Voices are rising within IDBI Bank as employees and officers urge the government to protect depositors, small borrowers, and employees.
The All India IDBI Officers’ Association (AIIDBIOA) has formally requested that IDBI Bank be merged with a public sector bank instead of being sold to private or foreign investors.
In a letter to Finance Minister Nirmala Sitharaman, the association stressed that the proposed sale could harm the interests of depositors, MSME borrowers, and over 20,000 bank employees.
They called on the government to prioritize national interest in this decision.
Protests and Past Appeals
The AIIDBIOA has previously raised these concerns with the Managing Director and CEO of IDBI Bank and the Department of Financial Services in the Finance Ministry.
The association has also staged protests, expressing strong opposition to the privatization of IDBI Bank.
Their demands include job security, better service conditions, and protection of small borrowers in the bank’s ecosystem.
Why the Merger is Preferred
According to the AIIDBIOA, merging with another public sector bank would safeguard:
Depositors’ interests
MSME and small borrower access to banking services
Employment and benefits of over 20,000 bank employees
The association believes that selling the bank to private or foreign investors could compromise these key areas, affecting both the financial security of customers and the livelihoods of employees.
Summary
The All India IDBI Officers’ Association is actively opposing the privatization of IDBI Bank.
They have requested the Finance Minister to consider a merger with a public sector bank to protect depositors, MSMEs, and employees.
Through letters and protests, the association emphasizes national interest, job security, and safeguarding small borrowers in the banking system.
