Sbi Officers Strike Illegal, Says Depositors Association

The All India Bank Depositors Association (AIBDA) has described the State Bank of India (SBI) strike as illegal and asked the bank chairman to take punitive measures against the participating officers.

In a strongly-worded letter dated June 12 to SBI chairman M S Verma, AIBDA asked him not to relent to the demands of the striking employees, as it is illegal. The SBI officers association which went on flash strike on June 11, is protesting against the suspension of three officials after the investigation for their procedural lapses in the CRB capital markets scandal.

The flash strike by the bank employees is essentially holding the economy to ransom. Legal remedies are available, they have no business to disrupt the banking system, M R Pai, honorary secretary, AIBDA said.

 

The moment the bank employees inconvenience the general public, however legitimate the cause may be, they (employees) forfeit any moral right to fight for it, Pai said.

The depositors association has asked the SBI chairman no to buckle under pressure from the striking employees or even from political quarters.

Copy of the letter procured by Business Standard says, If the officers association insists on an indefinite strike, please stand very firm. As the strike is illegal, treat the strike period as a break in service of participating officers. Please refuse to accept telephonic instructions to give in to the demands of the officers association either from political bigwigs or babus of the finance ministry.

AIBDA, in the letter, points out the firm stand taken by the R K Talwar, ex-SBI chairman, by not giving in to political pressure.

Says the letter: You (Varma) are occupying a seat which was once graced by a distinguished banker, R K Talwar, who refused to be cowed down by a union minister of state.

A minister of state called on Talwar to his office and insisted that he act in a particular way in an industrial relations dispute. Talwar had a different view on this issue and politely declined to fall in line. The minister was furious. Are you refusing to carry out the orders of the government?

Talwar without losing his cool, replied, Mr Minister, you are not running SBI. I am. It is for me to decide what is in the best interest of the bank. You have a right to decide whether I should continue to be the chairman, but you have no right to tell me how to administer the bank. If you want to issue a directive, to me please do so in writing.

The SBI Act provides for the issue of such a directive, but before issuing a directive, you must first establish that it is in public interests as provided for in the Act.