The proposed privatisation of IDBI Bank has raised questions about the value of public sector banks and the protection of their assets. The move has also drawn attention to concerns raised by bank employees and their representatives.
BRS working president KT Rama Rao (KTR) questioned the Union government’s decision to sell the bank to a private company. He asked why the government was rushing the process and demanded transparency in the bank’s valuation.
KTR also pointed to IDBI Bank’s valuable properties, including prime land in Hyderabad. He questioned whether these assets had been properly valued before the proposed sale.
He further raised concerns over reports of undervaluation and changes to the rules and valuation methods after bids fell below the reserve price.
Meanwhile, the All India IDBI Officers Association urged KTR to intervene and seek a review of the sale. It also expressed concerns about employees’ job security, reservation safeguards and the interests of customers.
The association argued that selling a profitable bank at a low value could affect the country’s wider financial interests.
