Surat Parsi Panchayat opposes Central Bank of India merger

The Surat Parsi Panchayat has urged Prime Minister Modi to prevent the merger of the Central Bank of India, citing its historical significance. The bank, founded by Parsis in 1911, is considered India's first "swadeshi bank." The Panchayat fears a merger would erase its unique identity. The Central Bank of India was established during the Swadeshi movement and nationalized in 1969. The government is reportedly considering stake sales in several public sector banks.