IDBI Bank staff to protest before Parliament to stall disinvestment

"There is no reason why this profit-making entity should be sold to private entities, more so to entities of foreign origin." the forum said.

The officers and employees of IDBI Bank will hold a dharna before Parliament during the Budget session to highlight their demand to stall disinvestment in the bank and protect the interests of 30 million customers, 20,000 employees, and the nation.

 

The United Forum of IDBI Officers and Employees, in a statement, said they met representatives of various political parties and submitted a memorandum urging them to intervene in the process of the strategic disinvestment of the profit-making government entity, IDBI Bank.

 

"There is no reason why this profit-making entity should be sold to private entities, more so to entities of foreign origin. IDBI Bank, which has booked profits consistently for the last four financial years (FY21–24), is likely to end the current financial year (FY25) with a profit of Rs 7,000 crore," the forum said.