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Hyderabad HC stays absorption of associate banks' officers post SBI merger
April 24, 2017
- 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.
