IDBI Bank Officers' Association to go on hunger strike on 30 March over various demands

New Delhi: IDBI Bank on Tuesday said its all-India Officers' Association will observe a one-day nationwide hunger strike on 30 March, over various demands.

"The Bank is in receipt of notice of one-day nationwide hunger strike on 30 March, 2019 from All India IDBI Officers' Association (AIIDBIOA) addressed to MD & CEO, IDBI Bank in support of their various demands," IDBI Bank said in a stock exchange filing.

 IDBI Bank Officers Association to go on hunger strike on 30 March over various demands

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The Officers' Association has been protesting over RBI categorising IDBI Bank as a private sector lender with effect from 21 January, 2019, pursuant to LIC acquiring 51 percent controlling stake in the bank.

For December quarter of this fiscal, IDBI Bank reported widening of loss to Rs 4,185.48 crore as bad loans surged.

The bank's gross non-performing assets (NPAs) shot up to 29.67 percent of gross advances as at 31 December, 2018, against 24.72 percent in the year-ago period.

Updated Date: Mar 26, 2019 14:36:47 IST