Tags

,

The merger of the 5 affiliated banks – State Bank of Travancore, State Bank of Mysore, State Bank of Hyderabad, State Bank of Bikaner and Jaipur and State Bank of Patiala as also the Bharatiya Mahila Bank with State bank of India (SBI) will result in reduction / retrenchment of about 10% of total staff. This was stated by none other than Rajnish Kumar, Managing Director SBI.

Despite strong protest from the Bank Unions, the merger will be effected from 1st April 2017. Many of the the merged SBI Branches will be closed and the staff relocated. According to the SBI top executive, there will a total staff of about 2,77,000 workers post-merger ( SBI – 2,07,000 plus Merged Banks – 70,000). Within two years about 10% of this staff will have to be reduced according to him.

The closure of branches and reduction of staff will mean less service to the public and more incentive to the growth of private banks. In the name of merger, the neo-liberal pro-corporate agenda of the government is being implemented. What happened with the merger of Air India and Indian Airlines is not forgotten by the public. The new entity became loss making as also a lot of problems arose.

 

Advertisements