The All-India IDBI Officers Association has called for a nation-wide strike from tomorrow (Thursday) and a hunger dharna on Friday in Delhi to protest the move to sell a stake in IDBI Bank to the LIC.
“We note with extreme concern...the move to sell a significant (stake) to Life Insurance Corporation of India whereby the shareholding of the Government of India in the bank will fall below 51 per cent.
“We strongly oppose (the) move (which goes) against the solemn assurance given on the floor of Parliament that (the Centre) shall at all times maintain its stake above 51 per cent...” the association said.
The association is trying to convince members to stay calm on the belief that the Centre will reconsider its move in the interest of workforce of the bank and their dependent family.
The staff fear that the proposed stake sale would in turn change the service conditions as it would be categorised as “private sector bank”.
Moreover, the fate of employees who have been selected on the basis of their merit through an all-India-level examinations conducted by the IBPS would become uncertain.
Thousands who have joined after leaving jobs with other public sector banks/government organisations feel cheated with the stake sale move, the association said.
Also, this would be unfair to certain classes of employees (again, in thousands) who have been recruited in reserved category whose prospects would become uncertain.
There would not be any regulatory obligation on the part of the bank for selection and promotion of reserved category candidates to ensure their minimum representation at desired levels.
It is unfair that the employees of the bank are made to suffer due to wrong decisions taken at the top level, which is in turn responsible for the high-level of non-performing assets.
The Centre is trying to set right situation by resorting to the drastic step of stake sale, which has put at stake the jobs and entire livelihood of thousands of employees, the association said.