Unions of SBI associates plan more strikes against merger plan
After Friday’s bank strike, the employees’ union of State Bank of India’s subsidiaries plan to go for a second strike on June 7 and a third on July 28 against the proposed merger with the parent bank.business Updated: May 21, 2016 01:31 IST
After Friday’s bank strike, the employees’ union of State Bank of India’s associates plan to go for a second strike on June 7 and a third on July 28 against the proposed merger with the parent bank.
About 45,000 employees including clerical and subordinate staff of the five associates, went on a day-long nationwide strike on Friday with help of the All India Bank Employees Association, impacting daily banking transactions.
“Today’s strike was successful. The employees were intimidated by the management who called the strike illegal and that action will be taken. But we will continue to oppose the merger of 5 large associate banks into SBI...We will again go on strike on June 7 and thereafter July 28,” said CH Venkatachalam, general secretary of the All India Bank Employees Association.
About 1,000 employees also staged a demonstration against the proposal at Azad Maidan in Mumbai.
SBI has five associate banks -- State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank Of Travancore.
Cash receipts, outward clearing and other transactions were said to have been impacted by the strike on Friday.
The SBI board on Tuesday discussed the possibility of merging its associate banks with itself to create a banking monolith with a balance sheet size of Rs 37 lakh crore.
“The discussion is purely exploratory at this stage and not certain. A proposal seeking an in-principle approval to start negotiations with associate banks will be submitted to the central government,” SBI had said after the board meeting.
First Published: May 20, 2016 22:41 IST