Date:04/04/2006 URL: http://www.thehindu.com/2006/04/04/stories/2006040422040400.htm

Karnataka - Bangalore

Banking operations affected by SBI employees' strike

Special Correspondent

Staff hold demonstration in front of local head office

NO BUSINESS: A branch of the State Bank of India in Bangalore on Monday wears a deserted look owing to the indefinite strike by employees and officers of the bank. — Photo: Sampath Kumar G.P.

Bangalore: State Bank of India (SBI) branches in Bangalore were virtually closed on Monday as employees and officers embarked on an nation-wide indefinite strike to press their demands for revising the pension scheme and other related issues.

The strike affected clearing operations, money market and foreign exchange transactions given the fact that SBI is a major operator in this sector.

In Bangalore, staff members assembled in large numbers in front of the Local Head Office and held demonstrations demanding immediate resolution of the issues raised by the two workers' Federations.

Shantha Raju, General Secretary, All India State Bank Officers Federation (AISBOF), said that the workers were "compelled" to go on strike with a view to find a final solution to the demands after last-ditch attempts by the Union Labour Minister failed to avert a strike.

"The strike will continue till the matters are resolved to the full satisfaction of both the federations", he said in a statement.

Demands

The SBI employees and officers are demanding pension at 50 per cent of the last drawn pay, commutation on par with industry, index-linked DA on pension on par with industry, family pension on par with industry, revising DA formula on par with industry for all past retirees and upgrading basic pension of all past retirees.

A prolonged strike will severely hit customers who have availed of the Electronics Clearance System (ECS) facility with SBI for their utility payments as well as repayment of home loans and credit cards.