Rahul Gandhi has backed IDBI Bank employees opposing the Centre's proposed majority stake sale to Fairfax. His open letter questions the rationale and flags concerns for workers, depositors and reservation policies.Gandhi also expressed support for the employees' opposition to the proposed transaction, stating that he stood with them in their fight. (Credits: PTI)Congress leader and Lok Sabha Leader of Opposition Rahul Gandhi has extended his support to IDBI Bank employees opposing the Centre’s decision to sell its majority stake in the lender to Canada-based Fairfax Financial Holdings.In an open letter to the bank's employees, Gandhi questioned the government's decision to privatise a profitable public sector bank and raised concerns over the impact of the proposed sale on workers, depositors and reservation policies. (Credits: X/Rahul Gandhi) Recalling a meeting with a group of IDBI Bank employees at Parliament House in March last year, Gandhi said they had questioned why the government was selling a bank that they had helped make profitable."I took that question to the Lok Sabha.
I asked why a profitable public bank was being sold, and how its employees and depositors would be protected. The government gave no reason.
Now it has decided to sell IDBI Bank to Fairfax, a Canadian company," he wrote. Gandhi also referred to a 2003 assurance given by the government to Parliament that it would always retain at least 51 per cent ownership in IDBI Bank.- Ends