Left parties to oppose merger of Public Sector Banks
Hyderabad: The AITUC General Secretary and Member of Parliament, Gurudas Dasgupta, has said the Left parties would strongly oppose the Government's proposal to merge the public sector banks to evolve a few monopoly banks.

Addressing the annual conference of the All India Bank Employees' Association (AIBEA) here on Saturday, he called for unity among trade unions to fight against the new economic policies being dictated by the World Bank.

Lashing out at liberalisation, privatisation and globalisation policies practised by the erstwhile NDA Government, he said the existing Government seems to be reasonable so far. However, he said the Government was depended on support from Left parities and their support would continue as long as the Government does not resort to anti-people policies and implemented the Common Minimum Programme. "The Government cannot take our support for granted," he said.

Dasgupta called for the AIBEA's whole-hearted support and said its role should not be restricted to merely achieving the bi-partite agreements with the bank managements for securing wage increases.
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Rs.500 crore, 91 day, T-bills auction on Dec 1
Mumbai: The Reserve Bank of India has announced that the auction of 91-day Government of India Treasury Bills for notified amount of Rs500 crore would be conducted on December 1, under the regular auction calendar. The auction of Rs1,500 crore under MSS will not be conducted.

The central bank said in a release, "Taking into account all relevant factors" auction of 91-day Treasury Bills for Rs1,500 crore scheduled for December 1, under quarterly indicative schedule for MSS (Market Stabilisation Scheme) would not be conducted.

The auction will be conducted using "Multiple Price Auction'' method and payment by successful bidders will be on December 3.
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