IDBI Bank has officially notified stock exchanges about receiving a strike notice from major banking unions scheduled for February 12, 2026. The communication, dated February 10, 2026, was sent to both BSE Ltd. and National Stock Exchange of India Ltd. in compliance with regulatory requirements.

Strike Notice Details

The bank received the strike notice from three prominent banking unions working in coordination to press their demands:

These unions represent a significant portion of the banking workforce across India and have collectively called for the strike action on February 12, 2026.

Regulatory Compliance

IDBI Bank has fulfilled its disclosure obligations by informing the stock exchanges about this development. The notification was made under Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Jyothi Biju Nair signed the official communication on February 10, 2026.

Potential Impact

The coordinated strike action by multiple banking unions could potentially affect IDBI Bank's operations and customer services on the scheduled date. Bank strikes typically impact various banking services including:

• Branch operations and customer service counters
• ATM cash replenishment and maintenance
• Digital banking support services
• Loan processing and administrative functions

The bank's proactive disclosure ensures that stakeholders, including customers and investors, are informed about the potential service disruption well in advance of the strike date.

Two prominent financial institutions are set to submit their financial proposals for acquiring a majority stake in IDBI Bank today, marking a crucial milestone in the bank's privatization process.

Bidding Process Advances

Fairfax and Kotak Mahindra Bank are scheduled to submit their separate financial bids along with comprehensive supporting documents today. This development represents a significant step forward in the competitive acquisition process for the public sector bank.

Privatization Initiative

The submission of financial bids by both entities demonstrates the progress in the government's divestment strategy for IDBI Bank. Both Fairfax and Kotak Mahindra Bank are positioning themselves as potential acquirers of the majority stake in the bank.

Next Steps

With the financial bids and supporting documentation being submitted today, the privatization process for IDBI Bank continues to move forward. The evaluation of these proposals will be crucial in determining the future ownership structure of the bank.