The proposed privatisation of IDBI Bank has raised concerns among its employees over the future of their jobs, reservation policies and the employment protections that may apply once the bank moves into private ownership.
The United Forum of IDBI Officers and Employees has opposed the proposed sale of a 60.72 per cent stake in the bank to Fairfax Financial Holdings, calling for the process to be suspended and reviewed under parliamentary scrutiny. The employee body has argued that the ownership transition should not come at the cost of workforce security or the bank’s wider social responsibilities.
The concerns are particularly significant given the composition of IDBI Bank’s workforce. The bank has 19,108 employees, including 9,500 belonging to Scheduled Castes, Scheduled Tribes and Other Backward Classes. Its workforce also comprises 6,911 women and 884 employees with disabilities. Employee representatives have questioned how the change in ownership could affect the employment opportunities, representation and protections available to these groups.
At a national convention on the proposed privatisation, the forum also raised concerns about the future of the bank’s social banking commitments, including financial inclusion and development-oriented lending. It has maintained that these responsibilities and reservation-related opportunities should not be diluted in the shift towards private ownership.
For employees, however, the proposed sale is not merely a change in the bank’s ownership structure. It raises questions about the continuity of employment safeguards, representation and the social obligations that have shaped the institution. The forum is seeking assurances that these considerations will remain part of IDBI Bank’s framework after the transition.
