Bank unions are to go on a one-day strike on 8 January, 201,6 over the State Bank of India’s (SBI) `Career Progression Policy’ in its `associate banks’ -- State Bank of Travancore, State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Hyderabad and State Bank of Patiala. The Budget session of Parliament will also see a two-day strike call on the proposed privatisation of IDBI Bank.
The strike on January 8 is basically a shift of the two-day strike call given for the 1st and 2nd December over the same issue. A union functionary said the call was put off as “the SBI management was seen making conciliatory gestures. It called for talks on December 3rd, but it’s fallen through”.
SBI’s management (of the mother bank, SBI) had asked associate banks to adopt the `Career Progression Policy’, but the State Sector Bank Employees Association (SSBEA) wanted to have none of it and wanted to maintain the distinct identities of SBI’s associate banks. SSBEA sees in this a plot to merge to associate banks into SBI.
Meanwhile, the Budget session of Parliament will see bank unions in strike mode over the proposed privatisation of IDBI Bank. “We are awaiting the dates of the Session. It will be a two-day strike over IDBI Bank”, said a source.
Bank unions contend the Centre in order to achieve the target of disinvestment of Rs 69,500 crores wants to “sell family silver to high net worth individuals”. Their point is that on 8th December 2003, then finance minister Jaswant Singh had given a categorical assurance in Parliament the Centre will hold 51 per cent in IDBI Bank which is classified as “other public sector bank”
On Tuesday banks union also held a “dharna” at Azad Maidan in Mumbai over the Pearl chit fund scam. Investors are said to have lost nearly Rs 49,000 crore in the company, according to the unions.On 12th August 2015 Sebi had asked the company to refund money to investors.
