SBI strike called off

New Delhi, Apr 9 (UNI) The week-long strike over revision of pension by staff and Officer's Federations of the State Bank of India was called off tonight following successful day-long talks on the pension issue with the Government.

''The pension matter is settled. We have decided to call off the strike,'' All India State Bank of India Staff Federation Vice-President V K Gupta said.

''Management has informed the Government that they have reached an agreement with the officers and employee unions,'' Finance Minister P Chidambaram said, expressing happiness that the settlement had been reached and that the employees would return to work tomorrow morning.

The Minister said the cut off point for calculating the pension had been re-adjusted to the new salary scales as compared to the 1992 scales. Employees receiving pay and allowances upto Rs 21,040 will receive 50 per cent as pension and those more than this amount 40 per cent as pension, he said.

Meanwhile, All India Confederation of Bank Officers will meet in Mumbai on April 10 to discuss the breakdown of talks between the SBI unions and the management over their demand for pension. The union sources said representatives of various unions of officers of the state-owned bank will discuss the further course of action to be taken on the issue.

UNI