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Govt move to dilute stake in IDBI opposed

By The Assam Tribune
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GUWAHATI, Oct 27 - The United Forum of IDBI Bank Officers and Employees Associations, North East Region has vehemently opposed the government�s proposed move to dilute the Government of India�s stake in the IDBI Bank.

In a press release here this evening, the Forum said that the arbitrary and subjective move of the Government of India to dilute its stake in the bank not only tantamounts to reneging on the solemn assurance given by the then finance minister on the floor of the Parliament on December 8, 2003 which formed the basis for the ultimate passage of the IDBI (Transfer of Undertaking and Repeal) Act, 2003, but is also patently inconsistent with the spirit and objective of the IDBI (Transfer of Undertaking and Repeal) Act, 2003.

In this connection members of the Forum also took part in a nationwide demonstration programme, the release added.

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Govt move to dilute stake in IDBI opposed

GUWAHATI, Oct 27 - The United Forum of IDBI Bank Officers and Employees Associations, North East Region has vehemently opposed the government�s proposed move to dilute the Government of India�s stake in the IDBI Bank.

In a press release here this evening, the Forum said that the arbitrary and subjective move of the Government of India to dilute its stake in the bank not only tantamounts to reneging on the solemn assurance given by the then finance minister on the floor of the Parliament on December 8, 2003 which formed the basis for the ultimate passage of the IDBI (Transfer of Undertaking and Repeal) Act, 2003, but is also patently inconsistent with the spirit and objective of the IDBI (Transfer of Undertaking and Repeal) Act, 2003.

In this connection members of the Forum also took part in a nationwide demonstration programme, the release added.

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