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March 30, 2001
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Money > Business Headlines > Report March 30, 2001 |
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SBI officers defy RBI diktat to work on April 1BS Regional Bureau The All India State Bank Officers' Federation has refused to work on April 1, Sunday, as suggested by the Indian Banks Association (IBA) and the Reserve Bank of India (RBI). The apex bank and the IBA have asked banks to keep April 1 as a working day for performing annual closing operations, instead of April 3, Tuesday, on which day the RBI wants the banks to undertake public transactions. The suggestion has been made due to the large number of bank holidays next week when banks will be closed for business. If the response of the Federation is any indication, the call is likely to go unheeded. The dominant officers' union in the State Bank of India has given a call for a day's token strike on April 4, demanding settlement of wage agreement. They also demanded to get the clear picture of the post-voluntary retirement scheme scenario. The date of the strike has strategically been chosen to fall on the only full working day for public transactions in the week. V D Deshpande, chief regional secretary of the Federation, said the suggestion was "unacceptable." He said the IBA had asked banks to keep Saturday, instead of Sunday, as a holiday so that the annual accounts closing could be completed on Sunday. "Our experience tells that requests will soon be pouring in from district collectors across the country to keep the bank open for the full day on March 31, Saturday," he said. "In effect, we will be working on Saturday and Sunday if we agree to the suggestion," he informed. Deshpande said the IBA had no role to play in the dispute and hence its suggestion did not carry any weight. "We cannot agree to the suggestion because not being paid adequate compensation for working on holidays is part of our grievance," Deshpande clarified. Quoting the strike notice served by the Federation on the SBI management on March 13, Deshpande said there were several occasions when officers were required to work on holidays or Sundays as per RBI's directives. "In the case of workmen, they are compensated by way of overtime, whereas the officers are not paid any compensation. The Federation has been demanding introduction of compensation to officers also for working on holidays. The Federation feels that the officers need to be compensated for working on such days," Deshpande read out from the strike notice.
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