Despite strong opposition from the bank employees and their unions, the Cabinet has reiterated its decision today, 15th February 2017, to merge the following 5 affiliated banks with State Bank of India:
1. State Bank of Travancore
2. State bank of Mysore
3. State bank of Hyderabad
4. State Bank of Patiala
5. State Bank of Bikaner and Jaipur.
The decision of the Cabinet is to be strongly opposed since it is against the interest of the customers, the banks and the employees. This is part of the neo-liberal policy of India and intended to help the private banks. This will result in closure of many branches of the affiliated banks and retrenchment of many employees through VRS or CRS.
Our full support to the struggle of the bank employees against this anti-worker anti-PSU decision.