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FIEO seeks Govt intervention to resolve SBI strike

By Staff
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New Delhi, Apr 6 (UNI) The indefinite strike by employees of the State Bank of India (SBI) over a better pension deal, is becoming detrimental to the economy and is partially crippling exports as it enters into its fourth day, a government official said today.

''The Export of commodities, subject to cess have been held up as in most places, the cess is to be deposited with the State Bank and LCs to be negotiated with SBI are lying unattended,'' said FIEO President O P Garg.

''The strike has affected business transactions of the bank in foreign exchange and money market. Since most of the clearing business is with SBI, the strike has impacted inter bank transactions also, FIEO Director General Ajay Sahai added.

Mr Garg urged the government to resolve the issue before it has an adverse effect on exports becoming more visible and assuming alarming proportion.

UNI RA SR PC1527

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