Dubai’s Emirates NBD Bank PJSC and Fairfax, established in Canada, are said to be the leaders to acquire majority at Idbi Bank. | Photocredit: Adnan Abidi
The United Forum of IDBI officers and employees on Saturday said that until the end it will continue to fight an intense fight against the privatization of Idbi Bank.
In a protest organized in Mumbai, the Forum appealed to Prime Minister Narendra Modi and Minister of Finance Nirmala Sithananan to maintain the character of the public sector of Idbi Bank and to protect the institution against the fall of foreign capitalists.
The members of the forum undertook a “Chale Jao” (go back) protest on Azad Maidan in Mumbai against the move to privatize the bank, according to her statement. According to reports, Dubai’s Emirates NBD Bank PJSC and Fairfax established in Canada are said to be the leaders to acquire the majority in the bank.
LIC and the government have 49.24 percent and 45.48 percent respectively, respectively at Idbi Bank. They are expected to get 30 percent of their interests in the bank on a potential buyer through the disinvestment process, which was started in October 2022 by the Department of Investment & Public Asset Management (DIPAM).
In the meantime, Idbi Bank said that on 11 August 2025 it will receive a notification for a strike from the United Forum of IDBI officers and employees (All India Idbi Officers Association and All India IDB Employee Association) to support their “Eis”.
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Published on August 9, 2025
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