IDBI Bank Employees Strike For Two Days Over Privatisation Concerns

TV9 Hindi · business

Thousands of IDBI Bank employees across India began a two-day nationwide strike, protesting the government's plan to hand over the bank's control to Canada's Fairfax Group. The 'United Forum of IDBI Officers and Employees' called the strike, demanding an immediate withdrawal of the privatisation process. Employees are also questioning the valuation method and lack of transparency in the sale. They argue that the bank has recovered significantly from past losses, achieving over ₹30,100 crore in net profit in six years, making the sale unjustified.