IDBI Bank sale: Employees to go on nationwide 2-day hunger strike on November 2, 3
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The United Forum of IDBI Officers and Employees will hold a two-day nationwide hunger strike on November 2 and 3.
- ✓They oppose the proposed sale of IDBI Bank to Canada Inc.
- ✓Leaders said, "We remain hopeful that the bank management and the Centre will intervene constructively to resolve the dispute."
Story at a Glance
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- MARKET
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- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
The United Forum of IDBI Officers and Employees threatened to intensify agitation programmes with prolonged action, including indefinite strike without further notice, if demands are not met
The United Forum of IDBI Officers and Employees comprising All India IDBI Officers' Association and All India Industrial Development Bank Employees' Association have called for a two-day nationwide hunger strike on November 2 and 3 (Monday and Tuesday) to proposed sale of IDBI Bank to M/s 10955230 Canada Inc., (parent entity of Fairfax Financial Holdings).
The notice of strike signed by Devidas Tuljapurkar, Convenor, Vithal Koteswara Rao and Rathnakar Wankhade, Joint Convenors, of the United Front demanded the Centre buy a minimum 6 per cent shareholding of the bank either from LIC of India or from the share market to maintain minimum 51 per cent shareholding to honour assurances made in both floors of Parliament in December, 2003.
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