Money & Banking

Bank unions plan stir to oppose merger move within SBI group

| Updated on: Apr 29, 2011

The United Forum of Bank Employees expects to go on strike to oppose the merger of State Bank of India associate banks with itself.

Mr C.H. Venkatchalam, General Secretary, All India Bank Employees Association, told Business Line , “This move to merge associate banks with State Bank of India is not only unwarranted but also illogical.”

When the Government has set an agenda on financial inclusion, the need of the hour is to expand banks and not consolidate, he said.

The AIBEA has decided to have a bank employees' union convention on May 20, 2011. “We plan to announce the strike date during the convention,” he said.

Mr Venkatchalam said he has invited all central trade unions and political parties to mobilise support against this consolidation.

This move from the AIBEA comes as a reaction to the comment of the new Chairman of State Bank of India, Mr Pratip Chaudhuri.

He said the largest bank plans to merge State Bank of Patiala and State Bank of Hyderabad with itself by next year.

Published on April 29, 2011

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