This bank's officers' association to go on hunger strike on March 30

The Officers' Association has been protesting over RBI categorising IDBI Bank as a private sector lender with effect from January 21, 2019

This bank's officers' association to go on hunger strike on March 30
IDBI Bank reported widening of loss to Rs 4,185.48 crore as bad loans surged. Photo: PTI
Written By: PTI
Updated: Tue, Mar 26, 2019
06:03 pm
New Delhi, PTI
RELATED NEWS
In chat with Anil Singhvi, analyst Vikas Sethi recommends Sonata Software, IDBI Bank as top buys for big gains In chat with Anil Singhvi, analyst Vikas Sethi recommends Sonata Software, IDBI Bank as top buys for big gains
In chat with Anil Singhvi, IDBI Bank MD & CEO Rakesh Sharma reveals future growth plans post-PCA framework exit In chat with Anil Singhvi, IDBI Bank MD & CEO Rakesh Sharma reveals future growth plans post-PCA framework exit
Public Sector Banks Privatisation News: Big confirmation by Modi government - Check latest news update Public Sector Banks Privatisation News: Big confirmation by Modi government - Check latest news update

IDBI Bank Tuesday said its all-India Officers' Association will observe a one-day nationwide hunger strike on March 30, over various demands. "The Bank is in receipt of notice of one-day nationwide hunger strike on March 30, 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.

The Officers' Association has been protesting over RBI categorising IDBI Bank as a private sector lender with effect from January 21, 2019, pursuant to LIC acquiring 51 per cent 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 per cent of gross advances as at December 31, 2018, against 24.72 per cent in the year-ago period.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.