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Our Bureau

Kolkata, Nov. 19 State Bank of India Staff Association (SBISA) will oppose the merger of associate banks with State Bank of India, despite having agreed to the merger of Bank of Saurashtra with the parent bank, according to the association President, Mr V.K. Gupta.

“The concept that bigger entity is a better entity need not necessarily be correct always”, Mr Gupta said, while addressing Sixth Triennial Circle General Council of State Bank of India Staff Association at Burdwan on Sunday.

Over 7,000 employees of State Bank of India from all over the country attended the two-day conference.

The President said the association did not oppose the merger of Bank of Saurashtra with State Bank because the employees of the associate bank expressed themselves in favour of merger long before the bank management came out with the scheme.

Expressing concern over the probable banking scenario that would emerge from 2009 when the economy would be thrown open to foreign banks, Mr Ashok Kumar Datta, general secretary of SBISA, Bengal Circle, said with the opening up of the banking sector, a substantial chunk of national savings would go into foreign hands for deployment as per their priorities.

This might cause shortage of funds for priority sector lending, he said.

The conference felt that other associations of bank employees such as National Confederation of Bank Employees and United Forum of Bank Unions should also be involved to launch movement demanding nationalisation of all private sector banks before 2009.

It also demanded repeal of outsourcing as a means to cut down on costs and improvement of staff welfare facilities.

More Stories on : Trade & Labour Unions | Public Sector Banks | State Bank of India

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