IDBI Bank staff strike over government sale to Fairfax Financial
Business
IDBI Bank is seeing major disruption as more than 10,000 employees have started a two-day strike.
They're protesting the government's move to sell most of the bank to Canada's Fairfax Financial, and more than 10,000 staff across over 2,000 branches will participate in the agitation on November 2 and November 3.
Staff question sale transparency despite guarantees
The United Forum of IDBI Officers and Employees says staff are worried about transparency and whether selling control to a foreign company is really in the public's best interest.
Even though both Fairfax and government officials have promised job security and pension protection, many workers still feel uneasy about their future.