The United Forum of IDBI Bank Officers and Employees has threatened to intensify its protests if the Centre does not reconsider its move to dilute its stake in the bank.
Officers and employees of the bank carried out a nationwide one-day strike on Friday in support of their campaign against the proposed move at 'privatising' the bank.
R.S. Athalye, convener of the United Forum, said all branches of the bank remained closed bringing business to a grinding halt.
Instead of trying to contain the growth of non-performing assets (NPAs), the Centre was planning to hand over the bank on a platter to the same corporates that were responsible for the surge in NPAs.
The Finance Ministry had proposed the divestment of its stake and was pushing the bank to follow the Axis Bank model, Athalye alleged.
According to him, the move is a breach of the assurance given on the floor of Parliament by the then Government while repealing the IDBI Act to convert it into a universal bank.