IDBI Bank unions threaten strike over wage revision

Around 17,000 employees of the troubled state-run IDBI Bank, that has been reporting heavy losses on rising bad loans for several quarters now, have threatened to go on a nationwide strike, if the management fails to conclude a new wage pact before the month-end. The salary revision of IDBI Bank employees, who do not come under the Indian Banks’ Association’s industry-wide wage settlement, had been pending since October 2012.