SBI-SBT merger move flayed

Express News Service
Oct 18, 2011 at 11:04am IST

PALAKKAD: The three-day national conference of the State Bank of Travancore (SBT) staff union, which concluded at the Municipal Town Hall here on Monday called on the Centre to abandon the moves to merge SBT with the State Bank of India (SBI) as part of uniting all the affiliated banks.
SBT staff union president K T Babu and general secretary P V Jose told reporters here on Monday that SBT was the lone public sector bank which has its headquarters in Kerala.
The resources mobilised by the bank are used for the development of the state - for funding education and agriculture loans - and therefore should be retained in the state, they said. They said that there was a shortage of employees in the bank. It included the peons, part-time employees, computer operators and security employees. They also called on the management to adopt a more humane attitude while considering the maternity leave and posting of pregnant woman employees.
The conference also called on the state government to cancel the directive issued on September 15, permitting the new generation private
banks also to handle the salaries of employees, pension, government funds, plan funds and the funds of local bodies.
This can be construed as a move to appease the private sector. This will affect the treasury savings and cooperative banks also.
They said the wrong economic policies of the Centre was a blow to the common man.  The resolutions adopted in the conference included the withdrawal of the banking amendment bill-2011, the withdrawal of the Pension Fund Regulatory and Development Authority (PFRDA) Amendment Act, revise the salary of the ex-servicemen and to be vigilant against religious and fascist forces.
The conference elected K T Babu as president, P V Jose as general secretary, K Balachandran as treasurer and P Jayakumar as secretary.

Latest