Ahead of merger, SBI issues advisory to customers of associate banks

Tribune News Service

Chandigarh, March 24

Even though the merger of SBI’s associate banks with the country’s largest bank is effective from April 1, it would require around two months’ time to integrate the systems completely. During this intervening period from April 1, 2017 to May 31, 2017, all customers of associate banks have been issued advisory by the SBI through an e-mail to avoid any kind inconvenience.

In an e-mail sent to SBoP customers, SBI has advised the customers to use the present branch only for usage of cash deposit machine, clearing of cheques & other instruments. In addition to this, it has also advised to transact all forex business and transactions through the existing branches.

The e-mail further suggested the customers to use existing cheque books provided till they receive new cheque book of SBI. “Government business & NPS (New Pension System) contribution in transfer mode can be done through your existing branch,” the e-mail stated.

The bank also advised the customers to use the existing internet banking credentials for login and transactions through the erstwhile bank.

The mail also stated that transfer, remittances between SBI and erstwhile associate banks and branches will be handled free of cost.

Over 100 SBBJ branches likely to be closed+

JAIPUR: Ahead of the merger with parent SBI, over 100 branches of State Bank of Bikaner and Jaipur (SBBJ), including some offices, are likely to be closed in Rajasthan despite the bank having launched a VRS scheme.  Employees of all cadres are under stress over the merger and also due to the VRS scheme launched by the bank with a deadline of April 4, said Mahesh Mishra, general secretary of All India SBBJ Employees Coordination Committee today. At present, SBBJ has 1,050 branches in Rajasthan and total 1,313 in the country. Out of this around 100 to 125 branches and offices might be closed.  Since the pay settlement of all bank employees is due by November 2017, and their salary package would go up, a senior official asked why would an employee opt for the VRS scheme?  SBBJ Managing Director Dibakar Mohanty was not available for comments. OC