United Forum of IDBI Officers and Employees has called for a one-day nationwide hunger strike on Monday (July 27) to protest against the proposed privatisation of IDBI Bank. As per reports, Govt may sell its stake in IDBI Bank by August-end.
If the proposed strategic sale materialises, IDBI Bank would become the first public sector bank to be transferred to foreign ownership. Already, Laxmi Vilas Bank has been taken over by DBS, Catholic Syrian Bank by Fairfax, RBL Bank by Emirates NBD, and YES Bank is in the process of being taken over by the SMBC group.
The forum has appealed to all political parties, representatives in Parliament, the Leader of the Opposition, central trade Unions, constituents of the banking fraternity, economists, academicians, and concerned citizens to intervene and urge the Centre to reconsider the proposed privatisation in the larger national interest.
Click here to read what IDBI Bank said on privatisation
