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IDBI Bank employees on strike

Staff members of IDBI Bank are on a day’s strike across the country. They are opposing the government’s move to bring down the government stake in the bank and probably privatize it. Earlier talks between the employee unions and the management have failed and hence the decision to go on a day’s strike. It is estimated that some 33,000 direct and indirect employees working in the bank may participate in the strike. The bank has over 1700 branches across the country. The strike call has been given by the United Forum of IDBI Officers and Employees and the All India Federation of IDBI Bank Employees. The government had earlier suggested that IDBI Bank is an ideal candidate for a transformation on the lines of the erstwhile UTI Bank, which was privatized and named Axis Bank. The government has 76.50% stake in the bank.

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