Co-op bankers discuss mergers

"The co-operative banking sector is facing tough competition from private banks. By the sheer size of their resources, the private banks are managing to score over the co-operative banks," said Dilip Gajjar, president, South Gujarat Urban Co-operative Banks Association.

"To survive, the co-operative banks will have to strengthen their finances, which can be done only through mergers. Representatives of all the 24 co-operative banks of Surat were present in the meeting. We discussed the issue of merger of strong co-op banks with one another, as well as the merger of weak banks with the stronger banks, " he said.