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IDBI Bank Employees Observe Strike Against Privatisation

IDBI Bank staff on strike against govt privatisation plan
IDBI Bank saw a one-day employees strike on Friday with staff unions protesting against the government's plan to dilute its stake in the lender and privatise it on the lines of Axis Bank.

Employee unions claimed the strike was a "complete success", but management sources said officers reported for work.
The government currently owns 76.5 per cent in the infra-lender-turned commercial bank, which is grappling with high bad loans and other legacy issues like low retail penetration, among others.

The employees were protesting under the banner of United Forum of IDBI Officers & Employees, and were supported by the All India Bank Officers Association.

"We are against the government plans to sell its stake in IDBI Bank to private players to achieve its disinvestment target of Rs 69,500 crore (in 2015-16)," a union member said.

However, a bank official said there has not been any formal communication from the government on whether it wants to dilute its stake or not.

In the case of Axis Bank, the government indirectly owns 29.54 per cent in the lender through the administrator of Specified Undertaking of the Unit Trust of India (SUUTI), Life Insurance Corporation and four other public sector general insurance companies.

Its direct holding through SUUTI is a little over 11 per cent in the third largest private lender.

Axis Bank was created after UTI, the then largest mutual fund house promoted by the government, went bust in early 1990s.

The scam-hit fund house was trifurcated into UTI- SUUTI, Axis Bank and UTI AMC. The government's residual stake in the private bank is being held by SUUTI.

In September, Finance Minister Arun Jaitley had hinted at changing the characteristics of IDBI Bank on the lines of Axis Bank.

"Take Axis Bank for instance, and that is the model where, through various government instrumentalities, there's a major shareholding that the government has, but the government maintains an arm's length distance and it is a bank which has done remarkably well.

"Therefore, can we, with regard to any other institution that we have, like IDBI, follow that model?" Jaitley had said.

In October, Minister of State for Finance Jayant Sinha had said, "We'll consider transforming IDBI Bank in a manner similar to the way Axis Bank was done."

The PSU bank came into existence after Parliament passed the IDBI Repeal Act in 2003. Under terms of the Act, IDBI has been functioning as a bank in addition to its earlier role of a financial institution.

SOURCE - business-standard

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PUBLIC SECTOR BANK

S.n. Public Sector Banks Web Site
N.
1 Allahabad Bank ................... http://www.allahabadbank.com/
2 Andhra Bank ............................. www.andhrabank-india.com/
3 Bank of Baroda ..................... http://www.bankofbaroda.com/
4 Bank of India ............................ http://www.bankofindia.com/
5 Bank of Maharashtra ................ www.maharashtrabank.com/
6 Canara Bank .......................... http://www.canbankindia.com/
7 Central Bank of India .............. www.centralbankofindia.co.in/
8 Corporation Bank ........................ http://www.corpbank.com/
9 Dena Bank ................................... http://www.denabank.com/
10 Indian Bank .......................... http://www.indian-bank.com/
11 Indian Overseas Bank .......................... http://www.iob.com/
12 Industrial Developmen BANK (IDBI) ........... www.idbi.com/
13 Oriental Bank of India ................ http://www.obcindia.com/
14 Punjab & Sind Bank .................... http://www.psbindia.com/
15 Punjab National Bank ................ http://www.pnbindia.com/
16 State Bank of India ................... www.statebankofindia.com/
17 Syndicate Bank ................. http://www.syndicatebank.com/
18 UCO Bank .................................... http://www.ucobank.com/
19 Union Bank of India ................. www.unionbankofindia.com/
20 United Bank of India .............. www.unitedbankofindia.com/
21 Vijaya Bank .......................................... www.vijayabank.com/


Associate Banks of SBI

S.N Associate Banks of SBI Web Site
1 State Bank of Bikaner & Jaipur .............. www.sbbjbank.com/
2 State Bank of Hyderabad ................. http://www.sbhyd.com/
3 State Bank of Indore ............................. www.indorebank.org/
4 State Bank of Mysore ........................ www.mysorebank.com/
5 State Bank of Patiala ............................ http://www.sbp.co.in/
6 State Bank of Saurashtra ............. http://www.sbsbank.com/
7 State Bank of Travancore www.statebankoftravancore.com/

Private Sector Banks

S.No Private Sector Banks Web Site
1 AXIS Bank Ltd. ........................... http://www.axisbank.com/
2 Centurion Bank of Punjab Ltd ........ www.centurionbop.co.in/
3 City Union Bank Ltd. ......... http://www.cityunionbank.com/
4 Coastal Local Area Bank Ltd. ..... www.coastalareabank.com/
5 Cpital Local Area Bank Ltd ............... www.capitalbank.co.in/
6 Development Credit Bank Ltd. ......... http://www.dcbl.com/
7 ICICI Bank Limited ..................... http://www.icicibank.com/
8 IndusInd Bank Limited................ http://www.indusind.com/
9 ING Vysya Bank Ltd. ...................... www.ingvysyabank.com/
10 Karnataka Bank Ltd. ............. http://www.ktkbankltd.com/
11 Kotak Mahindra Bank Ltd .............. http://www.kotak.com/
12 Krishna Bhima Samruddhi Local Area Bank Ltd
13 SBI Commercial and International Bank Ltd .............. www.sbici.com/
14 Tamilnad Mercantile Bank Ltd ............ http://www.tmb.in/
15 The Bank of Rajasthan Ltd ....... www.bankofrajasthan.com/
16 The Dhanalakshmi Bank Limited. ...... www.dhanbank.com/
17 The Federal Bank Ltd. ....... http://www.federal-bank.com/
18 The HDFC Bank Ltd. ................ http://www.hdfcbank.com/
19 The Jammu & Kashmir Bank Ltd. ..................... http://www.jammuandkashmirbank.com/
20 The Karur Vysya Bank Ltd. ............ http://www.kvb.co.in/
21 The Lakshmi Vilas Bank Ltd. ....... http://www.lvbank.com/
22 The Nainital Bank Ltd.
23 The Ratnakar Bank Ltd. ......... www.theratnakarbank.com/
24 The South Indian Bank Ltd. .... www.southindianbank.com/
25 Yes Bank Limited ....................... http://www.yesbank.co.in/

Foreign Banks

S.N. Foreign Banks Web Site
1 AB Bank Limited ..............................http://www.abbank.org/
2 ABN AMRO Bank N.V. .................. www.abnamroindia.com/
3 Abu Dhabi Commercial Bank Ltd. ...... www.adcbindia.com/
4 Bank Internasional Indonesia ............... www.biimum.com/
5 Bank of America N.A. ................. www.bankofamerica.com/
6 Bank of Bahrain & Kuwait BSC .......... www.bbkonline.com/
7 Barclays Bank Plc ......................... http://www.barcap.com/
8 BNP PARIBAS ..................... http://www.bnpparibas.co.in/
9 Calyon Bank ......................... http://www.ca-indosuez.com/
10 Citibank N.A. ............................ http://www.citibank.co.in/
11 Deutsche Bank AG .............................. http://www.db.com/
12 J P Morgan Chase Bank, National Association ..... www.jpmorgan.com/
13 Krung Thai Bank Public Company Limited
14 Mashreqbank psc .............. http://www.mashreqbank.com/
15 Mizuho Corporate Bank Ltd
16 Oman International Bank S A O G ...... www.oiboman.com/
17 Societe Generale ............................... http://www.sgcib.com/
18 Societe Generale .............................. http://www.sgcib.com/
19 Sonali Bank Ltd. .......................
20 Standard Chartered Bank .... www.standardchartered.com/
21 State Bank of Mauritius Ltd. .. http://www.sbmonline.com/
22 The Bank of Nova Scotia ........ http://www.scotiabank.com/
23 . The Bank of Tokyo-Mitsubishi, Ltd
.24 The Development Bank of Singapore Ltd. (DBS Bank Ltd.) ............................................... http://www.dbs.com/
25 The Hongkong & Shanghai Banking Corporation Ltd.......... http://www.hsbc.co.in/ ·

Co-operative Banks

S.N. Co-operative Banks Web Site
1 Abhyudaya Co-op. Bank Ltd.
2 ACE Co-operative Bank Ltd.
3 Am anath Co-op. Bank Ltd. ........ www.amanath-bank.com
4 Apna Sahakari Bank Ltd ......... www.apnabankltd.com
5 Bassein Catholic Co-op. Bank Ltd.
6 Bombay Mercantile Co-op. Bank Ltd.
7 CITIZENCREDIT Co-op. Bank Ltd. .. www.citizencreditbank.com
8 Dombivli Nagari Sahakari Bank Ltd. .. www.dnsb.co.in
9 Jalgaon Janata Sahakari Bank Ltd.
10 Janakalyan Sahakari Bank Ltd . www.janakalyanbank.com
11 Janalaxmi Co-op Bank Ltd.
12 Janata Sahakari Bank Ltd. .. www.janatabankpune.com
13 Mahesh Sahakari Bank Ltd., Pune
14 Nagpur Nagarik Sahakari Bank Ltd.
15 New India Co-op. Bank Ltd. .. www.newindiacobank.com
16 Nutan Nagarik Sahakari Bank Ltd.
17 Punjab & Maharashtra Co-op. Bank Ltd.www.pmcbank.com
18 Rajkot Nagarik Sahakari Bank Ltd. www.rnsbindia.com
19 Rupee Co-op. Bank Ltd. .. www.rupeebank.com
20 The A.P. Mahesh Co-op. Urban Bank Ltd. .......www.maheshbank.org
21 The Bharat Co-op. Bank (Mumbai) Ltd.
22 The Cosmos Co-op. Bank Ltd. ... www.cosmosbank.com
23 The Deccan Merchants Co-op. Bank Ltd.
24 The Greater Bombay Co-op. Bank Ltd. .......www.greaterbank.com
25 The Gujarat Industrial Co-op. Bank Ltd.
26 The Jalgaon Peoples Co-op. Bank Ltd.
27 The Kalupur Commercial Co-op. Bank Limited .....www.kalupurbank.com
28 The Kapol Co-op. Bank Ltd. .. www.kapolbank.com
29 The Karad Urban Co-op. Bank Ltd. .......... www.karadurbanbank.com
30 The Mahanagar Co-op. Bank Ltd. .. ..... www.mahanagarbank.com
31 The Municipal Co-op. Bank Ltd
32 The North Kanara GSB Co-op. Bank Ltd. ........www.nkgsbank.com
33 The Saraswat Co-op. Bank Ltd. . www. saraswatbank.com
34 The Shamrao Vithal Co-op. Bank Ltd. .........www.svcbank.com
35 The Surat Peoples Co-op. Bank Ltd. www.spcbl.com
36 The Thane Janata Sahakari Bank Ltd. ......www.thanejanata.co.in
37 The Urban Co-op. Bank Ltd.
38 The Zoroastrian Co-operative Bank Ltd ........ www.zoroastrianbank.com