Nara Chandrababu Naidu, the President of the Telugu Desam Party (TDP,) on the 3rd of September, wrote a letter opposing the merging of Andhra Bank with any other bank.
Mr. Naidu wrote a letter to Nirmala Sitharaman, the Finance Minister of India, asking her not to merge Andhra Bank with other banks, as it is related to the sentiments of the Telugu people.
Naidu said he appreciates the efforts of the Central Government to enhance the economy of India, but Andhra Bank is a household name among the citizens of Andhra Pradesh.
On the 30th of August, Nirmala Sitharaman announced the merger of 27 state run banks, reducing the number of Public Sector Undertaking (PSU) banks in India to 12 banks, to enhance the economy of India.
The Central Government decided to merge Andhra Bank with the Union Bank of India (UBI) and Corporation Bank.
Naidu said, “If the merger is inevitable, the two other banks can be merged with Andhra Bank as the anchor.” He further said, “Establishment of Andhra Bank in those days instilled national pride among the Telugu people and it served as an inspiration to them. Even today, Andhra Bank is a household name among Telugu households and it continues to inspire the Telugu people.”
He appealed to the Government of India to retain Andhra Bank’s name after the merger.
Speaking about the history of Andhra Bank, Naidu said Dr. Bhogaraju Pattabhi Sitaramayya, a noted freedom fighter of Andhra Pradesh, laid the foundation of Andhra Bank. The Bank was first established in Machilipatnam and will complete 100 years of its formation in 2022.
Naidu concluded his letter with a firm request and asked the Finance Minister to withdraw the decision and let Andhra Bank remain as it is.
Nirmala Sitharaman did not respond to the letter yet.
Stay tuned for further updates.
