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  Business   In Other News  06 Aug 2018  Young IDBI staff threatens suicide as merger plan with LIC moves on

Young IDBI staff threatens suicide as merger plan with LIC moves on

FINANCIAL CHRONICLE
Published : Aug 6, 2018, 1:53 pm IST
Updated : Aug 6, 2018, 1:53 pm IST

IDBI Bank Officers’ Association, in association with AIBOC, will go on strike from August 6-10.

The LIC-IDBI merger looks only a matter of time now, but the discontent among bank employees is growing.
 The LIC-IDBI merger looks only a matter of time now, but the discontent among bank employees is growing.

New Delhi: The LIC-IDBI merger looks only a matter of time now, but the discontent among bank employees is growing. Even as the Union cabinet has given its approval for the merger, a new bank recruit is learnt to have threatened to end his life as he fears his hard-earned job could be in line.

Bank employee unions, including IDBI Bank Officers’ Association, are demanding that officials of the bank be absorbed in other state-owned lenders. IDBI Bank Officers’ Association, in association with All India Bank Officers’ Confederation (AIBOC), will go on strike from August 6-10. They will also hold a silent protest at Jantar Mantar in Delhi on August 9.

 

IDBI Bank Officers’ Association’s general secretary Swamy Elanjelian told FC that the proposed merger would affect the services of the bank staff in some way or the other.

“That is why we demand that officials of the bank be absorbed into other government-owned lenders as a precautionary measure so as to avoid some untoward incidents like ending life and all,” Elanjelian said.

According to a top source in the IDBI Bank, a newly-recruited, young official is learnt to have threatened in social media to end his life if the merger takes place.

“Disheartened by the reports of merger, he warned us again and again that he would take the extreme step of ending life. The person concerned, who cracked the competitive examination through the Institute of Banking Personnel Selection (IBPS), was very much frustrated,” Elanjelian added.

 

There are many more who feel vulnerable but they are not coming out in the open for fear of transfer or demotion and threats from their region or branch heads. “The case here on suicide mode has backtracked his doings after threats of serious consequences of transfer or any mode of punishment,” Elanjelian said.

An email query sent to IDBI Bank in this regard remained unanswered till the time of going to the press. Elanjelian said the union has filed a case in Bombay High Court in this matter and the hearing is on Monday.

“While we welcome the contribution of LIC into the capital of IDBI Bank, you will appreciate that it cannot be allowed to hold 51 per cent because this would reduce the government’s share to less than 51 per cent which would go against the ‘Articles of Association’ of the bank and also the solemn assurance to Parliament made in 2003 during the then NDA/BJP regime when Atal Bihari Vajpayee was the prime minister,” said All-India Bank Officers’ Association general secretary CH Venkatachalam.

 

Tags: life insurance corporation, idbi bank, merger, aiboc, swamy elanjelian
Location: India, Delhi, New Delhi