SBI Employees Strike- Why it needs to be called off
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SBI strike is hurting businesses in all parts of the country. The State Bank of India has the largest reach among all banks in the country, with branches in most small towns and villages. The continuing strike will only add to the hardships of its million plus customers.
The strike has affected the business transaction of the bank in foreign exchange and money market. Since most of the clearing business is with SBI, the srike has also impacted inter-bank transactions as well.
State Bank of India, India's Largest Bank, employs more 200,000 staff across the country, who are on indefinite strike seeking revision of a pension limit of Rs 4,250 ($95) a month, which was last set in 1992.
SBI handles an average of 10 million transactions a day, including ATM withdrawals of about Rs 1.5 billion. SBI handles 19% of total deposits mobilized and 30% of customers in the domestic banking industry, through its 9,000 branches.
Apart from regular customers, numerous salaried people & Pensioners with SBI have not got their salary for the month of March.
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