Don't finalise benefit options for associate banks' staffers: HC to SBI

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The Hyderabad High Court has directed the State Bank of India (SBI) not to finalise the options regarding retirement benefits offered to the officers of its associate banks until June 15.

The SBI had set the deadline of April 13 for the officers of five associate banks (which merged with it on April 1) for choosing options regarding the provident fund, pension and gratuity benefits, among other issues.

The Associate Bank Officers' Association and some others had moved the court against this directive, saying the time given was very short as the process of integration of the SBI and associate banks was underway and their members won't be able to take decision before April 13.
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