“The shareholding of the Government of India in IDBI Bank will fall below 51 %, effectually leading to privatization of IDBI Bank”.
THE HUSH POST: The All-India IDBI Officers’ Association went on a 2-day nationwide strike on Thursday against the move to sell a stake in the IDBI Bank to the Life Insurance Corporation (LIC) of India and wage related issues, among others. The Association would also stage a mass hunger dharna at Jantar Mantar on Friday in Delhi.
Saurabh Shandilya, National Secretary of the All-India IDBI Officers’ Association said, “We are concerned over the Government of India’s move to sell a significant portion of its stake in the IDBI Bank Ltd. to the Life Insurance Corporation (LIC) of India whereby the shareholding of the Government of India in IDBI Bank will fall below 51 %, effectually leading to privatization of IDBI Bank”.
The IDBI staff fears that the proposed acquisition would hamper their prospects stating that “thousands employees had joined IDBI after leaving jobs with other public sector banks/government organizations and they now feel cheated with the government’s move”.
Blaming the decisions taken by the ‘top level’ for the ‘suffering of the employees’, the Association said that the “Centre is trying to set right situation by resorting to the drastic step of stake sale, which has put at stake the jobs and entire livelihood of thousands of employees.”