While a group of employees under the banner of United Forum of IDBI Officers and Employees has given a one-day strike call on March 28, another outfit United Platform of IDBI Bank Unions are on a four-day strike till March 31.

The unions and management had two conciliation meetings with the Mumbai labour commissioner earlier this month but failed to resolve their differences.

"We had two meetings with the labour commissioner on March 18 and 21 but both the meetings failed and we are going ahead with the four-day strike," said an office bearer of the United Platform of IDBI Bank Unions.

The bank has around 17,500 employees. The strike will be nation-wide, except in Karnataka where the High Court has restrained the unions from any kind of protest or strike.

Employees are protesting the government proposal to bring down its stake in the bank from around 80 percent to under 50 percent.

In the Budget, Finance Minister Arun Jaitley had said the government was open to bring down its stake in IDBI Bank to below 50 percent.

"The process of transformation of IDBI Bank has already started. The government will take it forward and also consider the option of reducing its stake to below 50 per cent," Jaitley had said.

 Latest News from Business News Desk