IDBI Bank Employees Union Calls Hunger Strike: Bank employees have sounded the bugle of a strike against the proposed privatization of IDBI Bank and the move to sell the bank to Canada’s Fairfax Company. The All India IDBI Officers’ Association and the Employees’ Union have jointly issued an official notice for a two-day hunger strike in all branches across the country on November 2 and 3. According to the association, banking operations are expected to be completely suspended in branches and offices across the country during these two days. The union has appealed to the citizens, depositors and other trade unions of the country to support this movement.

Demand to fulfill the promise made in Parliament

Bank unions and employee organizations are demanding that the government immediately reverse the decision to privatize the bank. As promised in Parliament in the year 2003, government participation should be maintained at 51% by buying additional 6% share from the market by the government or LIC. Employees fear that if privatization takes place, their job security, pensions, reserve policies and future salary increases will be at risk.

Also called for permanentizing outsourced employees

The employee organizations have also proposed that all existing employees should be given an option to get transferred to other government banks if the government is adamant about selling the bank. Apart from this, there has also been a strong demand for permanentization of all the outsourced and contract employees who have been serving the bank for years. IDBI Bank has contributed immensely to the country’s farmers, small businesses and bringing government schemes door-to-door, so its privatization would prove to be against public interest.

Warning of indefinite strike

The association has made it clear that it is always ready to hold peaceful talks with the government and bank management. However, if their reasonable demands are not given due attention, there is also a threat of intensifying the agitation after the hunger strike of 2 and 3 November and going for a nationwide indefinite strike.