IDBI Bank staff mulls strike against move to dilute govt stake

By: | Updated: October 10, 2015 12:43 AM

Staff and officers of IDBI Bank are contemplating one-day nationwide strike to oppose the government's proposed move to dilute its stake in the lender.

idbi bankStaff and officers of IDBI Bank are contemplating one-day nationwide strike to oppose the government’s proposed move to dilute its stake in the lender.

Staff and officers of IDBI Bank are contemplating one-day nationwide strike to oppose the government’s proposed move to dilute its stake in the lender.

Although the date for the strike has not been announced by the United Forum of IDBI Officers and Employees, its leaders said the ‘nationwide’ strike is likely to take place during the winter session of Parliament, which traditionally begins in November.

The forum has chalked out various programmes of agitation after finance minister Arun Jaitley, in an interview with a news channel in September, said the government was considering whether to give more operational freedom to state-run banks and that IDBI Bank was a possible test case to follow the “Axis Bank model”.

At the end of September quarter, the government held 76.50% stake in IDBI Bank.

“The officers and employees have held meetings and expressed their total opposition to the arbitrary and subjective move of the government of India,” forum’s general secretary RS Athalye said in a statement.

According to Athalye, senior leaders of the All India Bank Officers Association (AIBOA) and All India Bank Employees Association (AIBEA) have held joint meetings under the forum’s banner to chalk out further course of actions to oppose the government’s move.

Officers and employees of IDBI Bans will soon write letters to the finance minister, urging him not to act on his statement.

When contacted, RK Bansal, executive director, IDBI Bank, told FE that the bank management has not yet received any communication from the government regarding the proposed dilution in stake.

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