Employees at IDBI Bank have announced a nationwide strike scheduled for July 27, escalating tensions surrounding the lender's ongoing privatisation process.
The United Forum of IDBI Officers and Staff cited concerns over job security and the potential impact of ownership changes as the primary drivers for the industrial action.
The walkout comes at a critical juncture for the bank's sale.
The Indian government has recently received revised financial bids from two major consortia: one led by Canada’s Fairfax Financial Holdings and another by Dubai’s Emirates NBD.
Officials have indicated that the transaction process is advancing, with a final decision on the buyer expected in the near term.
Market sentiment had been positive ahead of the strike announcement.