If you bank with IDBI Bank, today needs a little planning. More than 10,000 of the bank’s employees and officers have begun a nationwide two-day strike on Monday, 2 November, which runs through Tuesday, 3 November. Branch counters could slow down or stop in places, but the bank says its digital services will keep running, so most day-to-day banking should still be possible from your phone.
The strike has been called by the United Forum of IDBI Officers and Employees, which brings together the bank’s officers’ association and its employees’ association. Its demand is direct: cancel the proposed privatisation of IDBI Bank and withdraw the plan to sell a controlling stake to Canada’s Fairfax Financial Holdings.
Why are IDBI Bank employees striking?
The immediate trigger is a Cabinet decision taken on 14 October 2026. The Cabinet Committee on Economic Affairs approved 10955230 Canada Inc, the parent entity of Fairfax Financial Holdings, as the strategic buyer of an aggregate 60.72 percent stake in IDBI Bank. That stake is made up of 30.48 percent held by the government and 30.24 percent held by LIC. Reports have put the value of the deal at around Rs 52,878 crore.
The unions argue that IDBI Bank’s turnaround was built on public investment and the work of its own staff, not on private ownership. They have questioned the valuation of the bank and raised concerns about transparency in the sale process, and they want the whole disinvestment process scrapped. Central trade unions have backed the protest and demanded parliamentary scrutiny of the deal, along with a suspension of the process pending an independent investigation.
Union leaders have also alleged that employees were threatened with punitive action for taking part in the protest, and that a conciliation meeting fixed for Sunday, 1 November, was deferred to 10 November. The bank itself, in its public advisory, has not gone into the reasons for the strike. It has simply said it received a strike notice for 2 and 3 November and warned customers of possible disruption.
What will work, and what may not
First, the important part: the bank has not said every branch will shut. The impact is expected to vary from branch to branch, depending on how many employees join the strike. Here is how things stand, based on the bank’s customer advisory issued on 31 October.
Services expected to keep working:
- UPI payments for eligible transactions
- Go Mobile+ mobile banking app
- Internet banking
- ATM cash withdrawals
- Customer Service Points
- Cash withdrawals from non-IDBI Bank ATMs, free of charge on 2 and 3 November
Services that may be disrupted:
- Branch counter work, including cash deposits and withdrawals at the counter
- Cheque and demand draft services
- Document submission and account-related help that needs a branch visit
- Any work that depends on branch staff being present
In short, if your work can be done on the app or at an ATM, you should be fine. If it needs a person behind a branch counter, do not leave it to chance.
What customers should do today
A little preparation will save a wasted trip. If you have branch work pending, try to finish it through digital channels where possible, or check with your local branch before heading out. Keep some cash handy, since ATM availability can vary by location even when the machines themselves are working. And be careful with messages: fraudsters often use strike news to send fake advisory links, so trust only IDBI Bank’s website, app and verified social media accounts for updates.
What happens next
The strike is scheduled to end after Tuesday, 3 November. What happens after that will depend on talks between the unions, the bank management and the government. Union leaders have pointed to a conciliation meeting on 10 November as the next formal step, while reports say the government has maintained that employee terms will be safeguarded in the sale.
For IDBI Bank account holders, the message for today is simple: use digital banking where you can, avoid non-urgent branch visits, and keep an eye on the bank’s official updates through the day.
FAQs
Is IDBI Bank closed on 2 and 3 November?
Not entirely. Employees are on a two-day strike, so branch services may be disrupted, but the bank says digital channels, ATMs and Customer Service Points will remain operational.
Will UPI and mobile banking work during the strike?
Yes, according to the bank’s advisory. UPI, the Go Mobile+ app and internet banking are expected to stay operational on both days.
Are ATM withdrawals from other banks really free during the strike?
Yes. IDBI Bank has said cash withdrawals from non-IDBI Bank ATMs will be free of charge on 2 and 3 November.
Why are IDBI Bank employees on strike?
They are protesting the proposed sale of a 60.72 percent stake in the bank to Fairfax Financial Holdings, approved by the Cabinet on 14 October 2026, and are demanding that the privatisation plan be withdrawn.
How long will the strike last?
The strike is scheduled for two days, Monday, 2 November and Tuesday, 3 November 2026. Any change will depend on talks, and the bank has asked customers to follow its official updates.
Customers should check IDBI Bank’s official website or app for the latest updates before visiting a branch.
