Volume 7, No. 5, May-June, 2006

 

SBI Uncompromising Strike for Pensions

 

On April 3 two-and-a-half lakh employees of the State Bank of India began an indefinite strike for a just pension. The strike was total with even the officers joining in. the unions have said that the pension ceiling has been kept unchanged at Rs.4,250 per month based on the salary structure of the 1992 revision. Though the salary was revised in 1997 and 2002, the pension ceiling had not been hiked. They demanded that there be a hike in pensions on par with other organisations where they pay pension amounting to 50% of the last salary. Given the pension law the government is in no mood to give into the demands of the bank employees.

For 14 years the Finance Ministry, dictated by it’s IMF masters, has been opposing any hike in the pensions of the SBI employees. In fact even as far back as in 1983-84 the retired staff of the SBI had to approach the Supreme Court to claim 50% of their last salary. This was again repeated in 1987. subsequently when another industry level (Fifth Bipartite) came into force, negotiations within the SBI for upward revision in pensions were held but recommendations put up by the management were not considered by the Finance Ministry. A repeat action was performed by the Finance Ministry in 1997 and the pension lay static at Rs.4,250 for nine years. Meanwhile the ceiling in the banking industry was raised 3-4 times commensurate with the periodical upward revision in wages of bank employees.

On this occasion, in the light if the new pension bill, to reduce the pensions, the FM was even more adamant not to buckle under employee’s pressure. But it was the uncompromising battle of a totally united staff that forced the FM and government to accept all their demands after a lengthy 7-day strike which paralysed a large section of banking and finance of the country (the SBI is the largest bank in the country). What is ironic is that at the beginning of the strike not one of the parties and their unions, even the treacherous CPI/CPM, supported the strike. It was only in the face of the militancy of the employees that after about three days into the strike the AITUC/CITU gave lip support to it and the demands of the employees.

 

<Top>

 

Home  |  Current Issue  |  Archives  |  Revolutionary Publications  |  Links  |  Subscription