Outsourcing Times: Banks "strike" out at outsourcing!

July 29, 2006

Banks "strike" out at outsourcing!

In an older post titled Outsourcing opposed by RBI employees in India, I had mentioned the strong reaction by RBI employees against outsourcing. This fire of opposition is now spreading across almost all public sector banks in India.

On July 28, all public sector banks—with the exception of the State Bank of India—went on a flash strike, drawing banking services to a screeching halt across the country. But the buck didn't stop there. The country's politicians painted an even more sinister picture of outsourcing.

Take the statement of the Communist Party of India, which looks at outsourcing as a threat to the political stability of the country. In the midst of this opposition, the government attempted to diffuse the situation with a statement that outsourcing in the RBI was only limited to "non-core activities.”

However, as The Hindu reports, the left parties refused to bite on this statement. While the political tussle goes on, we wait and watch which way outsourcing is going to go in the Indian banking sector.

--
Did you enjoy this post?

July 29, 2006 in India | Permalink