The Central Government has decided to merge associate banks with State Bank of India (SBI). The staff, belonging to All India Bank Employees Association and All India Bank Officers` Association is protesting against the Centre’s decision. Two employee associations, with strength of around 5 lakh bank staff, will go for an all India strike on July 13.
Meanwhile, on July 12, around 45,000 employees in the associate banks of SBI will also go for an all India strike against the decision.
The impact of the merger would be that five banks will be closed and their business will be merged with SBI and many branches will be closed.