THIRUVANANTHAPURAM: The CPI State secretariat has called upon the Central government to drop the move to merge State Bank of Travancore (SBT) with State Bank of India (SBI). In a statement here on Saturday, the CPI leadership said the move to merge SBT with SBI would prove detrimental to the interests of both the people and the government of Kerala.
The SBT is the only nationalised bank with its base in Kerala. Most of the State government’s transactions were carried out through SBT. The bank also plays a major role in promoting agriculture, small trade and self-employment initiatives.