Chairman of the State Bank of India (SBI), O P Bhatt, said on Tuesday that there is no employee backlash on the government's decision to merge it with its associate State Bank of Saurashtra (SBS).
Bhatt said the government’s plans to merge all its seven associate banks with itself will depend on how the merger with SBS proceeds. On August 14, the Finance
Ministry approved a plan for SBI to acquire SBS. “We will take it from there depending on the experience,” he said.
Some SBI and SBS employees went on strike on Monday. Also, bank unions have called a broader strike on Wednesday to protest against the merger.
Bhatt, however, played down the employees' hostile response, saying: “There are some people who for some reasons have gone for a strike. But if you talk to the employees of the bank or associates, they are very happy foabout this.” Asked whether the strike planned for Wednesday will delay the merger, Bhatt said, “I don't think so.”
The State Bank and its seven associates, which include State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur, control a quarter of the banking business in the country.
Courtesy : www.indianexpress.com
Bhatt said the government’s plans to merge all its seven associate banks with itself will depend on how the merger with SBS proceeds. On August 14, the Finance
Ministry approved a plan for SBI to acquire SBS. “We will take it from there depending on the experience,” he said.
Some SBI and SBS employees went on strike on Monday. Also, bank unions have called a broader strike on Wednesday to protest against the merger.
Bhatt, however, played down the employees' hostile response, saying: “There are some people who for some reasons have gone for a strike. But if you talk to the employees of the bank or associates, they are very happy foabout this.” Asked whether the strike planned for Wednesday will delay the merger, Bhatt said, “I don't think so.”
The State Bank and its seven associates, which include State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur, control a quarter of the banking business in the country.
Courtesy : www.indianexpress.com