In order to cripple bank services, over 50,000 employees of five associate banks of State Bank of India (SBI) have gone on a day-long nationwide strike on Friday to lodge their angst against the proposed merger with their parent bank. SBI’s five associate banks are— State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of TravancoreA demonstration against the proposal will also be staged at Azad Maidan today.
SBI’s associate banks’ employees are protesting under the banner of All India Bank Employees Association. “We condemn the move of SBI to merge five large associate banks into it. It’s not acceptable under any circumstance,” union’s statement said.
Notably, the Board of Directors of SBI had on Tuesday discussed the possibility of acquiring its associate banks, including assets and liabilities.
“The decision is in nascent stage and not certain. No concrete statement can be given at present. A proposal seeking an in-principle nod to start negotiations with associate banks will be submitted to the Centre,” news reports quoted a SBI statement.
That apart, SBI management also proposed to merge the first women-oriented ‘Bharatiya Mahila Bank’ with it. SBI has sought government approval for the proposed plan.
Yesterday, another union, All India Bank Officers’ Association, had requested the government not to give consent to the SBI’s plan of merger.