Take urgent steps to end SBI strike, MCC urges Chidambaram

Kozhikode, Apr 4 (UNI) The Malabar Chamber of Commerce (MCC) today urged Union Finance Minister P Chidambaram to take immediate conciliatory measures to end the ongoing strike by the employees of the State Bank of India.

Stating that the trade and industry throughout the country was hit hard by the strike, the MCC in a memorandum to the Minister said the financial transactions throughout the country had come to a standstill as a result of the strike in the SBI, which mainly controlled clearance operations.

Cheques and bills worth billions of rupees were pending clearance in the clearing houses run by the centralised bank paralysing the entire financial sector, the chamber said.

Treasury and foreign exchange transactions was also badly hit following the strike, which began on the start of the new financial year, the chamber said adding the situation would be become worse unless the government took early remedial measures to resolve the crisis.

The SBI employees are demanding revised pension scheme, among other things.

UNI PCH ROY 1918