YSRCP, Congress oppose Andhra Bank’s merger

Amaravati, Aug 31 (IANS) Andhra Pradesh's ruling YSR Congress Party and opposition Congress have taken exception to the Centre's decision to merge Andhra Bank with two other banks, saying it amounts to hurting the sentiments of the Telugu people.

They demanded that the Centre withdraw its decision and if merger is inevitable the name of Andhra Bank should be retained.

YSRCP MP Vallabhaneni Balashowry strongly opposed the merger announced on Friday. The Lok Sabha member from Machilipatnam also wrote a letter to Prime Minister Narendra Modi in this regard on Saturday.

The MP pointed out that Telugu people have an emotional attachment with Andhra Bank. He said Finance Minister Nirmala Sitharaman should reconsider her decision to merge Andhra Bank with other banks.

Sitharaman on Friday announced merger of 10 public sector banks into four large entities. She said Andhra Bank would be merged with the Union Bank and Corporation Bank.

Congress party leader and Rajya Sabha member K.V.P. Ramachandra Rao has also urged the Centre to withdraw its decision to merge Andhra Bank.

Rao wrote a letter to Sitharaman, opposing the move. He demanded that the process of merger should be stopped and Andhra Bank should be allowed to continue as a separate entity.

He said the merger would hurt the sentiments of Telugu people. The MP also wrote that in case merger is inevitable, the name of Andhra Bank should be retained.

Rao said the name of Andhra Bank should be continued in memory of freedom fighter Pattabhi Sitaramayya, who founded it as a private bank in 1923 in Machilipatnam.