Hyderabad, Feb 7 : The All India Bank Employees Association (AIBEA) today demanded the Reserve Bank of India (RBI) and the UPA government to take steps immediately to merge Dhanalaxmi Bank with one of the Public Sector Banks in the interest of the customers and employees and officers of the Bank. Informing this to UNI, AIBEA General Secretary C H Venkatachalam said for quite some time, the performance of the 85 years-old Kerala-Bbased private sector Dhanalaxmi Bank has been causing concern, notwithstanding the repeated statements of the Bank management that all was well with the Bank. He said in view of the deteriorating financial condition of the Bank, the Reserve Bank of India had directed a 15 point Monitorable Action Plan (MAP) and RBI has been closely monitoring the affairs of the Bank. Mr Venkatachalam said the main reason for the problems of the Bank was the management's attempt to convert this traditional Bank into an ambitious modern Bank. Many officials were appointed in the Bank with huge remuneration, unrelated to their capacity or the performance of the Bank. The name of the Bank was changed 'from Dhanalakshmi Bank to Dhanlaxmi Bank', he said and added the Corporate office of the Bank was unwarrantedly shifted from Thrissur in Kerala to Mumbai, he charged.
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