A report by Business Today TV stated that the government has resolved all data room-related issues concerning IDBI Bank’s privatisation. This has cleared the way for the next stage of the transaction. A senior government official confirmed, “The IDBI Bank privatisation process is progressing smoothly. All data room issues have been addressed, and financial bids will be invited shortly.”
The due diligence process, which allowed potential bidders to review the bank’s financial data, was a crucial step in assessing the valuation and finalising bid amounts. Officials mentioned that there were some queries from interested bidders regarding the data room, but those concerns have now been resolved.
The process of privatising IDBI Bank began in January 2023 when the government issued an Expression of Interest (EOI). The Centre and Life Insurance Corporation of India (LIC) together plan to sell a 61% stake in the bank. This includes 30.48% held by the government and 30.24% held by LIC.
The government has set a target of raising ₹47,000 crore from disinvestment and asset monetisation in the Union Budget 2025-26. However, no specific amount has been earmarked for IDBI Bank’s sale.
With all data-related concerns now resolved, the IDBI Bank disinvestment process is moving closer to completion. The next key step will be the submission of financial bids, which
A lower court (single judge) had earlier ordered Vijaya Bank to refund ₹3 lakh to an employee who had resigned before completing his minimum service period. Vijaya Bank appealed against this order in the Karnataka High Court, arguing that the decision was incorrect. The High Court, after reviewing the case, overturned the lower court’s ruling and ruled in favor of the bank.
Abhimanyu Kumar, a chartered accountant, was selected as a Probationary Manager (Generalist) at Vijaya Bank and joined on November 2, 2011. As per the terms of his appointment, he was required to serve for at least three years. The agreement also included an indemnity bond stating that if he left before completing this period, he would have to pay ₹3 lakh to the bank.
In 2012, Kumar secured a job at the Steel Authority of India Ltd (SAIL) and decided to resign from Vijaya Bank. Since the bank did not waive the indemnity bond, he paid ₹3 lakh as per the agreement. Later, he filed a petition in court, claiming that he had been forced to sign the bond and that the bank should refund his money. He cited guidelines from the Department of Public Enterprises, arguing that these rules should apply to his case. The single judge accepted his argument and directed the bank to refund the amount.
The division bench of the High Court ruled that the single judge had made an error in allowing the refund. It clarified that public sector banks are governed by the Ministry of Finance, not the Ministry of Heavy Industries and Public Enterprises. The court stated that the guidelines cited by Kumar apply only to public sector enterprises, which have different employment policies. Since banks follow their own rules, the indemnity bond signed by the employee remained valid. As a result, the High Court reversed the lower court’s decision, confirming that Vijaya Bank was not required to refund the ₹3 lakh
The Confederation has been agitating since long in pursuant of genuine legitimate demands, unfortunately the Government’s attitude is stubborn and the demands remains unsettled, resulting in resentment amongst entirety of Central Government Employees.
National Executive Committee Meeting of Confederation held on 8th February, unanimously took a decision to Hold Gate Meetings/General Body Meetings at all work places at all stations on 10th/11th March, as an awareness program to popularize our demands amongst our rank and file, reach to each member and prepare them for all kinds of trade Union struggles in near future. The charter of Demands for the campaign/Awareness program are as under:
CHARTER OF DEMANDS:
1.lmmediatly set up Committee for 8th CPC, finalalise Terms of Reference Incorporating suggestions/views given by staff side NC-JCM.
2.Scrap NPS/UPS, Restore OPS for all Employees.
3.Release the three installments of DA/DAR frozen during Covid pandemic to Employees and Pensioners. Restoration of commuted part of pension after 12 years Instead of 15 years.
4.Remove 5% Ceiling imposed on Compassionate Appointment, grant Compassionate Appointment in all cases to wards/Dependants of Deceased employee.
5.Fill up vacant posts of all cadre in all the Departments, stop outsourcing and corporatization in Government Departments.
6.Ensure Democratic functioning of Association/Federations as per JCM mechanism
A) Grant recognition to Association/Federations which are pending, Withdraw the de recognition orders of AIPEU Gr •C UNION, NFPE and ISROSA.
B) Stop imposition of Rule 15 1 (C) on service Associations/Federations.
7.Regularise Casual, Contingent, Contractual labours and GDS employees, grant equal status to Employees of Autonomous Bodies to that of CG Employees.
The Confederation, requests to all the GS/SG of the affiliates of Confederation and the GS of State CoCs to kindly make all out efforts to reach out to each member, hold the gate Meetings on 10th/11th March, educate the members about the Demands, convince them to be prepared for future struggles in order to clinch our long pending genuine and legitimate Demands.
Comradely Yours,
(S.B. Yadav)
Secretary General
The United Forum of Bank Unions (UFBU), a group representing nine bank employee unions, has announced a 48-hour nationwide strike from midnight of March 23 to midnight of March 25, 2025. The strike is being called to push for their long-pending demands.
In response, the Ministry of Labour & Employment has intervened to resolve the matter. The Chief Labour Commissioner (CLC) has scheduled a conciliation meeting on March 18, 2025, at 11:30 AM at the Conference Room, Shramev Jayate Bhawan, Dwarka, New Delhi. Officials from the Department of Financial Services (DFS), representatives from Public Sector Banks, and members of UFBU have been invited to participate in the discussions.
The UFBU, which includes major bank unions like AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC, INBEF, NOBW, and NOBO, submitted a strike notice on March 5, 2025, under the Industrial Disputes (ID) Act, 1947. The unions are demanding better wages, improved pension benefits, new recruitment policies, and better working conditions for bank employees. They claim that these issues have not been addressed despite multiple attempts to negotiate with the authorities.
The United Forum of Bank Unions (UFBU), a group representing nine bank employee unions, has announced a 48-hour nationwide strike from midnight of March 23 to midnight of March 25, 2025.
In response, the Ministry of Labour & Employment has intervened to resolve the matter. The Chief Labour Commissioner (CLC) has scheduled a conciliation meeting on March 18, 2025, at 11:30 AM at the Conference Room, Shramev Jayate Bhawan, Dwarka, New Delhi.
The IBA has invited representatives from several major bank employee and officer organizations, including:
The meeting will focus on discussing pending issues that concern bank employees and officers. While the exact agenda has not been disclosed, such meetings typically address topics like salary revisions, working conditions, promotions, benefits, and policy changes affecting bank employees across India.
In the official communication, Gopal Murli Bhagat, Officiating Chief Executive of IBA, has requested all invited organizations to send their authorized representatives to attend the meeting. He also mentioned that the number of participants from each organization should be maintained as per past practices.
The IBA has also asked all invited organizations to confirm their participation by sending an acknowledgment along with the details of their representatives.
This meeting is expected to be crucial in addressing key concerns of bank employees and officers, as these discussions often play a role in shaping future policies in the banking sector.
At a time when discussions about long work hours, including the controversial 90-hour workweek, are making headlines, a recent survey by Randstad India has revealed a major shift in workplace expectations among Indian employees. According to the Randstad India Workmonitor 2025 survey, 52% of Indian employees would quit their jobs if they lacked sufficient flexibility—much higher than the global average of 31%.
The survey, released on Tuesday, also found that 60% of Indian employees would leave a job if they had a poor relationship with their manager. Additionally, 58% of workers have resigned due to a toxic work environment, compared to 44% globally. Another 53% (against 27% globally) have quit their jobs because they felt uncomfortable sharing their personal opinions at work.
Viswanath PS, Managing Director & CEO of Randstad India, emphasized that workplace flexibility is now a fundamental expectation across all generations. He stated, “The generational gap in workplace expectations is narrowing. Whether it’s Gen Z entering the workforce, millennials balancing career and personal life, or Gen X in leadership positions, flexibility is a must-have.”
He further noted that organizations must embed flexibility into work design rather than treating it as a bonus. He warned that businesses failing to adapt to these evolving expectations risk losing top talent to competitors offering more personalized and progressive work environments.
The survey highlighted that traditional factors like salary are no longer the primary motivators for Indian employees. Instead, factors such as a sense of belonging, learning opportunities, and flexible work arrangements are taking precedence.
The demand for flexible work schedules is significantly higher in India across all age groups compared to global trends.
Unlike in many global markets where hybrid work is widely accepted, India’s unique work culture, infrastructure limitations, and family responsibilities make flexibility not just an option, but a necessity, the survey concluded.
With employee priorities shifting, organizations must rethink their work policies to attract and retain talent. Companies that embrace flexible work models and invest in employee well-being and skill development will be better positioned for long-term success in India’s evolving job market.
YamNo5010, a Reddit user, shared a heartbreaking story about his manager, a hardworking and ambitious man who had dedicated himself entirely to his job. At just 35 years old, he had already climbed the corporate ladder, earning the respect of his colleagues and superiors. He was known for his impeccable attendance record, rarely taking a day off, and always pushing himself to meet company targets.
Despite his dedication, no one could have predicted that his commitment to work would cost him his life.
One Saturday, after a long and exhausting week, the manager went home as usual. He had been under immense pressure due to upcoming deadlines and had been working 12-hour shifts regularly. That night, he went to bed, unaware that it would be his last.
The next morning, he did not wake up. His family, realizing something was wrong, rushed him to the hospital. For the next few days, doctors tried to stabilize his condition, but despite their efforts, he succumbed to his illness. The sudden and tragic loss left his colleagues in shock.
Following his passing, many speculated about the cause of his death. Some pointed out that he consumed alcohol occasionally, but his professional demeanor never indicated excessive drinking. However, one factor stood out—extreme work pressure.
YamNo5010, who had worked closely with the manager, believed that stress played a significant role in his deteriorating health. He described the gruelling work culture within the organization, where employees were expected to work long hours without complaint.
Our work-life balance is terrible,” he wrote in his post. “People regularly work 12-hour shifts, especially during month-end tasks. The first week of every month, I always leave the office late, sometimes even on random days too.”
The manager’s final conversation with him revolved around achieving new targets set by the company’s chairman. He was committed to proving his worth, unaware that the constant pressure was pushing his body beyond its limits.
The Reddit post quickly went viral, resonating with thousands of professionals who had experienced similar workplace struggles. Many expressed frustration over India’s toxic corporate culture, where employees are often overburdened and undervalued.
“In the endless race for success, we forget that we have only one life,” one commenter wrote. “When you fall ill, grow old, or pass away, the company won’t care. Put yourself first.”
Another user criticized the blind glorification of corporate jobs, pointing out their harmful impact on mental and physical health.
“I never understand why we Indians glorify these toxic MNC jobs so much. Street vendors and farmers have far better mental health than corporate workers,” another user remarked.
The overwhelming response showed that this was not an isolated incident. Thousands of employees across the country are struggling under the weight of unrealistic expectations, sacrificing their health for companies that consider them replaceable.
The manager’s tragic story serves as a harsh reminder that no job is worth one’s life. As workplace stress continues to claim victims, it is crucial for companies to prioritize employee well-being over relentless productivity.
Experts emphasize the importance of:
If organizations fail to recognize the importance of mental and physical health, more tragic stories like this will emerge. The corporate world must shift its mindset and create a work environment where employees feel valued, supported, and respected.
The story of a 35-year-old manager who never woke up should serve as a lesson for both employees and employers—because, at the end of the day, no deadline, no target, and no promotion is worth a human life.
