The Bank Employees Federation of India (BEFI) has strongly protested the SBI-Reliance agreement, according to which most of the banking functions of the SBI is being handed over to the Reliance and also 50% or so of the profit also.
The agreement has been signed weeks back very secretly and has come out in the open two days back only. According to the agreement, the take over will be done with retrospective effect from last year.
If the agreement is implemented, many employees in SBI will become surplus. Retrenchment through VRS is sure to come. Reliance will not function the branches, where there is no profit. The UPA government has taken the decision and implemented the same in the last phase of the government even without taking the Parliament into confidence, only to hand over the PSU to the private company.
We fully support the struggle of the SBI employees against the anti-worker anti-people agreement. Not only the workers, but the common people should also protest and save the SBI, one of the best PSUs in the country.