The United Forum of IDBI Officers & Employees has expressed “serious concern” over the Centre’s reported move to go ahead with the strategic disinvestment of its controlling stake in IDBI Bank in favour of Fairfax Financial Holdings, subject to necessary regulatory and statutory approvals. The forum has also called for a parliamentary review of the proposed stake sale.
The forum urged the government to place the full details of the strategic disinvestment in the public domain without delay, reassess the decision considering India’s “long-term financial and economic interests”, honour commitments made before Parliament during the bank’s restructuring, and ensure a proper parliamentary debate before taking any final and irreversible step.
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