News headlines

Daijiworld News Network - Mangalore (GA)

Mangalore, Apr 8: As the indefinite strike called by SBI employees has entered Day 6, the Kanara Chamber of Commerce and Industry has submitted an appeal to union finance minister to resolve/arrest immediately the economic terrorism of State Bank of India employees.

This was announced in a press release here on Friday Apr 7.

KCCI stated that the indefinite strike by SBI employees has crippled the business activity especially of the Small Scale Industries. This is more because of the restriction imposed on opening and operating multiple current accounts by borrowers.  So many of the Small Scale units are unable to make remittances for procuring raw materials, pay salaries to their employees and meet their working capital needs.  The borrowers are paying exorbitant interest and other charges to the bank.

KCCI further stated that, the bank being a service organization, cannot be allowed to hold the public at ransom for no faults of theirs.  The SBI employees are well paid and contribute very little to the society, hence, should not be allowed to indulge in economic terrorism, said the press release.

KCCI has made a special request to the finance minister and the management of SBI that during the days of strike, no interest be levied and all loses incurred by the Small Scale Industries be made good against future interest payable by the borrowers.


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