Report by Kamgar Ekta Committee (KEC) correspondent
On 24 and 25 August 2025, leaders and delegates of private sector bank unions participated in a national convention in Aluva, Kerala, organized by the All India Private Sector Bank Unions’ Cell of the All India Bank Employees’ Association (AIBEA). The convention adopted the Aluva Declaration, calling for the nationalization of private sector banks.
This is a just demand. Private sector banks hold common people’s deposits, and people’s money should be used for people’s welfare. No private entity should be allowed to make profits from our money. Bank workers must unite with consumers and workers of all sectors to fight to establish public control over public wealth!
At the convention, Com. CH Venkatachalam (General Secretary, AIBEA) highlighted that both public and private sector banks are facing challenges today. The government is rapidly taking steps to increase the presence of private players—whether domestic or foreign—in banking. For example, Singapore’s DBS Bank was allowed to takeover Lakshmi Vilas Bank, Canada’s Fairfax has made major capital investments in CSB Bank, RBI allowed the Japanese Sumitomo Mitsui Banking Corporation to inject Rs. 16,000 crore into Yes Bank, and now the government is planning to sell IDBI to foreign entities. The privatisation of Nainital Bank has also been attempted.
Moreover, attacks on members of private sector bank unions are increasing, as seen in the case of Federal Bank. Other attacks on workers also persist: instead of recruiting regular permanent workers, private banks are employing C2C and contract officers. Com. Venkatachalam called for the nationalization of private sector banks. Com. BS Rambabu (Secretary, AIBEA) emphasized that union members cannot stay away from the politics of the working class, which is to fight for our legitimate demands and defend our rights. Thirty-one delegates from different unions spoke at the meeting and shared suggestions.
The convention adopted the following resolutions:
- Demanding nationalization of all private banks
- Demanding adequate recruitment of regular clerical and substaff cadre in all banks
- Demanding reversal of victimisations in Federal Bank
- Demanding early wage revision in CSB Bank
- Opposing government’s decision to sell IDBI Bank to some private/foreign investor
- Demanding release of ex-gratia to pensioners on the lines of the 12th BPS scheme
The convention adopted the Aluva Declaration, resolving to oppose all attacks with unity and strength. The unions declared the following demands:
- Nationalise all private banks
- Adequate recruitment of regular clerical and substaff cadre
- Reverse victimisations in Federal Bank
- Early wage revision in CSB Bank
- Extend ex-gratia to pensioners in all private banks
- Do not sell Nainital Bank. Merge it with Bank of Baroda
- Extend retirement age up to 60 in Tamilnad Mercantile Bank
- Convert all C2C employees to regular employees
- CBDT exempted pension fund in private banks
The convention has also declared a detailed action programme. In December 2025, state federations will organize demonstrations and dharnas. On 10 December, a massive dharna will be organized before the parliament.
