SBI associate banks' unions strike against merger proposal

A section of employees of the five associate banks of SBI went on a one-day strike today to protest the proposed merger with their parent bank.
The employees also called for nationwide strikes on June 7 and July 20.
"SBI management's arrogant and high-handed approach has forced an all-India strike at five associate banks," the All-India Bank Employees Association said in a statement late this evening and claimed full success of the strike.
"We will continue to oppose the merger move. This is a plan to hijack national assets. We also urge political parties to join us," the association said.

SBI has five associate banks --- State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank Of Travancore.
SBI's Board had on Tuesday discussed acquiring its associate banks, including all their assets and liabilities.

"This 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.
Besides, SBI also proposed to take over the first women-oriented Bharatiya Mahila Bank and is awaiting government approval.

Yesterday, another union, the All-India Bank Officers Association, requested the government not to give consent to the SBI's merger plan.