SBI merger: Hyderabad HC stays absorption of associate banks' officers

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The scheme for absorption of 30,000 officers of five associate banks initiated by State Bank of India (SBI) hit a speed bump on Thursday, with the high court here issuing an interim order, directing the country’s biggest lender to not act on the options given by these staffers till June 15.

The court has been petitioned by State Bank of Hyderabad and Associate Banks Association. It has  challenged the scheme by which options have been sought from the officers to be absorbed. They contend there is lack of clarity on conditions such as seniority after the merger and on alleged disparities in superannuation benefits for SBI officers and those of the associate banks in a merged entity.

The HC has directed SBI to file a reply before a further hearing. This came on the day of expiry of the deadline for submission of options for officers of the associates being merged — State Bank of Hyderabad, State Bank of Bikaner & Jaipur, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore, besides Bharatiya Mahila Bank.
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