BANK BANDH

Joining the nationwide strike, all banks, including their ATMs in the state, remained closed today. All India Bank Employees Association (AIBEA), All India Bank Officers Association (AIBOA) and Bank Employees’ Federation of India (BEFI) had called for the strike to oppose the government’s move to introduce changes in banking laws and amendment to the Banking Regulation Act.
Seven lakh employees from various banks of the nation went on strike today after a conciliatory meeting of the Indian Banks' Association with the chief labour commissioner failed to arrive at a solution.
The unions are protesting against the amendments to the Banking Regulation Act, 1949, which are aimed at handing over Indian private sector banking to multinational banks and increasing presence of Indian corporate and foreign direct investment in public sector banks. They are contesting that the amendment to the banking laws will dilute the interest of public sector banks.

All banks, other than the State bank of India, will remain closed to transactions. The unions of SBI staff, including the National Confederation of Bank Employees and SBI Officers Association, are not joining the strike.

Banks refuse to issue coins to public, RBI seeks explanation

GANGTOK, 18 Sept: The secretary general of Sikkim Chamber of Commerce filed a written complaint with the Reserve Bank of India on 14 September against some banks allegedly refusing to issue coins over the counter to the public on demand.
A press release issued by the secretary general, SCC, Kailash Agarwal informs that the Central Bank of India and State Bank of India have been asked to serve an explanation regarding the same by the RBI. The banks have also been asked to provide the position of coin stock at the close of business on 13 September 2012.
As per circular no. DCM (CC) No. G-5/03.39.01/2010-11 dated July 01, 2010 of the Reserve Bank of India (RBI) all banks having currency chest are duty bound to issue of coins over the counter to any member of public on demand, the release adds.

Nationalized banks to go on two-day strike starting Wednesday

ANUSHA GURUNG
GANGTOK, 21 Aug: All India Bank Officers Confederation [AIBOC] has called an all India strike for the next two days i.e. on 22 and 23 August. All the nationalized banks [except for the private banks] of the country will be joining the strike.
The Sikkim Regional Secretary for State Bank of India Officers Association [SBIOA], Gangtok, Tshering Dhonden Bhutia informed that the main reason for the strike is the fulfilment of demands pending with the Indian Banks Association [IBA].
The demands are to stop arbitrary guidelines on HR issues, to stop unilateral implementation of Khandelwal Committee recommendations, to stop outsourcing of bank jobs, to stop banking sector reforms, to stop closure or rural branches, proper regulation of working banks, pension schemes, new upcoming recruitment chronicle and also for the revision of pension, informed Mr Bhutia.
Mr Bhutia added that a meeting on the matter is scheduled to be held this evening and if they get a positive response then the strike shall be deferred. “Since we have not got positive response from the Government and IBA, we are forced to go on strike”, he said.
The Indian Bank Association had assured that they would organise a meeting on 31 July and give a positive response, which did not happen, Mr Bhutia added.
ATMs will also be shut during the all India strike, it was informed.

Banks come to assistance of earthquake affected with soft loan option

MORATORIUM OF 1 YEAR FOR THOSE UNABLE TO PAY EMI
GANGTOK, 04 Nov: The state government has taken the initiative to approach banks in the state to assist those people affected by the earthquake especially those who have taken house loans etc. Today the Chief Secretary, Karma Gyatso along with Additional Chief Secretary, R Ongmu, held a special meeting with all banks in the state, 26 in all including the Reserve Bank of India (RBI).