The nationwide bank strike that was set to shut many bank branches from Monday, September 28 to Wednesday, September 30, 2026 has been deferred. The United Forum of Bank Unions (UFBU), the umbrella body of bank employee and officer unions, took the decision late on Sunday, September 27, after a meeting with the Indian Banks' Association (IBA) that began at 9:30 pm.
For customers, this means bank branches are open and working normally on the days that were earlier expected to be lost to the strike.
What was planned
The UFBU had called a three-day strike from September 28 to 30. Because it came right after the weekend holidays of September 26 and 27, customers of public sector banks faced the prospect of branches being unavailable for normal work for five days in a row.
To reduce the impact, the Ministry of Finance announced on September 23 that all public sector banks and regional rural banks would work on Sunday, September 27. According to the government's press release, the Reserve Bank of India approved keeping all bank branches, offices, ATM-link branches and currency chests fully operational that Sunday. The government and bank managements also appealed to the unions to defer the strike.
What the unions and IBA agreed
According to the UFBU circular issued on September 27, as reported by ANI and Business Today:
- Saturday holidays: a high-level committee of the IBA and the UFBU will be formed immediately to discuss the unions' demand to declare the remaining Saturdays as bank holidays, and to explore alternatives acceptable to all stakeholders and customers. Banks are at present closed on the second and fourth Saturdays of each month.
- Incentive scheme for senior officers: on the Performance Linked Incentive (PLI) scheme for officers in Scale IV and above, discussions can begin with the IBA proposing changes to the government to address the unions' objections.
- Pending issues: issues left over from the minutes of March 8, 2024 will also be taken up for early resolution.
The circular said that, in view of these points, the UFBU agreed to defer its planned agitation and strike.
What it means for you
- Branches are working normally. Cash deposits and withdrawals at the counter, cheque clearing and other branch services are available as usual.
- Digital banking is unaffected. UPI, net banking, mobile banking and ATMs continue as usual.
- The strike is deferred, not cancelled. The unions' main demand - a five-day banking week with all Saturdays off - is still under discussion. If talks in the new committee fail, the unions could announce fresh protests, and a new strike notice would normally be announced in advance.
Background
Bank unions have been asking for a five-day week for several years, and the Finance Ministry had said before the strike date that the demand was still being examined. The IBA represents bank managements in these talks, and a change to bank working days would also need the approval of the government. The new committee is the next step; no date has been announced for its first meeting.
