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AIBOA Urges President to Stop IDBI Bank Divestment Over Assurance Breach

IDBI Bank logoIDBI Bank
Sig4.35Sen-3.05Env0.00Soc-1.25Gov-2.85

AIBOA asked the President to intervene in the plan to sell a 30% stake in IDBI Bank, along with an equal stake held by LIC, to a foreign investor. The union argues the decision contradicts Centre assurances in Parliament to retain at least 51% equity, would dilute public ownership, and cites concerns over LIC’s 2019 purchase price and the bank’s underlying asset position.

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