IDBI Bank Employees Strike Over Proposed Privatization

More than 10,000 employees of IDBI Bank are conducting a nationwide two-day strike on November 2 and 3, 2026. The action, organized by the United Forum of IDBI Officers & Employees, protests the Government of India's plan to privatize the lender and transfer control to the Canada-based Fairfax Group.

Union representatives argue that privatization is unnecessary because the bank's recovery was driven by public investment and employee effort. They noted that the government and Life Insurance Corporation of India infused over Rs 46,000 crore into the bank between 2016 and 2020. While the bank has reported cumulative net profits exceeding Rs 30,100 crore over the last six years and a reduced non-performing asset ratio, the union claims the proposed valuation lacks transparency and is inadequate.

IDBI Bank issued an advisory warning that branch-based operations may be disrupted during the strike. However, the bank confirmed that digital channels, including internet banking, UPI, ATMs, and Go Mobile+, will remain fully operational. To mitigate customer inconvenience, the bank announced that cash withdrawals from non-IDBI Bank ATMs will be free of charge for the duration of the strike.