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Sun, Nov 18, 2018 | Last Updated 5:55 pm IST

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IDBI Bank staffs across the country in unrest over government decision

IDBI Bank staffs across the country in unrest over government decision
IDBI Bank staffs across the country in unrest over government decision
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Hyderabad sources reported that the two day nationwide protest by the All India IDBI Officers Association (AIIDBIOA) in protest against government’s nod for acquisition of IDBI by LIC began on Thursday. Meanwhile over 200 staff of IDBI staged a protest at main branch Abids.

Furthermore Mr. Vinod Kumar, a staffer said, “The GoI move to sell a significant portion of its stake in IDBI Bank Ltd, to Life Insurance Corporation of India where by the shareholding of the Government of India in IDBI Bank will fall below 51% and they strongly oppose any such move taken, against the solemn assurance given by the then BJP Government on the Floor of Parliament that the Government of India shall all times maintain its stake above 51% in IDBI Bank.”

IDBI Bank staffs across the country in unrest over government decision

Moreover the staff members of IDBI Bank across the country are in unrest over government’s decision to reduce its stake below 51% and “If this is allowed to happen, the service conditions of the employees of the IDBI Bank would be changed, as it would be categorized as “Private Sector Bank”, after this proposed stake sale. Further thousands of employee have joined this bank after leaving other Public Sector Banks/Govt. Organizations etc and they all are feeling embittered with this move of the government.  They are strongly opposing the move of the government, AIIDIBOA has decided to observe two days nationwide, that counts August 10. 

IDBI Bank staffs across the country in unrest over government decision

IDBI Bank staffs across the country in unrest over government decision
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