Karnataka - Gulbarga   

SBH employees to strike work today

GULBARGA: Employees of the State Bank of Hyderabad (SBH) will strike work on Monday in protest against the attempts by the State Bank of India (SBI) to merge with it all its subsidiary banks.

Srinivas Joshi, General Secretary of the Karnataka unit of the State Bank of Hyderabad Staff Association, said here on Sunday that despite protests by the association and the State Sector Bank Employees’ Association, the management went ahead and approved a proposal to merge the State Bank of Saurashtra with the State Bank of India at its board meeting on August 25. He said that the merger move was against the decision of the Union Government which had amended the State Bank of India (Subsidiary Banks) Act providing freedom to associate banks to raise their capital base through public issues and make them strong and independent.

The amendment also sought autonomy to associate banks with the appointment of a fulltime Chairman to each associate bank, Mr. Joshi said.

He said that if the State Bank of Hyderabad was merged with the State Bank of India, it would not only affect the employees, but also the people.

All the associate banks were performing well and had been making profits, besides acting as bankers to the government ever since their inception, he said.

The associate banks were performing better than the State Bank of India in several areas, Mr. Joshi said.

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