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AIBOA opposes merger of Associate Banks with SBI 11/6/2016 10:58:40 PM Early Times Report Jammu, Nov 6: All India Bank Officers Association (AIBOA) opposed merger of associate banks with State Bank of India. According to press release the AIBOA said that the SBI having its market share gradually declining in the last year, is under the compulsion of merging the 5 Associate Banks to boost the business performance. The five Associate Banks, State Bank Of Hyderabad(SBH), State Bank Of Patiala(SBP), State Bank of Bikaner and Jaipur(SBBP), State Bank of Mysore(SBM)and State Bank of Travancore(SBT). The branches working in 5 states Kerala, Karnataka, Andhra Pradesh and Telangana, Rajasthan and Punjab and Haryana are functioning effectively than SBI branches. AIBOA demands that the branches of State Bank of India in 5 states should be merged with the five associate banks thereby declining trend can be arrested. State Bank of India carrying a bad loan of Rs 1,00, 000 crores, should take steps to recover the amount of bad loans instead of the proposed merger plan of Associate banks with Banking Industry, the main nerve system of the development of the nation, handling the total business of Rs 200 lacs crores with breakup of Rs 116 lacs of deposits and advances of Rs 84 lacs. The bad loans in the Industry are hovering around Rs 20 lacs crores, the major portion of which belongs to 'Infrastructure' Coal blocks and regular piling of loans. The Owners of the banking system should initiate steps with effectiveness to recover the money locked up in the bad loans on priority basis. Bankmen have proved to the Nation in the financial inclusion exercise within a shortest span of time adding nearly 20 crores accounts with total deposits of Rs 36000 crores.   Share This News with Your Friends on Social Network     Comment on this Story

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