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Bank unions’ stir on Monday to protest against SBI-SBS merger

Bank unions’ stir on Monday to protest against SBI-SBS merger
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First Published: Sun, Aug 17 2008. 12 24 PM IST
Updated: Sun, Aug 17 2008. 12 24 PM IST
By PTI
Mumbai: State Bank employees have said that they will go ahead with their one day- nationwide strike tomorrow to protest against the merger of State Bank of Saurashtra (SBS) with the SBI.
“The merger of SBI and SBS is being executed against the interests of the nation. Merger of any of the associate banks with SBI will certainly affect the implementation of Government-sponsored schemes in the predominant area of associate banks,” All India State Bank Officers’ Federation’s general secretary, G D Nadaf, told PTI.
The stir called by the All India Bank Employees’ Association (AIBEA), would be joined by an officers association in the banking industry and an employee association of the Reserve Bank.
SBS is the smallest associate of SBI. The remaining associate banks are State Bank of Mysore, State Bank of Hyderabad, State Bank of Travancore, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Indore.
SBI’s associates have a combined branch strength of around 5,000 and a total business of above Rs 4,00,000 crore. The merger of all associates of SBI with itself is expected to take its total balance sheet size to above Rs 8,00,000 crore.
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First Published: Sun, Aug 17 2008. 12 24 PM IST
More Topics: SBI | SBS | merger | protest | bank union |