Strike by officers hits clearing operations at SBI group
18 Aug 2008
Mumbai: Clearing operations at the country's largest lender SBI and its seven associate banks were paralysed today following a one-day strike by officers protesting the merger of State Bank of Saurashtra with the parent bank.
Normal services at most bank branches were affected and doors remained shut for customers in various parts, including Mumbai and Delhi, even though employees below the rank of officers did not take part in the strike.
However, ATMs were working normal.
SBI and its associates have around 80,000 officers on their rolls across 15,000 branches across the country.
All-India State Bank Officers Federation president T N Goel said officers are opposing the merger since balance sheets of SBI and SBS are "common" and the argument that the merger would enhance the size of balance sheet falls flat on the ground. Besides, work culture between the staff of the two banks is not identical, he said.
Banking transactions will remain closed for two more days in Maharashtra on account of Parsi New Year tomorrow and Left-sponsored a strike on 20 August.
