Soon after SBI announced its intention to acquire State Bank of Indore, the employees of smallest subsidiary of the group threatened to go on nation-wide strike on June 22 to stall the proposed merger move.
"As per the advice of AIBEA and AIBOA, the entire employees and officers of State Bank of Indore will observe an strike on June 22," said All India Bank Employees' Association General Secretary C H Venkatachalam.
Earlier this month, the union had already announced nation-wide strike by associate banks on July 3.
Vekatachalam in the statement said despite the protest by the the workman Director, Atul Pradhan, the board of State Bank of Indore approved the resolution by majority vote.
Meanwhile, banking behemoth SBI today announced its plans to merge another associate State Bank of Indore, a development that will reduce the number of SBI associate banks to five.
SBI, which has informed the Bombay Stock Exchange about its proposal to acquire Indore-based associate bank, had earlier in August 2008 had merged State Bank of Saurashtra with itself.
State Bank initially had seven associates and with the merger of State Bank of Indore, the number would come down to five.
"As per the advice of AIBEA and AIBOA, the entire employees and officers of State Bank of Indore will observe an strike on June 22," said All India Bank Employees' Association General Secretary C H Venkatachalam.
Earlier this month, the union had already announced nation-wide strike by associate banks on July 3.
Vekatachalam in the statement said despite the protest by the the workman Director, Atul Pradhan, the board of State Bank of Indore approved the resolution by majority vote.
Meanwhile, banking behemoth SBI today announced its plans to merge another associate State Bank of Indore, a development that will reduce the number of SBI associate banks to five.
SBI, which has informed the Bombay Stock Exchange about its proposal to acquire Indore-based associate bank, had earlier in August 2008 had merged State Bank of Saurashtra with itself.
State Bank initially had seven associates and with the merger of State Bank of Indore, the number would come down to five.
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