The Hindu Business Line : Officers of SBI associate banks to strike work in Dec

Officers of seven associate banks of State Bank of India (SBI) have announced their move to strike work during December 2-4 to protest against merger moves.

The members of Associate Banks’ Officers’ Association (ABOA) plan to bring work to a standstill across 3,490 branches of these banks in the country.

The General Secretary of ABOA, Mr Harshavardhan Madabushi, announced their strike plan at a meeting of the 40th anniversary of the association held here on Saturday.

Mr Madabushi along with other ABOA officials said that efforts are still on to merge these banks in spite of the fact that that the Subsidiary Banks Amendment Act allowed the associate banks to go public and build their own independent identity.

This strike move is part of the efforts to express ABOA officers opposition against mergers.

ABOA represents State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Indore, State Bank of Mysore, State Bank of Patiala, State Bank of Saurashtra and State Bank of Travancore, collectively accounting for over 24,000 officers.

For ABOA, the 40th anniversary assumes significance in the backdrop of moves by SBI for merger of associate banks with itself.

Referring to the recent amendment of the SBI (Subsidiary Bank) Act, the ABOA officials said that this provides freedom to the associate banks to raise capital base by going public and provides for strengthening their finances and build an independent identity.

During the meeting, the Managing Director of SBH, Mr Amitabh Guha, recalled the role played by the ABOA and its services over the years.

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Officers of SBI associate banks to strike work in Dec