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All India Strike Against IDBI Bank Privatisation - Bankers Say 'This Struggle is to Save Bank'
IDBI Bank employees have been fighting for years to keep the bank in the public sector. According to the United Forum of Officers and Employees, they have been compelled to call a strike as the Union Government moves ahead with plans to privatise IDBI Bank.
Author: Nidheesh V
Published: August 9, 2025
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The United Forum of Officers and Employees has called for an all-India strike on 11 August 2025. In its statement, the forum said the strike became inevitable after the bank’s management took a casual approach and showed apathy in addressing their concerns.
Image - A poster by United Forum of Officers and Employees in X
It is reported that Emirates NBD, a Dubai-based private entity, is the final bidder for acquiring a stake in IDBI Bank.
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The forum’s statement reads:
“The Ministry of Finance and the Secretary have repeatedly maintained that whether it is a merger or disinvestment, all decisions are board-driven since the government has granted autonomy. Meanwhile, IDBI management has officially stated that they are unaware of developments in this regard and therefore cannot take a position on the matter.”
Image: Press Release by United Forum of Officers and Employees
The bankers say that if the government goes ahead with its plan, they will have no choice but to proceed with the strike.
The statement further adds:
“Laxmi Vilas Bank has already been taken over by Singapore-based DBS Group, Japanese group. SMBC is in the process of acquiring Yes Bank. And now, Dubai-based NBD is set to take over IDBI Bank. With India signing a free trade agreement with the UK and possibly with the EU, several foreign entities will eye Indian banks and insurance companies for acquisition. This will jeopardise the economic sovereignty of India.”
Striking employees held a Dharna at Azad Maidan, Mumbai on Saturday, 9 August 2025 with the slogan “Chale Jao” (Meaning “Go Away”), aimed at the proposed buyer, most likely Emirates NBD.
The statement criticises the government, saying:
“The same government that speaks of Swadeshi and self-reliance is now surrendering the financial autonomy of sovereign India to foreign entities.”
The forum has clarified that all unionised employees and officers will observe the strike on 11 August 2025. Major national-level unions such as AIBOC, AIBEA, AIBOA, and BEFI have extended their support. The forum claims that if the government goes ahead with its privatisation plan, unions will escalate their protest, including further strikes, as the threat is not limited to IDBI alone — the entire banking and insurance sector, along with India’s economic independence and sovereignty, is at stake.
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