There will not be single job loss due to merger of banks Says Indian FM


Indian Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one employee shall be removed following the amalgamation.

“Absolutely, ill informed. I want to assure every union in everyone of these banks to please recall what I have said last Friday. When we spoke about amalgamation of banks I have very clearly underlined the fact that there shall not be one employee removed. Not at all”, she told reporters, agency reports.