Banking
Bankers to strike work on January 8
Around 340,000 bank employees across the country would strike work on January 8 to protest the violation of bilateral settlement by the five associate banks of the State Bank of India (SBI), a top leader of All India Bank Employees' Association (AIBEA) said here.
 
The five associate banks of the SBI are State Bank of Mysore, State Bank of Patiala, State Bank of Hyderabad and State Bank of Bikaner and Jaipur.
 
"Nearly 340,000 bankers would strike work on January 8. The strike is to protest against the violation of bilateral settlement by the five associate banks of SBI and their attempt to force unilateral service conditions on employees," C.H. Venkatachalam, AIBEA general secretary, told IANS here on Monday.
 
According to him, it is the AIBEA that has given the strike call.
 
Explaining the rationale behind the strike call, Venkatachalam said the service conditions in the SBI are different and based on the agreement between the SBI management and the employees' union.
 
On the other hand, the service conditions of the five SBI associate banks are common with those of other banks.
 
"In May 2015, a common settlement was signed between Indian Banks' Association (IBA-management body) and All India Bank Employees' Association (AIBEA) which defined the duties and remuneration of the employees for undertaking various jobs in the banks," Venkatachalam said.
 
He said the five SBI associate banks are parties to the settlement and hence governed by the settlement terms.
 
"But the managements of the five associate banks are implementing the service conditions of the SBI, which is illegal and violation of the settlement," he said.
 
Asked why the strike has been called early in the year, he said the union had deferred the strike call given for December 1 and 2, 2015, on the intervention of deputy chief labour commissioner, Delhi.
 
"The bank management is forcing its rules without any discussion with the unions from the New Year onwards and hence we are forced to respond," Venkatachalam said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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COMMENTS

Subramani P K

11 months ago

The bank employees strike should be banned under the essential services act and necessary action taken for violation if they still go on strike. First & foremost a proper study of the working of all banks should be undertaken mainly the productivity, responsibility, accountability etc of employees and salary & perks fixed accordingly & uniformly for all banks irrespective of whether it is SBI or subsidiaries or nationalised & so on. Just like corporate employees they should be evaluated annually & their increment & promotion decided. Poor performers should be given a fair chance to improve & if they don't dispense with them on VRS. Make the banking system user friendly & affordable.

TIHARwale

11 months ago

There should be no negotiations let indefinite strike continue so that AIBEA gets knocked down.

China fines shipping companies for price fixing
 At least eight international sea freight shipping companies were fined 407 million yuan ($62.86 million) for price fixing, Chinese authorities said on Monday.
 
The companies included Japan's NYK Line and "K" Line and Chile's CSAV, Xinhua cited the National Development and Reform Commission (NDRC) as saying.
 
After more than a year of investigations, authorities found the companies involved had exercised price manipulation for shipping vehicles and engineering machinery on major lines for at least four years, violating anti-monopoly laws.
 
The statement said the companies had reached agreements of "mutual non-aggression" and cooperated to jointly raise prices, adding they frequently communicated on bidding and price inquiries to control prices and divide territory.
 
The practices restrained market competition, boosted shipping costs and harmed the interests of exporters, importers and consumers.
 
The NDRC imposed fines of four to nine percent of the companies' revenues of their related China business in 2014.
 
NYK Line was exempted from penalty as it actively reported the monopoly agreement and provided major evidence, while EUKOR Car Carriers Inc. received the highest fine of 284 million yuan.
 
EUKOR said in an online statement that it has been informed of the investigation's progress and its legal rights and will accept the decision.
 
"We will do everything possible to avoid similar situations going forward," EUKOR CEO and president Craig Jasienski said.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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Need to clean Delhi air to stop irreversible damage to heart
Delhi today is grappling with hazardous air pollution as choking fumes from the burgeoning vehicle population and the smog that engulfed the national capital in past few months have worsen. Vehicles emitting toxic particulate matter (PM) are cited as the main pollutant especially during winter.
 
 
A study conducted by University of Surrey has found that New Delhi suffers from a “toxic blend of geography, growth, poor energy sources and unfavourable weather that boosts its dangerously high levels of air pollution”. Pollution has proven to have inflammatory effects on the heart, causing chronic cardiovascular problems.
 
The capital is infamously cited as the most polluted city in the world, with air pollution causing thousands of excess deaths in a year. Continues exposure to air pollution is known to have caused cardiovascular illness and mortality.
 
Pollution particles that are smaller than 2.5 microns are related to fuel combustion. They are so small in nature that they are almost invisible. Such particles enter the human body and cause irritation to the lungs and blood vessels around the heart. 
 
Delhi has turned into a toxic pollutant punchbowl with myriad ingredients and the government is pulling all strings to bring down the levels with the recent one being the odd-even vehicle concept. 
 
What is all the more spooky are the predictions that the number of road vehicles would increase from 4.7 million in 2010 to nearly 26 million by 2030! While the success of the odd-even formula is uncertain in the mega city with a population of 25.8 million, Delhiites are keeping their fingers crossed, hoping for the best. 
 
It is, hence, important to realise that combination of harmful nitrogen oxides and fine particulate matter can disturb the heart rhythm. There is clinical evidence that clearly indicates the deleterious effects of ambient air pollution on health and its relation to heart disease and stroke.
 
Environmental air pollutants includes carbon monoxide, oxides of nitrogen, sulfur dioxide, ozone, lead and particulate matter and these are associated with increased hospitalisation and mortality due to cardiovascular disease, especially in people with congestive heart failure, frequent arrhythmias or both.
 
Motor vehicles are the main source of carbon monoxide - a odourless, colourless and tasteless gas that binds to hemoglobin with an affinity 250 times that of oxygen, thereby interfering with the systemic delivery of oxygen to tissues. Carbon monoxide can attain concentrations sufficient to physiologically meaningful increases in carboxyhemoglobin in people with cardiac conditions.
 
Studies show that cities with high nitrogen oxide concentrations had death rates four times higher than those with low nitrogen oxide concentrations. Harmful air pollutants can cause cardiovascular diseases such as artery blockages leading to heart attacks. 
 
A world heath organisation (WHO) study points out that 6.2 lakh people in India died due to air pollution related diseases in 2010. More than half the deaths were triggered by heart attacks!
 
Urban air pollution is directly linked to heart disease. The policymakers need to be educated on the types, sources and effects of the different kinds of particulate matters causing air pollution so that the emissions can be regulated before the irreversible damage to the heart.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article. 

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