Report by Kamgar Ekta Committee (KEC) correspondent
Hundreds of IDBI Bank officers and employees from all over the country held dharna at Janta Mantar, New Delhi on 3 August 2026 to oppose the privatisation of the IDBI Bank.
The Central Government has been pursuing the privatisation of the IDBI Bank for years despite the opposition of its bank employees and officers. The financial bids received in March 2026 from two bidders, Fairfax Financial Holdings Ltd. and Emirates NBD were reportedly less than the minimum price decided by the government. It was announced that the privatisation of the IDBI Bank has been called off.
It is now reported that the privatisation of the IDBI bank is again being pursued by reducing the minimum price by around 20% to make it more attractive for buyers.
This is not the first time that government is reducing the minimum price to make it more attractive for capitalists to purchase a public sector enterprise. This was done repeatedly in case of Air India till the terms of privatisation were made what capitalists wanted. The same may happen in the case of the IDBI Bank. The IDBI Bank share price has fallen significantly since March 2026.
The privatisation is carried out for the benefit of capitalists at the cost of workers and consumers is once again established by the way the government is pursuing the privatisation of the IDBI Bank. They dictate terms at which the privatisation is acceptable to them.
Only united opposition by workers can succeed in successfully opposing anti-worker, anti-people privatisation.
