Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
DEEP READ
Schools breeding hatred
access_time 14 Sep 2023 10:37 AM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
When ‘Jai Sree Ram’ becomes a death call
access_time 15 Feb 2024 9:54 AM GMT
Strengthening the Indian Republic
access_time 26 Jan 2024 4:43 AM GMT
When the US and UK fight Houthis
access_time 17 Jan 2024 6:08 AM GMT
exit_to_app
Homechevron_rightKeralachevron_rightKerala Assembly passes...

Kerala Assembly passes resolution against SBT-SBI merger

text_fields
bookmark_border
Kerala Assembly passes resolution against SBT-SBI merger
cancel

Thiruvananthapuram: The Kerala Assembly Monday passed a resolution against the merger of State Bank of Travancore with State Bank of India, stating it would adversely affect the state's economic growth.

The resolution, introduced by Chief Minister Pinarayi Vijayan, asked the Centre and Reserve Bank of India to rescind the decision to amalgamate state-based State Bank of Travancore (SBT) with State Bank of India (SBI).

However, the lone BJP member in the House, O Rajagopal, opposed the resolution, saying it was with political motive.

The Congress and left parties were opposing the merger because of their hatred towards the BJP-led government of Prime Minister Narendra Modi, he said.

The Chief Minister said people of the state viewed the merger development with anxiety.

Speaking during the two-hour debate, Finance Minister T M Thomas Issac termed the BJP MLA's attitude "narrow minded". "Rajagopal's stand is against the state's interest," he said.

The ruling CPI-M-led LDF and Congress-headed UDF Opposition supported the resolution, which pointed out that the merger was against the state's interest.

The resolution said SBT was the biggest bank in the state with 846 branches and Rs 8,000 crore deposit. It said the Kerala government's major transactions were also with the bank.

SBT's agriculture development loan has played a key role in the economic growth of the state, the resolution added.

Show Full Article
Next Story