SBI forex department staff plan stir

The State Bank of India (SBI) Staff Association (Bengal Circle) and the State Bank of India's officer' Association (West Bengal) warned that they might go in for joint agitation action against any violation of the tripartite agreement on integration of treasury operation that was signed between All India State Bank of India Staff Federation, All India State Bank of India's officer' Federation and the SBI management in January 2000.

In July 2005, SBI decided to implement 'Mercury Fx', the internet based forex reporting system in three branches in Mumbai and overseas branch in New Delhi.

By using this technology, any branch official will be able to connect dealers from Treasury on-line, provide details of transaction, negotiate rate and provide report.

Such a system would eventually make Calcutta FD redundant in the forex rate negotiation and report finalising activities.

In protest, the the two staff association bodies have asked the chief general manager of SBI at Kolkata to stop this, but their request had been ignored, said an association official.

"As the management is maintaining a stoic silence on our repeated request for arranging a meeting on the issue, we have no option but go in for other course of action," the bodies said a memorandum to the CGM, Kolkata.

According to the agreement, it was decided that the forex business of the bank within the country would be handled equally between the dealing room at the foreign department (FD), Calcutta and Treasury department, Mumbai.

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source: business-standard.com

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