New Delhi, Oct. 19 -- The United Forum of IDBI Officers and Employees (UFIOE) has announced a two-day nationwide hunger strike on November 2 and 3 to oppose the proposed sale of IDBI Bank to Canada-based Fairfax Financial Holdings Group. The forum, which represents officers and employees through two associations, has issued a formal strike notice to the bank's management under the Industrial Relations Code, 2020.
The agitation comes amid the proposed transfer of management control of the bank to the Fairfax group, alongside the dilution of the government's and Life Insurance Corporation of India's (LIC) stakes. The forum has urged the government to reconsider the transaction, arguing that the bank's public sector character should be preser...