Patiala, Oct 31 (UNI) The officers of State Bank of Patiala today observed complete strike to protest against the proposed merger of the Associate Banks of State Bank of India with State Bank of India.
Mr Amar Singh, General Secretary of Associate Banks Officers Association (State Bank of Patiala) said, "The Association is opposing the proposed merger of the Associate Banks viz State Bank of Patiala, State Bank of Bikaner and Jaipur, State Bank of Hyderabad, State Bank of Saurashtra, State Bank of Mysore, State Bank of Indore and State Bank of Travancore with SBI as the interest of the members would be adversely affected by merger which would eventually lead to closure of branches and possible retrenchments." "The merger will be against the interests of the Bank as the Associate Banks are performing commendably well since inception and are profit making entities." Mr Amar Singh said, "The demand for non merger is in tune with the decision of the Parliamentary Committee in favour of greater degree of autonomy to the Associate Banks on par with Nationalised Banks. Besides the Parliament has recently amended the SBI (Subsidiary Banks) Act to provide functional autonomy with a provision for having independent Chairman and freedom to the Associate Banks to raise their capital by going public with a view to make them strong and independent identities." Mr Amar Singh warned the State Bank Management that the Association will resort to further agitational programames in case there is any move to merge the Associate Banks with SBI.