The
State Sector Bank Employees’ Association (SSBEA) has decided to go on a two-day
strike from July 12, to protest the move to merge five associate banks with
State Bank of India (SBI).
Opposing the merger decision,
nearly 45,000 employees in the Associate Banks, with 6,700 branches and 9,000
ATMS, will go on strike on July 12 and 13, since the merger will hit the
customers and the business badly, SSBEA General Secretary, K S Krishna told
reporters here today.
The total business of these
banks as on March 2016 stood at Rs 900,000 crore with operative profit of Rs
10,500 crores, he said adding that the association will request the government
to reconsider the decision.
The merger is to make SBI a
very big bank of global standards, for the benefit of corporates and big
companies.
Such banks in USA had collapsed
like a pack of cards.
“If the merger takes place, the
customers will face hardship, as they will be forced to wait for several hours
for a single transaction,” he claimed.
Even the state governments of
Kerala, Karnataka, Rajasthan, Telengana and Punjab, with stake in the banks,
have raised concern over the merger, for fear of losing share of profits paid
by the banks, he said.
Stating that there will be no
rectuitment for five years, he said delinking of associate banks from SBI would
ensure independence, functional autonomy, further growth and its progress,
Krishna added.
The managements of the
associate banks, including State Bank of Mysore and State Bank of Hyderabad,
have given nod for the merger at a meeting held on May 17 last.
Courtesy The Financial Express
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