, depositors and employees. Among the three, only Vijaya Bank was under profit with negligible non-performing assets, he said.

Vijaya Bank has a deposit of Rs. 1,57,328 crore, advances of Rs. 1,22,348 crore, 16,000 staff and 2,129 branches, he said.

Speaking on the occasion, the former media advisor to the then Chief Minister Siddaramaiah Dinesh Amin Mattu said that the coastal districts gave birth to five banks and none has become bankrupt. All the five had been functioning with professionalism.

Courtesy:The hindu