The Andhra Pradesh and Telangana Bank Employees Federation has opposed the proposal of the Union Government to merge the State Bank of Hyderabad (SBH) with the State Bank of India (SBI) and requested the Telangana Government to take up the issue with the Centre to halt the process.
“The SBH is the principal banker of the Telangana Government and it is a performing bank with profit margins. Why should it be merged with a ‘non-performing’ bank like an SBI which is saddled with thousands of crores of non-performing assets (NPAs)?. We will also be lobbying with the MPs of the State to raise the issue in Parliament,” said B.S. Rambabu, general secretary, at a press conference here on Friday.
CPI general secretary Suravaram Sudhakar Reddy, also chairman of the federation, said the proposed consolidation of banks went against the very spirit of public sector banks.
