Bank employees begin two-day nationwide strike against IDBI bank privatisation
Employees stage protest at Sector 17 Plaza in Chandigarh
Chandigarh 2 November ( Ranjeet Singh Dhaliwal ) : Bank employees across the country began a two-day nationwide strike on November 2 and 3, 2026, protesting against the proposed privatisation of IDBI Bank. Called by the United Forum of IDBI Officers and Employees, the strike witnessed participation from over 10,000 employees working across more than 2,000 branches nationwide. In Chandigarh, hundreds of bank employees staged a protest at Sector 17 Plaza, demanding the withdrawal of the privatisation process. Saurav Kumar, President of the All India IDBI Officers Association and official spokesperson of the Forum, said the government, LIC and bank employees had collectively played a significant role in reviving IDBI Bank. He questioned the move to hand over an institution rebuilt with public money to private hands.
He said that between 2016 and 2020, the bank suffered heavy losses due to bad loans, prompting the Centre and Life Insurance Corporation (LIC) to infuse over Rs 46,000 crore into it. Employees, meanwhile, worked tirelessly to restore customer confidence. According to the Forum, the bank earned a net profit of over Rs 30,106 crore during the last six years. Its gross NPAs, which stood at 31.78 per cent in 2018, have declined to 2.30 per cent, while net NPAs stand at just 0.16 per cent. Kumar also questioned the proposed sale of the bank to Canada's Fairfax Group, stressing the need for transparency in its valuation and disinvestment process.
Saurav Kumar also raised questions regarding the process of selling the bank to Canada's Fairfax Group. He stated that transparency is absolutely essential in determining the bank's valuation and throughout the entire sale process. All facts should be made public before any decision is taken in this regard. Extending its support to the strike, the United Forum of Bank Unions appealed to other bank employees to wear badges and participate in protest demonstrations. The Forum urged the government to withdraw the privatisation decision and initiate dialogue with employee organisations, warning that the agitation would be intensified if their demands remained unaddressed.

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