BUSINESSEconomic Times Industry · 16 hours agoLive
"Nothing to fear": Top bureaucrat says IDBI staff, pensioners' service conditions won't change after Fairfax deal
Reported by Economic Times Industry, not nibnow. We are not the publisher of this story, only the source is.
WHY IT MATTERS
Employees and pensioners of IDBI Bank are worried that the planned sale to Fairfax could alter their job security and benefits, which could also affect the bank’s operations for customers.
WHAT HAPPENED
The DIPAM secretary's assurance comes as IDBI Bank employees oppose the government’s divestment plan and have called for a strike across the lender’s branches in early November. The United Forum of Bank Unions has also extended support to the proposed strike.
WHAT TO WATCH
- •Potential strike by IDBI staff scheduled for early November
- •Responses from the government or Fairfax to the strike threat
- •Any updates on the terms of the divestment deal
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