Employees cannot remain silent spectators to a policy decision that undermines public banking and national interest,United Forum of IDBI Officers and Employees said.
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ADNAN ABIDI
The United Forum of IDBI Officers and Employees has served notice for a one-day nation-wide hunger strike and demonstrations across the country on March 9, to press its demand, among others, for an immediate halt to proposed strategic disinvestment process of IDBI Bank.
In case the demands are not met, the Forum may be forced to intensify future agitation programmes with strike action for more than one day and may even include indefinite strike call without further notice.
Reaching out to RSS
“We remain hopeful that the bank management and the Centre will intervene constructively to resolve the dispute in the interest of employees, depositors, and nation at large,” said Devidas Tuljapurkar, Convenor of the Forum; and Ratnakar Wankhade and Vithal Koteshwara Rao, Joint Convenors. The Forum is reaching out to RSS supremo Mohan Bhagwat and Swadeshi Jagran Manch to prevail upon the Centre to call off privatisation move.
Ill-timed move
The strategic sale process is likely to be concluded by the end of the current financial year, i.e., March 2026 at a time when the bank has been registering consistent profitability and demonstrated significant improvement across key financial and operational parameters, the Forum said. The ill-timed move has caused deep concern among employees with respect to job security and social security benefits, including pension.
Charter of demands
Other demands of the Forum include: restoration of Centre’s shareholding to not less than 51 per cent to honour solemn assurances given to Parliament; assurance that IDBI Bank shall continue in the public sector; written statutory assurance safeguarding service conditions, pension and reservation policies; tripartite consultation involving the Centre, bank management and unions/associations prior to any ownership restructuring.
Regulatory scrutiny
Employees cannot remain silent spectators to a policy decision that undermines public banking and national interest, it said. Under Banking Regulation Act, banking companies operate under regulatory supervision of Reserve Bank. Change in shareholding beyond prescribed thresholds requires regulatory scrutiny. Transfer of management control in a bank has systemic implications affecting depositors and financial stability.
Published on February 21, 2026
