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Does The End Justify The Means?
Thank God, the proposed two-day strike by over a million
employees of public sector banks at an estimated 50,000 branches
of nationalised banks across the country has been withdrawn, or
at least deferred for the time being. In addition to cash
transactions, the treasury and foreign exchange operations could
have been badly hit.
They want early settlement of wage revision, and another pension
option for those who had earlier opted for provident fund.
Besides, they are pressing for restoration of appointments on
compassionate grounds. The employees are also protesting the
proposed merger of State Bank of India (SBI), India's largest
commercial bank, with its associates and the large-scale entry
of foreign banks in the country.
There was no banking operation on February
24, Sunday and therefore the public would have been denied
banking transactions for three days at a stretch. The Unions had
also threatened ‘indefinite’ strike from March 24, if their
demands are not met by then.
The working class has no doubt earned the
privilege to strike as an industrial weapon. However, does the
relevant industrial legislation recognize it as a ‘right’? In an
industrial economy, is there no other means available for wage
bargaining?
When banking comes to a grinding halt, the
very economy is paralyzed. Industrial and business activities
are affected. The common man’s hardship knows no bounds. Again,
thank God, our informed and responsible labour unions have
decided to defer resorting to this extreme step which would
have, thrown all norms of public accountability and value ethics
to the winds. Last month’s strike had resulted in huge loss
apart from long-term economic setbacks.
We can only hope that better sense will
prevail on both sides and they would find a solution across the
table, rather than to bring sufferings to all sections of
society.
H Ramakrishnan
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