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This is in response to the opinion aired by Mr.Prasad Reddy.
I strongly agree with his opinion.
I am an employee of SBH that's why I know the intricacies of this issue.
If the seven associate banks of SBI are amalgamated into one entity it will give a thrust to our banking industry. The new will have more autonomy and can plan its development on its own with out taking any cue from SBI.
The new bank will have widespread network across India. Though we have some big banks in India, they are densed in one part of India only. If the merger happens then the new bank will have branches in all locations and it can expand its business to new places and even to foreign countries.
I don't understand why these banks are kept as subsidiaries of SBI all these time. And I also don't understand why the government does not work in this direction though the unions brought this issue to the notice of the governemnt.
This is the right time the governemnt should work in this direction.
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