Officers and employees of IDBI Bank will hold a one-day nationwide hunger strike on July 27 to protest the proposed privatisation of the lender. The protest has been called by the United Forum of IDBI Officers and Employees, which has raised concerns over job security, social security benefits, reservation policies, public accountability and the future of the bank’s developmental role.
Employees cite bank’s six-year turnaround
“Privatisation impacts every employee, sooner or later. Job security, service conditions and employee rights are all at stake,” IDBI Bank Officer’s Association-BIHAR & JHARKHAND said in a post on X, announcing nationwide strike on July 27.
The Financial Express Online reached out to IDBI Bank for a comment. The report will be updated once the response comes in.
Concerns over future of 884 differently-abled employees
The forum has also expressed concern over the future of 884 differently-abled employees working at the bank, The Hindu BusinessLine reported. Currently, IDBI Bank has 3,070 Scheduled Caste employees, 1,214 Scheduled Tribe employees, 5,604 Other Backward Class employees and 805 employees belonging to the Economically Weaker Sections, the report said.
IDBI Bank Q1
On Saturday, IDBI Bank reported a 5% rise in net profit at Rs 2,115 crore for the first quarter of the current financial year. The LIC-controlled bank had earned a net profit of Rs 2,007 crore in the same quarter of the previous fiscal year.
According to news agency PTI, the total income rose to Rs 8,573 crore during the June quarter of 2026-27, from Rs 8,458 crore a year ago, IDBI Bank said in a regulatory filing.
Interest earned by the bank improved to Rs 7,541 crore, as compared to Rs 7,021 crore in the June quarter of FY26. Net Interest Income (NII) also increased to Rs 3,486 crore in the quarter, against Rs 3,166 crore in Q1 of the previous year, an increase of 10%.
However, a year ago, the bank’s operating profit declined to Rs 2,168 crore, from Rs 2,354 crore.