Business & Finance

FM Nirmala Sitharaman assures no job loss due to merger of banks

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New Delhi | Addressing the job cut rumours after the announcement of bank mergers, Finance Minister Nirmala Sitharaman has assured that not even one employee shall be removed following the amalgamation.

“Absolutely, ill-informed. I want to assure every union in all 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,” Nirmala Sitharaman told reporters.

Nirmala Sitharaman was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs.

Nirmala Sitharaman on Friday, to boost the economy, had announced the merger of PSU banks. She has proposed merge 10 public sector banks into four. Protests were conducted in several areas to protest FM’s decision, in a fear of job loss.

Responding to the government’s plan, the All India Bank Employees Union has said that the amalgamation would lead to the closure of banks besides job losses.

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Pakistan to grant consular access to Kulbhushan Jadhav today

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Islamabad | Pakistan on Sunday said it has granted India consular access to Kulbhushan Jadhav and officials will be allowed to meet him on Monday.

The ICJ on July 17 said Pakistan has violated Jadhav’s rights under the Vienna Convention on Consular Relations and sought a review of his death sentence.

“Consular access for Indian spy Commander Kulbhushan Jadhav, a serving Indian naval officer, and RAW operative, is being provided on Monday 2 September 2019, in line with Vienna Convention on Consular relations, ICJ judgment & the laws of Pakistan,” Mohammad Faisal, Spokesperson Ministry of Foreign Affairs Pakistan said on Twitter on Sunday.

“Commander Jadhav remains in Pakistan’s custody, for espionage, terrorism and sabotage,” he said in another tweet.

Pakistan announced a military court has sentenced Jadhav to death in April 2017 a year after it said he was arrested from Balochistan in March 2016 and charged with involvement in spying.

However, India has maintained that he had retired from Navy a while ago and was abducted by Pakistan from Iran, where he was on a business trip in private capacity.

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