AIRRBEA Calls for United Resistance Against IPO Move in Regional Rural Banks

In a letter dated June 10, 2025, AIRRBEA urged all apex-level unions in the RRB sector to deliberate on the proposed IPO plan and adopt a unified stand against it. The organisations AIRRBEA reached out to include: 

• AIGBWO (All India Gramin Bank Workers' Organization)
• AIGBOO (All India Gramin Bank Officers' Organization)
• AIGBEA (All India Gramin Bank Employees' Association)
• AIGBEC (All India Gramin Bank Employees' Congress)
• NCRRBE (National Confederation of Regional Rural Bank Employees)
• AIRRBOF (All India Regional Rural Bank Officers Federation)
• AIGBOA (All India Gramin Bank Officers' Association)

Citing the Ministry of Finance’s directive issued to sponsor banks (F.No. 7/4/2022-RRB dated May 16, 2025), AIRRBEA said the IPO proposal is a “retrograde move” that could ultimately lead to the privatisation of RRBs. The association reaffirmed its long-standing opposition to the plan and announced a series of measures, including mobilisation for a national strike and a high-level coordination meeting with all apex RRB unions.

Recently, BMS-affiliated unions—AIGBOO and AIGBWO—also voiced their opposition to the government’s IPO proposal for Regional Rural Banks.

IPO Plan Seen as Backdoor Privatisation

AIRRBEA noted that while the IPO is being presented as a method to raise capital, its underlying implications could threaten the rural and public sector character of RRBs. “We have been opposing this proposal for years,” the association stated in its circular dated June 10, 2025, warning that such a step could dilute the developmental mandate of rural banks.

In response, AIRRBEA and its affiliated federations will join the All India General Strike on July 9, 2025, called by central trade unions and independent associations, as a show of solidarity and to oppose privatisation across key sectors including banking.

Central Committee Meeting and Joint Strategy Session

To intensify its campaign, AIRRBEA has scheduled a Central Committee Meeting in Kolkata on June 28–29, where the agenda will focus on finalising agitation strategies, not just against the IPO move but also on long-pending demands affecting the RRB workforce.

Further, AIRRBEA has proposed a joint meeting of all apex-level RRB unions on June 30, 2025, also in Kolkata, to forge a common stand and formulate a united action programme. The invitation has been extended to unions including AIGBWO, AIGBOO, AIGBEA, AIGBEC, NCRRBE, AIRRBOF, and AIGBOA.

Call for Joint Resistance on Lines of UFBU

Drawing parallels with the United Forum of Bank Unions (UFBU)—which represents Public Sector Banks—AIRRBEA has urged similar unity among RRB apex unions. “This is the time for all apex unions in RRBs to join hands,” the letter stresses, warning that failure to act could result in irreversible privatisation of grassroots banking institutions.

AIRRBEA’s stance reflects the growing unease among rural banking employees, as it calls for united resistance from all apex RRB unions against the proposed IPO. The developments surrounding the IPO move are expected to unfold in the coming days.