IDBI union begins nationwide protest against IDBI-LIC deal

IDBI union begins nationwide protest against IDBI-LIC deal

Agency News

New Delhi, Aug 9: The two-day nationwide protest by the All India IDBI Officers’ Association (AIIDBIOA), in protest against government nod for acquisition of IDBI by LIC, began on Thursday.

As part of the strike, the union is staging dharna (sit-in) at state capital headquarters across the country on August 9 to be followed by Mass Dharna (Hunger strike) on August 10 at Jantar Mantar in the National capital, an AIIDBIOA release said.

The statement said, as the government arbitrary and ulterior motive to privatise the Bank has created furor and unrest amongst all the staff of the Bank, the union has decided to protest vehemently against the Government of India move and as part of its agitation programme a two-day nationwide strike call has been given on August 09 and 10.

Staff of IDBI Bank are deeply concerned over the Government of India 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 per cent, effectually leading to privatisation of IDBI Bank, it said.