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(From Business Line)
from BUSINESS LINE, April 10, 2006 New Delhi, April 9 - The seven-day strike by employees of SBI has been called off
After hectic day-long negotiations on Sunday between the management and the unions in the presence of top Finance Ministry officials, a new formula on the contentious pension issue was agreed upon by all the sides
Under this, the fresh 'cut-off' of basic pay for determining pension has been increased to Rs 21,040 from Rs 8,500
Speaking to newspersons, the Finance Minister, Mr P. Chidambaram, said that all employees earning a basic pay of Rs 21,040 would get pension at 50 per cent of that amount, while …