All India Bank Officers’ Confederation in a statement condemning the bank merger said, “the announced merger of three public sector banks is nothing but a diversion away from the core issue of NPA recovery. Mergers cannot resolve or clean up the balance sheets; rather the NPAs of the three merged entities would simply add up. The improvement in certain ratios, if any, would amount to mere financial engineering, without resolving the actual problem.” Read the full text.

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