Employees and officers working in associate banks of the State Bank of India [Get Quote] will observe a protest strike on September 27 to oppose the proposal to merge their banks with the SBI, the All India Bank Employees' Association said on Friday. The all India strike would be observed by employees of State Bank of [Get Quote] Patiala, State Bank of Travancore, State Bank of Mysore [Get Quote], State Bank of Hyderabad, State Bank of Indore and State Bank of Bikaner and Jaipur under the banner of AIBEA and All India Bank Officers' Association, AIBEA General Secretary C H Venkatachalam said in a statement.
Stating that the merger proposal was made on the plea that the SBI had to be strengthened, he said it could not be done by closing down the associate banks in the name of merger.
The associate banks had grown and progressed over the years with overwhelming contributions to the economy and development of concerned states where they were predominantly located.
In some of the states, these associate banks were even bigger in size and business compared to SBI in the concerned state, he claimed.
Venkatachalam said the merger would result in closure of a large number of branches and consequent displacement and forced exit of the staff.
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