Naidu appeals to FM to retain Andhra Bank’s name

Amaravati: Telugu Desam Party president N Chandrababu Naidu on Tuesday requested Union Finance Minister Nirmala Sitharaman to continue the name of Andhra Bank if its amalgamation with other banks was inevitable.

In a letter to Sitharaman, Naidu noted that name Andhra Bank wasentwined with the sentiments of Telugu people.

“Telugu people are unable to digest the proposed merger of Andhra Bank (with other banks). The bank is linked with the sentiments of the Telugus and it has been rendering exemplary services enhancing peoples faith,” the Leader of Opposition pointed out.

The name Andhra Bank should be retained if at all the amalgamation became inevitable, he said.

The Finance Minister last week announced merger of several public sector banks as part of a consolidation exercise.

As part of it, Andhra Bank was proposed to be merged with Union Bank of India and Corporation Bank to form a single entity. Even though political parties in Andhra Pradesh welcomed the merger move, they expressed reservation over eliminating the name of Andhra Bank.

The ruling YSR Congress, the Congress and the Left parties demanded that the name of Andhra Bank be retained to the proposed new entity in deference to the sentiments of Telugu people.