Unions await clarity on strike call in IDBI Bank

The unions which were planning a day's strike in IDBI Bank in protest against the Centre's plan to reduce its shareholding in the lender, are waiting for clarity on whether orders issued by two courts in two states would go against their strike.   Commodity Market Astrology Tips

According to AIBEA's general secretary C H Venkatachalam, a court in Karnataka and another in Telangana have issued orders restraining the unions from conducting strikes from March 28 to March 31. The order was issued based on a petition filed by IDBI Bank, and was related to a four-day strike call by a section of bank officers.   Jackpot Stocks Trading Tips

Both AIBEA and All India Bank Officer's Association (AIBOA) had given a one-day strike call on March 28. However, a section of officers went ahead and announced a four-day strike from March 28 to 31. This, according to sources, could create difficulties, considering that the bank would be non-functional for nine days at a stretch starting Friday, March 25 , and that too just before the start of the new financial year.     Share Market Astrology

"There is also a confusion prevailing in terms of the strike. It is only in IDBI Bank that the strike is going to happen and not in other banks," said Venkatachalam.

Various unions were mentioned by IDBI Bank in its petition and it has to be clarified whether the order is binding on all unions and whether or not the unions can go ahead with the one-day strike announced, he added.    Nifty Trading Tips

The one-day strike has been announced by the employees' union against the central government's proposed move to reduce the equity stake in IDBI Bank to less than 50 per cent.