With the Union Cabinet approving merger of five State Bank Group’s associate banks, employees of State Bank of Hyderabad — largest and most profitable among associate banks — have decided to go on str
With the Union Cabinet approving merger of five State Bank Group’s associate banks, employees of State Bank of Hyderabad — largest and most profitable among associate banks — have decided to go on strike on July 28 and 29 against the merger.
T0ey demanded that Telangana Chief Minister K. Chandrasekhar Rao get a unanimous resolution passed in the Legislative Assembly against the merger.
In Kerala, leaders of various political parties in Kerala have demanded that the Centre withdraw the move to merge associate banks, including State Bank of Travancore, with the SBI.
A meeting was held in to “save” the State Bank of Travancore (SBT) and “stop merger” of associate banks with the State Bank of India.
Politicians said that with the merger, SBT, the only Kerala based public sector commercial bank, will cease to exist.
SBH employees clai-med that the people of Telangana consider SBH as a bank of Telangana and the state government should not allow the Centre to wipe out SBH, which has been the identity of Telagana in the banking sector for about 75 years.
Employees fear that their career growth prospects will also be hit after the merger as their present seniority would not be considered for promotion and other benefits.
Established as Hyder-abad State Bank in 1941 by the erstwhile Nizam regime, the bank opened its first branch at Gunfo-undry in the city in 1942.
“There is no reason to merge SBH with SBI. It also results in revenue loss for Telangana government. Being located in Telangana, some portion of the bank’s profits are shared with the Telangana government. After merger, the share will go to Maharashtra as SBI headquarters are located in Mumbai,” said Suravaram Sudhakar Reddy, honorary president of AP and Telan-gana Bank Employees Federation.
S.B.Rajasekhar, president, SBH Staff Association, said, “SBH should not be looked at as a mere bank. It has emotional and psychological attachment with the people of Telangana since it was established by the erstwhile Nizam regime in 1941.”
