IDBI Bank employees have started a nationwide two-day strike from November 2, protesting against the proposed privatisation of the bank and the sale of a majority stake to Canada-based Fairfax Financial Holdings.
Under the proposed deal, the Government and LIC plan to sell their combined 60.72% stake in IDBI Bank for approximately ₹52,878 crore.
Employee unions have raised concerns over the bank's valuation, arguing that IDBI Bank's actual worth could be higher considering its assets, properties, financial recovery and future growth potential.
They have also expressed concerns over job security and the impact of privatisation on employees. The unions are demanding the cancellation of the privatisation process and greater transparency in the valuation.
Meanwhile, the proposed deal is still awaiting regulatory clearance from the RBI.
IDBI Bank ke employees ne 2 November se nationwide 2-day strike start kar di hai. Employees proposed privatisation aur Canada-based Fairfax Financial Holdings ko majority stake sell karne ke decision ka virodh kar rahe hain.
Is proposed deal ke under Government aur LIC apni combined 60.72% stake IDBI Bank mein approximately ₹52,878 crore mein sell karenge.
Employee unions ne bank ki valuation par questions raise kiye hain. Unka kehna hai ki IDBI Bank ke assets, properties, financial recovery aur future growth potential ko dekhte hue bank ki actual value isse zyada ho sakti hai.
Employees ko privatisation ke baad job security aur working conditions ko lekar bhi concerns hain. Unions deal cancel karne aur valuation process mein transparency ki demand kar rahe hain.
Meanwhile, proposed deal ko complete karne ke liye RBI ki regulatory clearance abhi pending hai.