NEW DELHI, December 12, 2025: Bank unions in India are opposing the foreign takeover of banks in the country. The unions blame the government of encouraging foreign investors to make investments in Indian private banks, which have huge deposits from common people. The unions are also working for employees issues to be solved.
Private bank employees organised a a Dharna (sit-in protest) at Jantar Mantar, near Parliament Street, New Delhi on 1oth October, 2025, in which a large number of employees took part. The main demand being to stop the takeover of Indian private banks by foreign entities and their nationalisation.
In india, there are 21 private banks, with deposits of around Rs. 85 lac crores, says a media release of the All India Bank Employees Association (AIBEA), the biggest union of bank employees in the country.
The AIBEA media release reveals – Catholic Syrian Bank / CSB Bank has been taken over by Fairfax investment from Canada, Lakshmi Vilas Bank Sold to DBS Bank of Singapore, Japan’s Sumitomo Mitsui Banking Corp (SMBC) has been allowed to invest Rs. 13,500 crores in Yes Bank and has become the largest shareholder of this bank, In Ratnakar Bank / RBL Bank Emirates NBD from Dubai is investing Rs. 26,000 crores and will become the major and controlling shareholder, Federal Bank New York based Blackstone is investing Rs. 6200 crores to acquire 10% of share capital, IDFC Bank USA based Warburg Pincus has purchased 10% of the share capital. Warburg Pincus and Abu Dhabi Investment Authority/ADIA have invested Rs. 7500 crores in this bank.
The unions allege that in the private banks, recruitment of permanent employees is avoided. Private banks resort to Cost to Company employees on contract basis. Job security is absent. Working hours are absent. There is huge exploitation.
Many of these private banks, the AIBEA says, do not implement wage revision, there is no job security and refuse pensions.
