SBI staff call off week-long strike

      New Delhi: The State Bank of India (SBI) employees union today called off the week-long strike after they reached an agreement with the management on their pension related demands. The announcement was made by the Finance Minister, P.Chidambram, this evening after he facilitated the day-long talk between the striking employees of SBI and its management. According to the agreement reached, a fifty percent pension will be given to the SBI employees whose salary is less than Rs. 21040 while a forty percent pension will be offered to those who draw a salary more than Rs. 21040. It has been reported that other matters will be settled later on. About 2.10 lakh employees in 9,000 branches of the bank across the country were on an indefinite strike since April 3 in support of their demand seeking higher pension. The pension for SBI employees was fixed at a maximum of Rs 4,250 per month compared to other PSU bank employees who get up to 50 per cent of the last drawn pay. Also, the pension for SBI employees had remained unchanged since 1992, though salaries were revised in 2002.

Back to Headlines                  Go To Top