"KING:'Is
Merging of PSU Banks a fruitful decision for Indian economy in the
long run?' HERMIT:'No, it is not. If you merge the PSU Banks, then,
probably, the concept of Financial Inclusion will fail in India. As
UPA-II government has failed to bring economic reforms in their
tenure, they are just trying to bring money by merging of banks or
disinvestment of shares of PSU Banks. Ultimately, these policies
will ruin the Indian economy in the long run. Indira Gandhi was not a
foolish Prime Minister to bring Nationalization of Banks. Private
Banks will never show mercy to any poor farmers of rural India and
merging of several banks may create a hotch-potch scenario in terms
of administration.'"-Arindam Sain
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