Central unions urge Parliament to pause IDBI majority stake sale
Central trade unions are calling for Parliament to step in after the government approved selling a majority stake in IDBI Bank to 10955230 Canada Inc. (parent entity Fairfax Financial Holdings Ltd.).
They are worried this move could take public control away from a key bank that funds important projects, and they want the sale paused, all documents made public, and an investigation into possible irregularities.
Unions are also backing a hunger strike by IDBI staff on November 2-3 to protest privatization.
Unions warn IDBI sale threatens funding
Unions say losing public control of IDBI Bank could impact funding for core industries and national infrastructure.
They are urging more transparency and accountability, stressing that Parliament should have a say before any major changes happen to such an important institution.