Dena Bank, Vijaya Bank and Bank of Baroda to merge

[Ankit Jain]

I am still confused as in what is forcing the banks to merge. Doesn't it looks like privatization of banks?? In one hand we are seeing new banks like paytm, Jio, Amazon etc coming up and on the other hand most of the govt banks are merging reducing the counts. If the same goes on then after a few years we can see SBI under PPP scheme operated in India.

Doesn't it looks like all the sectors are being privatised while security,safety and infrastructure being the basic motto of the govt. Coz it looks the same.

This completely looks like capitalist economy. I know somewhere this is gonna be a boom for all in the coming time but isn't govt losing their strength in certain fields trying to hold the other.

Hope modi is working on the proverb " jiska kaam usi Ko saaje" means " a work will suit to the person who is skillful in it".

 

[hike]

I am still confused as in what is forcing the banks to merge. Doesn't it looks like privatization of banks?? In one hand we are seeing new banks like paytm, Jio, Amazon etc coming up and on the other hand most of the govt banks are merging reducing the counts. If the same goes on then after a few years we can see SBI under PPP scheme operated in India.

Doesn't it looks like all the sectors are being privatised while security,safety and infrastructure being the basic motto of the govt. Coz it looks the same.

This completely looks like capitalist economy. I know somewhere this is gonna be a boom for all in the coming time but isn't govt losing their strength in certain fields trying to hold the other.

Hope modi is working on the proverb " jiska kaam usi Ko saaje" means " a work will suit to the person who is skillful in it".

No bro SBI merger is successful and these small banks like DENA are suffering and making govt. loss. Apart from this the PayTM, Airtel, Jio are the Payment Bank working with Idusland, SBI, etc.
PayTM - Indusland Bank
Jio - SBI

 

[shanaya]

Great decision taken by Modi government

 

[Ankit Jain]

No bro SBI merger is successful and these small banks like DENA are suffering and making govt. loss. Apart from this the PayTM, Airtel, Jio are the Payment Bank working with Idusland, SBI, etc.
PayTM - Indusland Bank
Jio - SBI

Bro I'm just looking at the economic view. Also these mergers are reducing the public sector banks. Instead of merging they could have gone into PPP concepts so that atleast there would have been some power of govt in the banks. If not govt could have tied up the new payment banks with these to provide some stability.

Imagine Paytm could have partnered BOB, Jio with Dena and Vijaya with Amazon. When there are so many rules made just to reduce FDI in India then this step could had been a boom for India. Our so old govt banks would had better standards. But we had left things here.

Doesn't it seems like we are giving powers under a few. What I feel is we are completely following capitalist economy model but want to potrey as if we are Democratic.

I'm not a supporter here of any party but this is capitalist economy model followed in India. This govt has worked completely on the infra and national security only wherein we can count the building of bullet train, surgical strikes, diplomatic relations with other countries but has miserably failed in normal people's needs with demonetisation & GST to count a few.

 

[Bapun]

From next month, the account numbers of the customers of eight banks, which were merged with other big lenders, will change. These banks are Dena Bank, Vijaya Bank, Corporation Bank, Andhra Bank, Syndicate Bank, Oriental Bank of Commerce, United Bank of India and Allahabad Bank. The account holders of these banks will have to get a new cheque book and passbook as the previous ones will become invalid from 1 April 2021.

Cheque book and passbook of these banks to become invalid from next month