Agitated with the government’s move to merge State Bank of Saurashtra (SBS) with SBI, all the officers working in SBI and all the 7 associate banks will observe strike on August 18, 2008. The Branches observing weekly off on August 18, 2008 would observe strike on August 17, 2008, says a release.
The release also says that in case the issues remain unresolved, the officers would observe indefinite strike during the month of September 2008.
The All India State Bank Officers Federation, is of the view that by retaining the associate banks as it is and giving them autonomy, the public sector banks will be in a better position to face the competition from private sector and foreign banks. The merger of SBS with SBI is likely to be followed by merger of other associate banks resulting in closure of branches and retrenchment of staff.
The members are of the view that as such instead of merger with SBI, the associate banks should be given autonomy as envisaged in the amendments to SBI (subsidiary) Act. The Federation has, therefore, strongly protested the government’s move, which has no commercial or social objective but is only politically motivated.