Financial Daily from THE HINDU group of publications
Wednesday, Apr 05, 2006


Group Sites

Home Page - Public Sector Banks
Money & Banking - Trade & Labour Unions

SBI strike: Govt not to relent

Our Bureaus

Operations at all branches continue to be affected; no cheque clearance

New Delhi/Mumbai , April 4

The indefinite strike by the State Bank of India employees, , which entered the second day on Tuesday, is heading for a stalemate with the Government appearing to be in no mood to relent to the pressures of the bank's employees.

Senior Finance Ministry officials indicated that the Government was not in favour of acceding to the demands as it could result in similar demands being placed by other state-owned banks.

The major demand of the striking SBI employees has been a comprehensive review of the pension ceiling in order to provide for 50 per cent of the last drawn pay as pension.

High-level Finance Ministry officials held deliberations to bring an early end to the agitation. Consultations were also held with the top brass of the SBI. However, details of the decisions are not available.

Meanwhile, the SBI officers' union has indicated that it was willing to enter into negotiations with the Government. "We are willing to talk and negotiate on the issue if the Government calls us," the All-India SBI Officers Federation Vice-President, Mr T.N. Goel, told Business Line.

ATM usage

Operations at all SBI branches were paralysed for the second day today. Cheque clearing was affected as all SBI-run clearing centres could not operate.

Meanwhile, to help customers, the SBI management said they could avail themselves free of charge of the ATM facility of SBI's associate banks and other banks with whom SBI has a bilateral arrangement.

The banks are HDFC Bank, UTI Bank, IndusInd Bank, Corporation Bank, Indian Bank, Andhra Bank, Dena Bank, UCO Bank and Punjab National Bank. SBI has an ATM network of 5,000. The usual charges otherwise levied under the bilateral arrangement with these nine banks would be waived or refunded for the transactions made during the strike, said the press release issued by SBI.

Mr Abhijeet Datta, Corporate Development Officer, SBI said, "There will be a loss to the bank as banking operations have been hit, but we have not calculated the amount of loss."

Related Stories:
SBI strike hits banking operations nation-wide
SBI staff hold sit-in demonstration

More Stories on : Public Sector Banks | Trade & Labour Unions | State Bank of India

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
AAI inks pacts for airport revamp

Toy industry puts on muscle
SEBI rationalises NFO expenses by MFs
MphasiS BFL welcomes EDS offer
The crucial 9 pc
Govt gives in-principle nod for AI, IA merger
Improving returns from excess reserves
UB may gain control of Foster's Indian business
TV18 to pick up 50% in JobStreet
Flextronics to invest in SemIndia project
Veg oil market in bear grip
Curbs on iron ore exports likely
SBI strike: Govt not to relent

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line