StanChart Bank staff observe one-day strike

Our Banking Bureau

Mumbai, Aug 10: Employees of Standard Chartered Bank (StanChart) on Friday observed a one-day strike to protest the alleged vindictive action of the bank management.

Said the Maharashtra State Bank Employees Federation secretary LK Nagda in a statement: "The bank management resorted to arbitrary mass transfers and suspensions because the staff members did not opt for the early separation scheme (ESS)".

The management of the bank had transferred two employees to Pune from Mumbai against all established norms, when the staff members rejected the ESS, he added. Meanwhile, a bank spokesperson said the strike had "mild effect" on the normal functioning of the bank.