Mangaluru : District Congress Committee (DCC) held a protest against the merger of Vijaya Bank in front its regional office near Ambedkar Circle in the city on Thursday.

Opposing the merger of Vijaya Bank with Bank of Baroda, former MLA JR Lobo said Daskhina Kannada had enjoyed the distinction of being the cradle of bank. “The district has given birth to five major banks in the nation, but it is unfortunate that a bank born in the region has been merged with another for the first time. The decision to merge a profit making bank with loss making ones is really condemnable,” Lobo said.

He lamented that the issue was not conveyed to the central government though a protest held by the Congress against the bank merger six months ago.

Condemning the merger move, DCC president Harish Kumar said Vijaya Bank had been lending money to poor farmers and all sections of the society.

Former minister Ramanath Rai said while Attavar Balakrishna Shetty founded Vijaya Bank through his hard work and strenuous efforts, bankers like Mulky Sunder Ram Shetty strived to take forward the legacy. “It is a black day for the people of Dakshina Kannada that a prominent bank that provided employment opportunity to hundreds is being merged with another,” he said and urged the central government to withdraw it decision to merge Vijaya Bank. Latest Commen

The party workers also held protests near DCC office and at Kankanady.

Advocate Dinesh Hegde Ulepady, who convened the meet, said bank merger would affect the prospects of smaller banks, which were merged with another. “The present economic scenario is not favorable for bank merger. We need to look at the consequences of previous bank mergers happened in the nation. There are possibilities that the small branches of the merged banks may be closed since the major banks will not show interest in the merged banks. The need of the hour is to make nation’s economy stable. Vijaya Bank, which was founded for farmers, never recorded loss,” he added.