The bank unions, who were to go on nation-wide strike in connection with proposed merger of SBI and the State Bank of Indore, have decided to defer the nationwide strike on July 6, expecting a meaningful solution in the talks between managements of both banks.

Earlier, the Deputy Chief Labour Commissioner met Mr. C.H. Venkatachalam, the All India Banks' Employees Association (AIBEA) General Secretary and urged employees to sort out all issues with mutual discussions. However, Mr. Venkatachalam, said: “We strongly opposed the closure of any of Associate Banks and their merger with SBI."  

He said all subsidiaries of SBI are doing well and delivering efficient services without many losses. Thus, there is no need of any merger of the subsidiaries, and employees unions will always oppose any such act, against the interests of workers.  

The Deputy Chief Commissioner said that complex issues, such as mergers of subsidiaries, can not be solved overnight. Both parties should come forward for talks and find an amicable solution. Mr. Venkatachalam also advised both parties not to approach government or RBI to address the merger issue.