Rahul Gandhi backs IDBI Bank staff, questions sale to Canadian firm

Rahul Gandhi has expressed solidarity with IDBI Bank employees and questioned the government's decision to sell its 60.72% stake in the profitable public bank to the Canadian firm Fairfax. The Leader of Opposition in the Lok Sabha stated that public banks are tools for nation-building rather than assets to be sold off.

According to the Free Press Journal, Gandhi addressed a letter to members of the IDBI Bank family, noting that employees had previously questioned why a bank they made profitable was being sold. He raised concerns in the Lok Sabha regarding how employees and depositors would be protected, asserting that the government provided no reason for the sale.

Hindustan Times reported that Gandhi warned the sale could result in the end of protections and reservations for employees. NDTV - India News confirmed his opposition to the decision to sell the bank to the Canadian company.

Brief written by urgent.news from Hindustan Times, NDTV - India News, Free Press Journal — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.