Mumbai, November 1, 2026 (Yes Punjab News)
More than 10,000 employees of IDBI Bank are set to stage a nationwide two-day strike on November 2 and 3, opposing the proposed privatisation of the lender and the government’s plan to transfer control to a private investor.
The strike has been called by the United Forum of IDBI Officers & Employees, which has urged the government and the bank’s management to abandon the disinvestment process.
The employees’ body argues that IDBI Bank’s financial recovery was achieved through public investment and the efforts of its workforce, rather than private ownership. In a statement, it credited financial support from the government and the Life Insurance Corporation of India (LIC), along with employees’ efforts to retain customers, sustain operations and rebuild confidence in the bank.
IDBI Bank reported substantial losses between 2016 and 2020 after stressed assets were recognised under the Reserve Bank of India’s Asset Quality Review exercise. According to the forum, the government and LIC infused more than Rs 46,000 crore into the lender during this period to support its recovery.
The union cited the bank’s improved financial position to oppose the proposed sale. It said IDBI Bank had recorded cumulative net profits of more than Rs 30,100 crore over the past six years, while its gross non-performing asset ratio fell from 31.78 per cent in 2018 to 2.30 per cent.
The bank’s net NPA ratio stands at 0.16 per cent, with a capital adequacy ratio of 26.38 per cent and a provision coverage ratio of 99.31 per cent, the forum said.
The proposed transfer of control to Canada’s Fairfax Group has drawn strong opposition from employee unions. The forum has also questioned the valuation of the lender and raised concerns over transparency in the sale process.
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