 "Standard Chartered")
All India Bank Officers' Confederation (AIBOC) on Thursday strongly condemned the vindictive and illegal actions of Standard Chartered Bank (SCB) in terminating two principal office bearers and four members of the bank union.
These officials were part of the Association of Standard Chartered Bank Officers' Kolkata (ASCBO), and their termination was on the false pretext of 'redundancy', AIBOC claimed in a statement.
Those arbitrarily terminated include Satyajeet Tripathy, General Secretary of ASCBO, Tilottama Roy, president of ASCBO, and four other active members of the union, it said.
Their services were terminated with immediate effect, and dues were forcibly settled without due process or dialogue, it claimed.
This brazen action has been carried out during the pendency of industrial disputes before the Central Industrial Tribunal and Labour Court, in clear violation of Section 33 of the Industrial Disputes Act, 1947, it said.
The law explicitly prohibits changes in service conditions or punitive measures against employees during adjudication without prior Tribunal approval, it said.
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 "Sumitomo Mitsui Banking Corporation")
 "Finance Ministry, Deposit insurance limit, Reserve Bank of India, Sanjay Malhotra, RBI")
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