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Business hit by SBI stir

Financial transactions in Greater Bombay were affected substantially on Thursday as State Bank of India officials in local head offices, regional offices and 130 branches in the city and suburbs joined the ongoing SBI officers strike on its second day.

On Wednesday, over 700 SBI officials went on a flash strike following the suspension of three top SBI officers for alleged 'procedural lapses' which resulted in the bank's losing over Rs 580 million in the multi-billion rupee CRB scam.

Chief Manager R L Walker and Deputy Managers V N Patil and M M Narang were served suspension notices late on Tuesday night.

The strike, called by the SBI Officers Federation in south Bombay's Fort area branches, has now extended to Greater Bombay involving 4,000 officers. SBI General Secretary R D Shendurkar said it has extended up to Dahisar in the western suburbs and Mulund in the central suburbs.

The bank did not participate in clearing process nor the interbank money market or foreign exchange market, resulting in an approximate 30 per cent drop in commercial business volumes.

A senior SBI official said the suspensions have had a demoralising affect on the entire officer fraternity.

The SBI central office and headquarters wore a deserted look as many employees also expressed solidarity with the officers and joined the day-long demonstration and meeting outside their offices.

Shendurkar said the strike received active and overwhelming response from all levels of officers. It will continue in all Greater Bombay branches for the next two days. From Monday, it will be extended to the entire Maharashtra and Goa regions unless the suspension orders are revoked, he warned.

UNI