Hyderabad: The two-day nationwide protest by the All India IDBI Officers Association (AIIDBIOA) in protest against government’s nod for acquisition of IDBI by LIC began on Thursday. Over 200 staff of IDBI staged a protest at main branch Abids.

Mr Vinod Kumar, a staffer said, “The GoI move to sell a significant portion of its stake in IDBI Bank Ltd, to Life Insurance Corporation of India where by the shareholding of the Government of India in IDBI Bank will fall below 51 per cent. We strongly oppose any such move taken, against the solemn assurance given by the then-BJP Government on the Floor of Parliament that the Government of India shall all times maintain its stake above 51 per cent in IDBI Bank.”

Staff members of IDBI Bank across the country are in unrest over government’s decision to reduce it’s stake below 51 per cent.
“If this is allowed to happen, the service conditions of the employees of the IDBI Bank would be changed, as it would be categorised as “Private Sector Bank”, after this proposed stake sale. Moreover, the fate of employees would become uncertain, who have been selected on the basis of their merit through All India Level Examinations conducted by the IBPS.

“Thousands of employee have joined this bank after leaving other Public Sector Banks/Govt. Organisations etc and they all are feeling embittered with this move of the government. Also, it would be unfair to the certain classes of employees (in thousands), who have been recruited in reserved category- SC/ST/OBC/PWD – as their future growth and career will be uncertain.”

Strongly opposing the move of the government, AIIDIBOA has decided to observe two days nationwide, that counts August 10.

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