TO ALL OFFICE BEARERS, STATE FEDERATIONS & ALL INDIA BANKWISE ORGANISATIONS:
Dear Comrades,
Observe Anti-Merger Day on 5th August, 2010
All of us are aware that the Government has been pursuing the policies of banking sector reforms like privatisation, liberalisation, foreignisation and consolidation. These measures are not at all warranted in our country and in our banking system. These measures would not help to strengthen the public sector banks rather it would only weaken and destroy the public sector banking. While the real need is to expand and strengthen public sector banks, the Government is working for consolidation. Recently, despite our various protest actions so far the Government has gone ahead unilaterally and the Cabinet has approved the merger of State Bank of Indore with State Bank of India. At a time when the world over it is proved that a big bank does not mean a strong bank, our Government is moving towards making SBI a still bigger bank. In fact, it is not understood how the merger of State Bank of Indore would in any way help the SBI.
On the other hand, the merger of State Bank of Indore simply means closure of that Bank and this would greatly affect the contribution made so far by State Bank of Indore to our economy particularly in Madhya Pradesh and Chattisgarh. It is reported that the Government is going ahead with the merger and steps have been taken to implement the same.
The issue was discussed in our recently held General Council meeting at Ahmedabad on 29th and 30th July 2010 and it was resolved to oppose the unwarranted move by the Government.
A meeting of the State Sector Bank Employees Association (SSBEA) was also held during the GC meeting and this meeting also decided to protest against the closure of State Bank of Indore and its takeover by SBI.
To express our protest and opposition to this unilateral, arbitrary and unwarranted decision, while various programmes are being chalked out, all our units are advised to implement the following programme immediately:
- 5-8-2010 : Mass Demonstrations to be organized by our State Federations before Head Offices of all Associate Banks and in all State Capitals in front of SB Indore branch or any one of the Associate Banks
- 8-8-2010 : General Body meeting of S.B. Indore employees at Bhopal and Indore to be addressed by General Secretary of AIBEA/leaders of SSBEA
- 25-8-2010 : All India Protest Day
State Federations are advised to take immediate steps to organize the above programmes with mass mobilisation of our members.
Down with Consolidation and Merger of Banks
Yours comradely,
C.H. VENKATACHALAMGENERAL SECRETARY