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TS opposes SBH merger into SBI: Etala

Wed, Aug 17, 2016, 07:05 PM
Hyderabad, Aug.17: Telangana Finance Minister Etala Rajender today stiffly opposed the Centre’s plan to merge State Bank of Hyderabad (SBH) into the banking behemoth SBI.

He tersely stated that the Telangana Government will not agree to such merger plan as it hampers our state interests. Stating that the SBH belongs to Telangana and will continue to be with it for its special recognition he said.

The Finance Minister also maintained that during Nizam’s Rule before 1956 the SBH was with the Hyderabad state and now will remain with Telangana state. The State Government firmly opposes the merger plan he said.

Rajender also pointed out that Kerala Assembly also passed a resolution against the merger of Travancore bank into SBI. He made it clear that the State Government did not give mind on conducting a special Assembly session to pass a resolution against the merger plan.

I will take up the issue with Chief Minister K Chandrasekhar Rao for taking a final call he maintained. Rajender remarks came in the wake of a Union Cabinet in recent past approved the plan to merge five banks into SBI including SBH and SBT.

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