IDBI Bank staff plan nationwide hunger strike over Fairfax sale
IDBI Bank staff across India are gearing up for a hunger strike on November 2 and 3, 2026.
They are protesting the government's decision to sell most of its stake in the bank to Fairfax Financial Holdings.
The United Forum of IDBI Officers and Employees (UFIOE) says they are worried this privatization could change the bank's public sector identity.
UFIOE urges pause, preserve 51% ownership
The UFIOE is asking the government to pause the sale and keep its promised 51% ownership from back in 2003.
They also want job security, protection of employee benefits, and concerns for depositors, farmers, small borrowers, and employees.
The union suggests all outsourced and contractual workers employed by IDBI Bank should be absorbed into IDBI Bank, and employees should have options to transfer to other public banks without losing their current terms.
If their concerns are not addressed, they are ready for bigger protests, but say they are open to talking things out with officials.