Protest against merger of bank

Employees of State Bank of Indore and other State Bank of India (SBI) associate banks on Thursday staged a protest in front of the State Bank of Mysore headquarters here against the move to merge the State Bank of Indore (BoS) with SBI.

The State Bank of Indore staff are unhappy about the merger and announced that they would intensify the agitation.

Merger of the two banks will allow State Bank of Indore to become a part of the largest public sector bank in India and hence it will be able to get over with the debt burden that it is facing now. But, the merger will result in reduction of the number of branches and removal of some of the employees from the State Bank of Indore, the protestors said.

The entire workforce of State Bank of Indore had been opposing the merger and also requesting the Reserve Bank of India (RBI) to review the deal, they said. Officials would meet Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee to discuss about the issue.

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