IDBI Bank staff to strike over privatisation plan
In short
IDBI Bank employees are planning a strike on November 2 and 3. BusinessLine said more than 10,000 staff across more than 2,000 branches may join the protest.
They want the privatisation plan stopped and the Fairfax sale scrapped. It is not yet known whether the bank or the government will change course.
What the reporting says
IDBI Bank employees are set to go on strike against privatisation, with the reported protest scheduled for November 2 and 3. BusinessLine said more than 10,000 staff across over 2,000 branches are expected to take part, and they are demanding the scrapping of the Fairfax sale. The immediate disruption to branch operations is possible, but the reporting does not say whether the sale plan will change.
Why it matters
IDBI Bank employees are planning an agitation on November 2 and 3 over the bank’s privatisation plan and the reported Fairfax sale. BusinessLine said more than 10,000 staff across over 2,000 branches may participate. The likely effect is disruption at branches, but the reporting does not state whether talks are under way or whether the sale will be reviewed.