pfr For sh and bash, yes, because either
a) bind doesn't work outside ~/.editrc (sh), or
b) the syntax (above) isn't correct (bash).
What you've done'll work for ksh--at least, for TERM=xterm or similar. Try it on the console where TERM=wsvt25 and it'll flop because the keys chars. produced are very different.
Even worse, from reading the man-page, it doesn't look like you can use some keys at all because ksh's line-editing "feature" is just rubbish.