• search

SBI strike results in UP govt financial crises

Written by: Staff
|

Lucknow, Apr 7 (UNI) Even as the nationwide SBI strike entered its fifth day, the Uttar Pradesh government is yet tackle consequent problems, resulting in non-payment of salaries to employees and clearance of other financial obligations for the financial year ending.

In a stop gap arrangement, the Reserve Bank of India (RBI) has authorised Allahabad Bank to make payments for all government bills in the strike period.

The UP government conducts a business of over Rs 5,000 crore daily through SBI, while in total, the bank transacts a business of around Rs 20,000 crore daily in the state.

State principal secretary (finance) Shekhar Agarwal said here all possible steps had been taken to control the situation following the strike.

''Salary distribution through Allahabad Bank has started in several districts today, but it will take some time to control the situation,'' he added.

According to the UP treasury department officials, most employees were yet to receive salaries and hoped the situation eases by tomorrow.

However, it was a lapse on part of the state government as it did not take any action and make alternative arrangements last week after the SBI informed of the strike.

In a communique to all DMs on Wednesday, Mr Agarwal said the RBI regional office at Kanpur had authorised Allahabad Bank in financial matters related to UP. The old order, however, would be restored the moment the SBI strike is over.

Meanwhile, UP SBI employees union president K K Singh told UNI here today the strike will continue till their demand of pension was sorted out by the government.

Expressing sympathy for the state government employees who are yet to receive salaries due to strike, Singh said SBI employees have waited for 14 yrs for the pension and now they would not stop till the demand was met.

Today, the SBI employees will take out a procession here in support of their strike.

Altogether, 22,000 employees and officers of the SBI of 833 UP branches are on strike since Monday.

UNI MB VS VD ND1342

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more