Operations in SBI subsidiary banks hit

Chennai, Sep 27 (UNI) Banking operations in the subsidiary banks of the State Bank of India (SBI) were today affected following a nationwide strike to oppose the merger of subsidiary banks with the SBI.

Tamil Nadu Bank Employees Federation (TNBEF) General Secretary E Arunachalam told UNI here that barring the State Bank of Saurashtra, all the employees and officers working in the subsidiary banks of the SBI, participated in the strike.

The employees of State Bank of Patiala, State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad, State Bank of Indore and State Bank of Bikaner and Jaipur assembled under the banner of the All India Bank Employees Association (AIBEA), Bank Employees Federation of India (BEFI) and All India Bank Officers Association (AIBOA).

They staged a demonstration in front of the State Bank of Hyderabad premises at Parry's corner here, opposing the SBI's proposal to merge the subsidiary banks with it.

Mr Arunachalam said the proposed merger was not in the interests of the general public or the associate banks or the employees of the subsidiary banks.

Alleging that the merger move would only benefit the SBI, he said the merger of subsidiary banks with the SBI would lead to closure of a large number of bank branches and reduction of manpower, which would certainly affect service to the public.

UNI