To
Hon’ble Smt. Droupadi Murmu
President of India
Rashtrapati Bhavan
New Delhi
Madam,
Subject: Urgent Appeal to Protect IDBI Bank from Privatisation
With deep anguish and grave concern, we approach you at this critical moment in our nation’s history. The Government’s decision to invite financial bids for the sale of IDBI Bank has shaken the conscience of millions of patriotic Indians. This move is not merely an administrative decision—it strikes at the very foundation of our economic sovereignty.
IDBI Bank is not a commercial commodity to be auctioned. It is a national institution built brick by brick with the sweat, sacrifice and savings of ordinary citizens. For decades, farmers, workers, small traders, pensioners and middle-class families have trusted this institution with their life savings. Selling IDBI is nothing less than selling the people’s trust.
This institution was conceived by Pandit Jawaharlal Nehru to strengthen India’s industrial backbone and fulfilled by Shri Lal Bahadur Shastri to serve the nation’s development goals. IDBI financed steel plants, power projects, MSMEs, and infrastructure that laid the foundation of modern India. It stood by the nation in times of crisis.
Today, when the slogan of Atmanirbhar Bharat echoes across the country, selling such a strategic institution appears self-contradictory and deeply distressing. A nation cannot become self-reliant by selling its crown jewels.
Madam, the losses faced by IDBI were not due to common depositors or employees, but largely due to wilful defaulters and corporate cronies who escaped accountability. Yet, despite this injustice, IDBI has shown an extraordinary turnaround in the last five years—posting profits and contributing to government revenues. At such a juncture, privatisation appears arbitrary and unjustified.
Strong Legal & Constitutional Concerns
Violation of Article 39(b) of the Constitution
The Directive Principles mandate that material resources of the community must be distributed to serve the common good. Public sector banks are strategic resources meant to serve society, not private profit.
Public Trust Doctrine
The Government holds public institutions in trust for citizens. Handing over a national bank to private entities violates this sacred trust.
Lack of Parliamentary Mandate
Such a historic decision impacting millions of citizens should be debated in Parliament. Executive action alone lacks democratic legitimacy.
Threat to Financial Inclusion
Private ownership will prioritise profit over service, endangering:
Rural banking
Priority sector lending
Support to MSMEs
Affordable credit for farmers and small traders
National Security Risk
Banks handle sensitive financial data and fund strategic sectors. Privatisation exposes the nation to systemic risk and foreign influence.
Madam, this is not a trade union issue. This is not a political issue.
This is an issue of national interest, economic justice and sovereignty.
IDBI Bank is the first public sector bank to be privatised. This dangerous precedent threatens the future of all public institutions. History will judge this moment—whether we protected our legacy or surrendered it.
Our Humble Appeal
As the guardian of the Constitution, we earnestly request your intervention. You are the last moral authority to protect public interest when executive decisions harm the nation.
We humbly request you to:
Withhold assent to any action leading to privatisation
Advise the Government to review this decision
Order a Parliamentary debate on this issue
We call upon every conscious citizen to raise their voice.
This is a patriotic struggle.
To defend public wealth.
To defend economic sovereignty.
To defend India’s future.
If you stand with us, kindly support this petition and sign in solidarity.
Jai Hind.
Long live the Constitution of India.

United Forum of IDBI Officers and Employees