Leader of the Opposition in Lok Sabha Rahul Gandhi has backed IDBI Bank employees opposing its proposed sale to Canadian company Fairfax, accusing the Narendra Modi government of putting a public institution built with taxpayers’ money on the block and weakening protections for its employees.In a letter addressed to members of the IDBI Bank family, Gandhi said the government had failed to explain why a profitable public bank was being sold and how the interests of its employees and depositors would be protected.He said the bank had earned a profit of more than Rs 9,000 crore last year, after years of financial difficulty, and questioned the decision to privatise it.“During Congress’s time, IDBI was established to build the nation’s industry. During Modi’s time, first the bidding was seen, then the price was set. During Congress’s time, banks were being created. During Modi’s time, they are being sold. I stand with the employees of IDBI Bank,” Gandhi said in a post on X on Friday.In his letter, Gandhi recalled that employees had met him in Parliament House in March last year and asked why the government was selling a profitable bank and how their interests would be protected. He said he had raised the issue in the Lok Sabha but the government had given no reason for the decision.Gandhi said IDBI had begun as a pioneering development bank and faced difficulties in its transition into a commercial bank. However, he pointed to its return to profitability, saying the turnaround was the result of employees’ work.He also questioned the proposed reduction in government ownership. Gandhi said the government and the Life Insurance Corporation (LIC) currently owned 95 per cent of the bank, but their combined holding would fall to 34 per cent after the sale.Referring to the government’s 2003 assurance in Parliament that it would retain at least 51 per cent of IDBI, he said a commitment made to Parliament was also a commitment to the people of India.Gandhi further warned that employees could lose protections relating to reservation for Scheduled Castes, Scheduled Tribes and Other Backward Classes after privatisation. He also said their service conditions, which had already weakened, would lose their remaining protection.“The Congress has always believed in a strong public sector working alongside the private sector. Public banks are not assets to be sold off, they are tools to build the nation,” he said in the letter.Gandhi said he supported the employees’ demands and urged them to remain united and determined.