01 Tuesday Aug 2017
Posted in General
Tags
One more attack on the savings of the people! State Bank of India has reduced the interest rate of saving bank accounts from 4% to 3.5%, while retaining the 4% rate for those accounts having more than one crore rupee. This is effective from this Monday.
This is an attack against small account holders and at the same time protecting the high, who have got more than one crore rupee in the accounts.
SBI should withdraw this order.
03 Saturday Jun 2017
Posted in General
Tags
Smt. Arundhati Bhattacharya, Chairman of SBI has stated that shares of SBI will be sold this year and the process is being considered. It will be worth$ 2.3 billion, she said.
The merger of Associated Banks with SBI and other actions taken by the government is intended to weaken the SBI and then disinvest.
Will the next in line be Reserve Bank of India?
01 Monday May 2017
Posted in PSU, Uncategorized
After the merger of the Associated Banks and Mahila Bank with SBI, the government is proposing to merge the Nationalised Banks. Two or three PSU Banks are planned to be merged in to one. The Finance Ministry is reported to be in serious discussion in the matter. According to the Ministry, the 21 PSU Banks have to be reduced through merger.
In this connection, the reported statement of Dy. Governor of SBI that the Nationalised Banks should be de-nationalised, hints to the diabolic thinking of the government – Merge the PSUs and privatise!
04 Tuesday Apr 2017
Posted in Neo-liberal policy
After the associated banks have been merged with it, SBI has started VRS for thousands of employees. About 450 temporary/ casual employees of the former State Bank of Travancore has already been retrenched. Afraid of retrenchment, many officials are opting for VRS, which really is CRS (Compulsory Retirement Scheme).
The retrenched employees have demanded fr their reinstatement and some of them have already started agitational programmes.
15 Wednesday Feb 2017
Posted in PSU
Tags
Despite strong opposition from the bank employees and their unions, the Cabinet has reiterated its decision today, 15th February 2017, to merge the following 5 affiliated banks with State Bank of India:
1. State Bank of Travancore
2. State bank of Mysore
3. State bank of Hyderabad
4. State Bank of Patiala
5. State Bank of Bikaner and Jaipur.
The decision of the Cabinet is to be strongly opposed since it is against the interest of the customers, the banks and the employees. This is part of the neo-liberal policy of India and intended to help the private banks. This will result in closure of many branches of the affiliated banks and retrenchment of many employees through VRS or CRS.
Our full support to the struggle of the bank employees against this anti-worker anti-PSU decision.
12 Wednesday Oct 2016
Posted in General
Tags
Shri Vinod Rai, Chief of Banks Board Bureau and former CAG, has stated that two PSU state banks headquartered at Mumbai are proposed to be merged.
This is not a new proposal as such. The government had earlier proposed the merger of all the state banks with the State Bank of India. The trade unions have opposed these mergers on the count that many branches will be closed and retrenchment will take place.
Now the merger of two PSU state banks are going to be merged as per BBB Chied Vinod Rai. These exercises are nothing but to escape from the ‘bad loans'(NPA) and to reduce the power of the SBI and State banks in order to favour the private banks.
03 Wednesday Aug 2016
Posted in Neo-liberal policy, PSU
Tags
It is reported that about 400 branches of SBI has been closed and some more are going to be closed, in the name of reducing expenses and on the plea that there are many branches in the same city itself. It is also stated that this is being done on the basis of the recommendations of a committee.
This decision to close the SBI branches is completely anti-worker, anti-customer and anti-SBI. There is no justification for the same except to reduce the business of SBI and to help the private banks. Instead of taking strong measures to recover the NPAs (bad loans) coming to lakh of crores of rupees from the corporates and big business, closing of the customer friendly branches will not do any good.
It is against such anti-people, neo-liberal policies that the crores of workers are going on a massive strike on 2nd September 2016. Make the strike a big success and a slap on the face of the government!
26 Sunday Jun 2016
Posted in General
The employees of the State Bank of Travancore (SBT) are on agitation against the decision of the Government to merge it with SBI. The government has decided to merge all its affiliated 5 banks with SBI as also the Mahila Bank. This decision is against the best interests of the bank, bank employees and the customers. Instead of discussing with the workers and settling the issues, the bank authorities have issued order prohibiting demonstrations, rallies, meetings and agitational activities near the bank premises. There is no doubt that these restrictions are engineered by the NDA government at the centre.
The working class have to fully understand the present crisis and prepare for might struggles. The 2nd September 2016 Strike called by the central trade unions against such attacks and on major demands of the working class has to be made a great success.
22 Wednesday Jun 2016
Posted in General
It is reported that the State Bank of India (SBI) has got Rs. 310.44 crores from ATM transactions in 2015-16, 47% more than last year. The case with other banks will not be different. The Banks are putting restrictions on the ATM free transactions and charging much higher than required for additional transactions. In view of the high revenue, the banks should give more free transactions to the customers.
15 Wednesday Jun 2016
Posted in Price Rise, PSU
Though the NDA government is taking undue delay in taking decisions on the recommendations of the VII CPC, on the justified demands of the working class and also stopping the high price hike, it is moving fast with destroying the Public Sector Units. The latest is the cabinet decision to merge the 5 associated banks with the SBI, which is strongly opposed by the bank employees and the trade unions. In the name of strengthening the SBI, it is destroying the associated banks which have served the people in a big way. The merger will neither serve the interests of the SBI. Many branches will be closed and employees will be reduced.
The organisations of the Bank employees are on struggle against the fully unjustified decision of the government. Our full support and solidarity to them. We demand the government to retract from the wrong step.
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