Union calls off strike, wage issues being discussed: IDBI Bank

Public sector IDBI Bank said a section of employees who were to go on a one-day nationwide strike today have called it off.
"It is advised that proposed one-day nationwide strike on April 12, 2017 by united forum of IDBI officers and employees in support of their demands has been called off," IDBI Bank said in a BSE filing.
Yesterday, the bank had informed about a day's strike on April 12, 2017 to press their demand related with wage issues.
The association had also written a letter to Finance Minister Arun Jaitley, seeking his intervention in the matter.
"Yesterday there was a conciliation meeting in Mumbai held by the deputy chief labour commissioner and the management has been advised to finalise the wage revision settlement before May 8," All India Bank Employees' Association general secretary C H Venkatachalam said in a statement.

In view of this, the strike to be observed today has been deferred and Union has decided to attend bilateral talks to explore the possibility of settlement, he said.
The bank's stock was trading 0.99 per cent lower at Rs 75.30 apiece on BSE today.