AIBOC OPPOSES MOVE TO RESTRUCTURE BANKS

All India Bank Officers' Confederation - Kerala State Committee has protested against the Government's move to restructure public sector banks in the country. Mr. V.K. Prasad, Secretary, AIBOC -Kerala State Committee described the move of the Government to borrow $ 2 billion (Rs.9000 crore) from the World Bank in order to infuse fresh capital to the PSU banks as a danger signal. He also told that the move was mysterious given the satisfactory capital adequacy position of 13.2% of the PSU banks in March 2009 against the mandatory requirement of 9%.

Source: http://www.blonnet.com/2009/12/28/stories/2009122852191300.htm