IDBI Bank unions against privatisation, call strike from March 28

IDBI Bank employees' unions have called a four-day countrywide strike from March 28 to oppose the government's move to dilute its stake in the bank announced by Finance Minister Arun Jaitley while presenting budget 2016-17 last month.

Employees and officers belonging to the All India Bank Employees Association (AIBEA) and All India Bank Officers Association (AIBOA), have given the strike call under the banner of the United Platform of IDBI Bank Unions.

"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," said the platform which claims 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.

Jaitley had said the government, which owns around 80 percent stake, proposes reduction of its equity in IDBI Bank to below 50 percent.

"The process of transformation of IDBI Bank has already started. Government will take it forward and also consider the option of reducing its stake to below 50 percent," Jaitley told parliament.

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

If the strike materialises, IDBI customers face the prospect of being without the bank services for eight straight days till the end of the month on account of the four successive bank holdidays coming up from Thursday.

--Indo-Asian News service

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