Here's why IDBI Bank employees are going on a pan-India strike from March 28

IDBI Bank employees have decided to go on a four-day nation-wide strike from March 28 to oppose the government's move to dilute its stake in the troubled state-run lender.

Employees and officers of the lender under the banner of United Platform of IDBI Bank Unions have given the strike call.

"We are against the privatisation plan. If the government wants to divest their stake they can do it but the bank should remain a public sector bank," United Platform of IDBI Bank Unions said in a statement while claiming that the Platform has the support of over 12,000 employees of the bank.

"We want a written assurance from the government that their shareholding in IDBI Bank will not be less than 51% at all times as assured on the floor of the Parliament," it said.

The government owns around 80% stake in the lender.

In the Budget, Finance Minister Arun Jaitley had said the government was open to bringing its stake in IDBI Bank to below 50%.

"The process of transformation of IDBI Bank has already started. The government will take it forward and also consider the option of reducing its stake to below 50%," Jaitley said in the February 29 Budget speech.

The employees are also demanding immediate implementation of wage settlement which is pending since November 2012.