Bhopal, June 20 (Inditop.com) Employees of the State Bank of Indore will go on a day’s strike July 22 to protest the bank’s proposed merger with the State Bank of India, a union leader said Saturday.
S.K. Bindal, general secretary of the All India State Bank of Indore Officers’ Coordination Committee, said the merger proposal was approved despite strong opposition by the employees.
“The merger was not appropriate because all associate banks were doing good work in their respective areas. The size alone does not make a bank globally competitive as was evident from the collapse of some big banks in the West,” he said.
The union members Saturday demonstrated outside bank headquarters in Indore and divisional headquarters in Bhopal to protest the merger decision.
The board of State Bank of Indore Friday gave its nod to the merger plan and requested the management to go ahead with the proposal.
Bank managing director Soundara Kumar, however, said the majority of the employees were happy with the proposal.
“We conducted a poll which revealed that 90 percent employees are in its favour as the move will be benefit all parties concerned – the employees, the customers and the bank,” he added.
“I foresee the merger to be complete by December-end, subject to necessary government approvals,” Kumar said.
He said only a few union leaders were opposing the merger.
