Officers and employees of IDBI Bank issue a call for a nationwide hunger strike on March 9

Employees cannot remain silent spectators of a policy decision that undermines public banking and national interests, the United Forum of IDBI Officers and Employees said. | Photo credit: ADNAN ABIDI

If the demands are not met, the Forum may be forced to intensify future agitation programs with strike actions lasting more than one day and even call for an indefinite strike without notice.

Contact RSS

“We remain hopeful that the bank management and the Center will intervene constructively to resolve the dispute in the interest of employees, depositors and the entire country,” said Devidas Tuljapurkar, Chairman of the Forum; and Ratnakar Wankhade and Vithal Koteshwara Rao, joint chairmen. The Forum is contacting RSS supremo Mohan Bhagwat and Swadeshi Jagran Manch to urge the Center to call off the privatization drive.

Badly timed move

The strategic sale process is likely to be completed by the end of the current fiscal year, i.e., March 2026, at a time when the bank has registered consistent profitability and shown significant improvement in key financial and operational parameters, the Forum said. This ill-timed move has raised major concerns among workers about job security and social security benefits, including pensions.

Charter of Requirements

Other demands of the Forum include: restoration of the Centre’s shareholding to not less than 51 per cent, in honor of the solemn promises made to Parliament; assurance that IDBI Bank will continue to operate in the public sector; written legal guarantee guaranteeing the terms of service, pension and reservation policies; tripartite consultation involving the Centre, bank management and trade unions/associations prior to any ownership restructuring.

Regulatory oversight

Workers cannot remain silent bystanders to a policy decision that undermines public banking and national interests, the report said. Under the Banking Regulation Act, banking companies operate under the supervision of the Reserve Bank. Changes in share ownership above prescribed thresholds require regulatory oversight. The transfer of control over a bank’s management has systemic implications that affect depositors and financial stability.

Published on February 21, 2026