IDBI Bank services to be affected by two-day strike on Nov 2-3; Here’s what the lender said

Customers of IDBI Bank may face disruption in branch banking services on November 2 and 3 as employees and officers have called a two-day nationwide strike to protest against the proposed privatisation of the lender.

The bank has advised customers to complete important banking transactions in advance and make alternative arrangements for cash requirements during the strike period.

What IDBI customers need to know

In a customer advisory, IDBI Bank said it would endeavour to maintain normal banking operations but cautioned that the proposed strike may cause inconvenience.

Customers have been advised to use ATMs, banking correspondent services, customer service points (CSPs) and Sameep outlets for their banking needs.

Digital banking services, including internet banking, the Go Mobile+ application and UPI, will remain operational during the strike, the bank said.

Customers needing cash can also withdraw money from other banks' ATMs without any charges on November 2 and 3, it added.

Why IDBI employees are protesting

The strike has been called by IDBI Bank employees and officers opposing the government's proposed sale of a 60.72% stake in the bank to Canada's Fairfax Financial Holdings.

Fairfax will be the strategic buyer of the government's 30.48% stake, valued at about ₹26,620 crore, and the 30.24% stake held by LIC, valued at about ₹26,440 crore.

The strategic transaction of IDBI Bank is expected to be completed by the end of the current financial year, subject to regulatory clearance from the Reserve Bank of India (RBI).

The United Forum of Bank Unions (UFBU), an umbrella body of nine bank employee organisations, has also extended support to the IDBI Bank employees' agitation.

In a circular dated October 31, UFBU called on its members to wear badges on November 2 in solidarity with IDBI Bank employees and officers.

The unions said the proposed sale would result in the bank, currently predominantly owned by the government and LIC, becoming a foreign-controlled lender.

They also cited the assurance given by the then Finance Minister Jaswant Singh in Parliament in December 2003 that the government would retain at least 51% controlling stake in IDBI.

"Today, this solemn assurance is thrown to the wind," the forum said. "From UFBU we have already expressed our support to their struggle. As a solidarity programme, on the day of their strike, on 2-11-2026, we call upon all our members to observe Badge Wearing programme."