SBI Bank Merger : No Loss of Salary and Jobs

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Good New for SBI Aspirants regarding SBI Bank Merger.

Chairperson Arundhati Bhattacharya has said that the employees and aspirants need not worry of the upcoming SBI Bank Merger as there will not be any losses to their jobs or salaries in the entire SBI Bank Merger process.

The statement came after the Bank employees struck work on Friday, 29th of July 2016 against this upcoming merger.

Bhattacharya said “There are no losses of jobs or salary. There only might be a few transfers, that’s it. There is no reason for strike,”

“They are apprehensive of change, and the merger will be completed by the end of this financial year” she added.

What was the Issue regarding SBI Merger

Last year in 2016, a decision came by the Union Cabinet regarding the merger of five associate banks viz State Bank of Bikaner and Jaipur, State Bank of Travancore, State Bank of Patiala, State Bank of Mysore and State Bank of Hyderabad as well as Bharatiya Mahila Bank with State Bank of India.

SBI Bank Merger Benefitting Job Aspirants???

Arundhati Bhattacharya, the chairperson of State Bank Group appreciated the move and said,

“The merger of SBI and its associate banks is a win-win for both. While the network of SBI would stand to increase, its reach would multiply. One can expect efficiencies to be created from the rationalisation of branches, common treasury pooling and proper deployment of a large skilled resource base. Currently, no Indian bank features in the top 50 banks of the world. With this merger, some visibility at the global level is likely to increase. Customers of associates and subsidiaries of the bank will also be beneficiaries.”

How Will SBI Bank Merger Benefit The Customers?

The SBI Bank merger will create the asset base of the SBI Group of Rs 37 Lakh Crore (37 Trillion).
Also The customer base will increase to over 50 crores.
SBI first merged State Bank of Saurashtra with itself in 2008. And Two years later in 2010, State Bank of Indore was merged.

Will SBI Bank Merger Benefit The Job Aspirants???

Currently, the vacancies in SBI & its 5 associate banks are filled through separate recruitment.
After the merger, all associate banks would become as SBI.
There will be a single combined recruitment for the entire SBI Group on a larger scale (Vacancies of SBI and SBI Associate Bank will be combined) for the entire SBI group.

The vacancies may decrease due to duplication because of SBI Bank Merger, but SBI is stating that because of SBI Bank merger, the Growth will increase and new branches will be opened across the world in various countries, which will compensate the decrease in vacancies because of de-duplication of some branches

Friends, this is it from our side regarding the Merger of State Bank with its associates.We will update you with all the happenings on the real time basis. If you have any queries regarding SBI Bank Merger, we will be glad to answer them.