Why IDBI Bank employees called for 2-day strike

United Forum of Bank Unions (UFBU) has extended its support to the united forum of IDBI officers and employees who have planned agitation culminating in a two-day strike on November 2 and 3, 2026.

The UFBU, in a letter dated 22, 2026, has also appealed to its members to participate in IDBI Bank employees’ agitational activities, releasing its own schedule for agitation.

The UFBU is raising an objection against the government’s decision of selling its own and Life Insurance Corporation of India’s (LIC) 60% stake in IDBI Bank to Canadian investor Fairfax Financial Holdings.

Earlier, the United Forum of IDBI officers and employees had called its members to participate in the planned agitation, culminating with the two-day nationwide strike.

IDBI Bank employees’ proposed strike dates

The UFBU says that IDBI officers and employees have announced a series of protest programmes, culminating in a two-day all-India strike on November 2 and 3, 2026.

UFBU’s programme for IDBI Bank employees' agitational activities

The UFBU’s schedule for IDBI’s agitational activities is as follows-

Why is the UFBU opposing the sale of IDBI Bank to a foreign investor?

The UFBU argues that selling a profitable bank with a substantial deposit base to a foreign investor raises concerns about public ownership and the government's stated commitment to self-reliance, or Atmanirbhar Bharat.

UFBU highlights government’s assurance on retaining the majority ownership of IDBI Bank

In its letter, the UFBU has highlighted the government's earlier assurance on retaining the majority ownership in IDBI.

The letter says that in December 2003, during discussions in Parliament on the bill to repeal the IDBI Act and convert the institution into a deemed banking company, the then Finance Minister Jaswant Singh had assured that the government would retain at least a 51% stake in IDBI. The UFBU said the assurance was recorded in Parliament and subsequently confirmed to the Committee on Assurances.

In 2005, IDBI Bank Ltd., a subsidiary of IDBI, was merged with IDBI. The institution was renamed IDBI Bank in 2008, says the letter.