United Forum of IDBI Officers and Employees has called for a one-day nationwide hunger strike on Monday (July 27) to protest proposed privatisation of IDBI Bank through the Department of Investment and Public Asset Management, likely to be concluded by August-end.
Over the last six years, the bank has registered consistent profitability and demonstrated significant improvement across key financial and operational parameters.
The forum fears privatisation would shift the bank’s focus from social banking objectives to purely profit-driven considerations, undermining its developmental role.
The bank ank also possesses real estate assets across more than 21 prime locations, with an estimated valuation exceeding ₹30,000 crore.
Already, Laxmi Vilas Bank has been taken over by DBS, Catholic Syrian Bank by Fairfax, RBL Bank by Emirates NBD and YES Bank is in the process of taking over by the SMBC group.
United Forum of IDBI Officers and Employees has called for a one-day nationwide hunger strike on Monday (July 27) to protest proposed privatisation of IDBI Bank through the Department of Investment and Public Asset Management, likely to be concluded by August-end.
Over the last six years, the bank has registered consistent profitability and demonstrated significant improvement across key financial and operational parameters. At this juncture of sustained turnaround, the move towards privatisation has caused deep concern among employees with respect to job and social security benefits, including pension, leaders of the forum said.
Differently-abled staff
The forum has also expressed serious apprehension regarding the future of 884 differently-abled employees. The bank currently employs provides 3,070 SC, 1,214 ST, 5,604 OBC, and 805 EWS employees. A change in ownership structure will result in the bank moving out of the ambit of reservation policies applicable to public sector institutions, thereby adversely impacting social justice in employment.
Privatisation would also take the bank outside the purview of statutory and parliamentary oversight mechanisms such as Right to Information Act, Central Vigilance Commission, and Parliamentary Committees, diluting transparency and public accountability.The bank presently services over two crore customers through a network of 2,193 branches, a deposit base exceeding ₹3.47 lakh crore, including ₹1.55 lakh crore in low-cost deposits.
Financial inclusion
The bank is also actively engaged in implementing key social security and financial inclusion initiatives such as: 18.72 lakh accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY); 10.86 lakh enrolments under Pradhan Mantri Suraksha Bima Yojana (PMSBY); 3.81 lakh enrolments under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY); 5.48 lakh subscribers under Atal Pension Yojana (APY), the forum leaders pointed out.
In addition, it manages 191 Aadhaar Enrolment Centres and a Rural Self Employment Training Institute (RSETI), contributing meaningfully to financial inclusion and skill development among the youth. The forum fears privatisation would shift the bank’s focus from social banking objectives to purely profit-driven considerations, undermining its developmental role. The bank ank also possesses real estate assets across more than 21 prime locations, with an estimated valuation exceeding ₹30,000 crore.
Foreign ownership
If the proposed strategic sale materialises, IDBI Bank would become the first public sector bank to be transferred to foreign ownership, contrary to the stated national commitment towards Atmanirbhar Bharat and economic self-reliance. Already, Laxmi Vilas Bank has been taken over by DBS, Catholic Syrian Bank by Fairfax, RBL Bank by Emirates NBD and YES Bank is in the process of taking over by the SMBC group.
Appeal to parties
In this background, the forum appealed to all political parties, representatives in Parliament, Leader of Opposition, central trade Unions, constituents of the banking fraternity, economists, academicians, and concerned citizens to intervene and urge the Centre to reconsider the proposed privatisation in the larger national interest more so since this is contrary to assurance given to Parliament.
The move also compromises the nation’s sovereignty. The forum said it is reaching out to Mohan Bhagwat, RSS chief, and Swadeshi Jagaran Manch (SJM) to prevail upon the Centre desist from privatising the bank.
Published on July 17, 2026
