IDBI Bank unions call for 4-day strike from March 28

IDBI Bank employees have decided to go on a four-day nation-wide strike from March 28 to oppose the government's move to dilute its stake in the troubled state-run lender.

PTI| Last Updated: Mar 11, 2016, 23:57 PM IST
IDBI Bank unions call for 4-day strike from March 28

Mumbai: IDBI Bank employees have decided to go on a four-day nation-wide strike from March 28 to oppose the government's move to dilute its stake in the troubled state-run lender.

Employees and officers of the lender under the banner of United Platform of IDBI Bank Unions have given the strike call.

"We are against the privatisation plan. If the government wants to divest their stake they can do it but the bank should remain a public sector bank," United Platform of IDBI Bank Unions said in a statement here today, while claiming that the Platform has support of over 12,000 employees of the bank.

"We want a written assurance from the Government that their shareholding in IDBI Bank will not be less than 51 percent at all times as assured on the floor of Parliament," it said.

The Government owns around 80 percent stake in the lender.

In the Budget, Finance Minister Arun Jaitley had said the Government was open to bring down its stake in IDBI Bank to below 50 percent.

"The process of transformation of IDBI Bank has already started. The Government will take it forward and also consider the option of reducing its stake to below 50 percent," Jaitley said in the February 29 Budget speech.

The employees are also demanding immediate implementation of wage settlement which is pending since November 2012.