State Bank of Mysore to observe strike on July 6
MUMBAI, July 3 (Reuters) - State Bank of Mysore (SBKM.BO: Quote, Profile, Research) said on Friday its employees have proposed to go on strike on July 6 to protest the merger of State Bank of Indore with State Bank of India (SBI.BO: Quote, Profile, Research) and other associate banks.
The boards of SBI and State Bank of Indore had approved an acquisition of the latter by the country's biggest lender on June 19.
SBI has also absorbed State Bank of Saurashtra and has said it is progressively looking to merge its other associate banks.
Six associate banks of SBI will participate in the strike on Monday, it said.
SBI along with associates control a quarter of Indian bank loans and deposits. (Reporting by Aniruddha Basu; Editing by Sunil Nair)
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