IDBI Bank Employees to Go on Nationwide Strike on 2nd and 3rd November 2026

The United Forum of IDBI Officers & Employees (UFIOE) has released a press release related to the Nationwide Strike on 2nd and 3rd November 2026.

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The United Forum of IDBI Officers and Employees (UFIOE) has announced that more than 10,000 IDBI Bank employees working across over 2,000 branches will go on a two-day nationwide strike on November 2 and 3, 2026, to oppose the bank’s proposed privatisation. The forum said IDBI Bank’s financial recovery was made possible by public investment and the continuous efforts of its employees. It stated that the Government of India and Life Insurance Corporation of India (LIC) invested more than Rs. 46,000 crore in the bank after its financial position deteriorated between 2016 and 2020 following the identification of stressed loans.

Also Read: IDBI Bank Privatisation was announced in 2016, Sold after 10 years

According to the forum, employees continued serving customers and maintaining banking services during those difficult years, helping restore public confidence in the bank. It said IDBI Bank has earned a cumulative net profit of Rs. 30,106.43 crore over the last six years, while its gross non-performing asset (NPA) ratio has declined from 31.78% in 2018 to 2.30%. The net NPA ratio stands at 0.16%, the capital adequacy ratio at 26.38%, and the provision coverage ratio at 99.31%. UFIOE argued that these improvements show that IDBI Bank should be strengthened as a public-sector institution rather than privatised.

The forum also raised concerns over the proposed sale of the bank to Canada’s Fairfax Group, alleging that the valuation was inadequate and questioning the transparency of the sale process. It demanded that the government make relevant information public and order an independent investigation into concerns about the transaction. The forum further said that the proposed privatisation goes against the spirit of the Constitution, assurances given to Parliament, and the interests of the bank, its employees, shareholders and the public.

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It argued that the government must remain accountable to the people whose money helped revive the bank. UFIOE also thanked the All India Bank Officers’ Association (AIBOA) for supporting IDBI Bank employees and urged bank employees across the country to wear badges at work and participate in demonstrations in support of the strike. The forum called on the government to cancel the privatisation process and begin meaningful discussions to protect public investment and employees’ interests. It warned that if the government failed to respond positively, the forum would intensify its agitation.

Also Read: IDBI Bank reports net profit of Rs 2,205 crore for Q2FY27