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ICICI move deplored

Special Correspondent

NEW DELHI: The Communist Party of India deplored the reported move of the ICICI Bank to take over the Sangli Bank Limited and said such ``clandestine moves'' was not acceptable.

``It is very distressing to see that foreign banks are allowed to take over Indian banks. This will adversely impact the job security and other rights of the employees,'' the party's Central Secretariat said in a statement.

It said that when the Left parties and the United Progressive Alliance were discussing banking reforms and other issues ``such moves are clandestinely allowed to take place." "It is not acceptable.''

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