MBEA opposes AllBank public issue

The Mahargujarat Bank Employees Association (MBEA) has opposed the public issue of Allahabad Bank.

Dushyant Trivedi, general secretary of MBEA alleged that by diluting its stake in the bank, the government will actually ensure that the private sector gets a greater stake in running of the bank.

"All PSU banks must concentrate on recovering of dues of defaulters instead of raising money from the market," said Trivedi.