What will happen to IDBI Bank's staff pension benefits post-privatisation?

The government has approved the sale of a 60.72% stake in IDBI Bank to Canada-based Fairfax Financial Holdings for about ₹52,878 crore. DIPAM Secretary Arunish Chawla said the share purchase agreement fully protects the service conditions of all existing IDBI Bank employees. He added that the pension benefits of all existing pensioners are also fully protected.