IDBI Bank Employees Intensify Agitation Against Privatisation and Toxic Work Culture

Employees of IDBI Bank, represented by the All India IDBI Officers' Association (AIIDBIOA), have decided to intensify their ongoing protest against the government's proposed privatisation of the bank. In addition to the privatisation concerns, the protest also highlights a series of unresolved issues related to toxic work culture within the institution. The second phase of the protest begins on 19 October 2024, with employees wearing black badges every Saturday to register their dissent.

Escalation of Protest

The AIIDBIOA circular outlines the measures, including avoiding work-related communication after official working hours, refusing to attend any official work on Sundays and holidays, and recording all calls from senior management to protect their self-interest.

(The circular released by AIIDBIOA)

Starting 19 October 2024, the protest will be intensified with all employees wearing black badges on Saturdays. Photos and videos of this symbolic protest will be shared via the United Forum of IDBI Officers and Employees' official Twitter handle to amplify the message and draw public attention to their demands.

The employees are calling for an end to the government's plan to privatise IDBI Bank, a move they believe will put the bank’s future and the jobs of its workforce at risk. "The proposed sale of IDBI Bank to private or foreign players not only jeopardises the interests of employees but also threatens the interests of depositors and borrowers," said Vithal Koteswara Rao, General Secretary of AIIDBIOA. The bank, which has over 18,000 employees, has been steadily recovering from financial distress and privatisation, according to the unions, would undo these efforts.

In addition to their opposition to privatisation, IDBI employees have raised concerns over toxic work culture within the bank. The circular issued by the AIIDBIOA calls for addressing a range of issues, from toxic work conditions to undue pressure on staff for non-core banking tasks like Total Portfolio Delegation (TPD) business, which distracts from essential banking services. The union has also raised demands related to job benefits, such as revising lease rentals, introducing furniture allowances, improving medical benefits, and ensuring performance-linked incentives for all employees.

(A campaign poster of the agitation describing the demands.) 

Demand for Government Action

The union has reiterated its call for the government and Life Insurance Corporation (LIC) to halt the proposed sale of IDBI Bank. Employees argue that instead of selling the bank, the government should focus on resolving outstanding employee grievances and improving working conditions. They believe the privatisation move violates earlier commitments made in Parliament, where it was assured that the government would retain majority ownership of the bank.

Among the unresolved demands, the union is also seeking pension benefits for resigned employees, improved working conditions at rural branches, and an end to what they describe as "toxic" work pressures.

As the protest continues to gain momentum, employees remain firm in their stance. With the second phase of their agitation, the IDBI workforce is determined to make their voices heard and ensure that their demands are addressed by the government.

The first phase of protest showcased several actions by employees and officers aimed at registering their opposition to the divestment move through peaceful protest. It includes gate meetings to a dharna at Jantar Mantar, New Delhi organised by the United Forum of IDBI Unions, a joint forum of employees and officers of IDBI bank.  

 The union has made it clear that if their demands are not met, the agitation will escalate further, with more disruptive measures likely to follow.