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Employees of SBI’s Associate Banks Strike Against Proposed Merger

SBI’s five associate banks went on a nation-wide strike against SBI’s proposal of a “forceful closure”.

Updated
Business
1 min read
The head office of State Bank of India (SBI) in New Delhi. (Photo: Reuters)
  • The board of State Bank of India (SBI) submitted a proposal to the Central Government on 10 May and sought an “in-principle approval” to start negotiations with its five associate banks.

  • This was followed by a nation-wide strike of All Indian Bank Employees Association (AIBEA) in the five banks on Friday. The strike was to protest the “forceful closure and takeover” by SBI.

  • AIBEA vice-president, Vishwas Utagi claimed that the forcible decision was in opposition to the suggestions of Union Finance Minister Arun Jaitley.

(With agency inputs.)

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