Full Breakdown
Nationwide Bank Strike Set for Late September 2026
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The Planned Three-Day Strike and Pre-emptive Sunday Opening
The United Forum of Bank Unions (UFBU) has announced a three-day nationwide strike for September 28-30, 2026. The Ministry of Finance said on September 23 that all public-sector banks (PSBs) and regional rural banks (RRBs) will remain open on Sunday, September 27.
Background and Union Demands
UFBU is pressing several long-standing demands:
- Five-day banking week – Saturdays would become holidays nationwide.
- Pension reforms – an updated pension scheme, a uniform dearness-allowance formula for all retirees, and the option for NPS participants to revert to the Old Pension Scheme.
- Performance-Linked Incentive (PLI) scheme – the unions allege the revised PLI formula issued on August 21 was imposed unilaterally.
The strike follows a one-day action on September 11 that also failed to resolve the five-day-week demand. A conciliation meeting on September 22 with the Department of Financial Services (DFS), the Indian Banks’ Association (IBA) and bank management ended without a settlement, prompting UFBU to reaffirm the September 28-30 strike.
Timeline of Key Developments
| Date | Event |
|---|---|
| August 21 | DFS issues revised PLI directive, triggering union protest. |
| September 11 | First-day strike by UFBU over five-day-week demand. |
| September 21 | Finance Ministry appeals to PSB and RRB employees to refrain from striking. |
| September 22 | Conciliation meeting; DFS says five-day-week issue under consideration. |
| September 23 | Ministry announces Sunday, September 27, will remain open for PSBs and RRBs. |
| September 26 | Fourth Saturday holiday; banks already closed. |
| September 27 | PSBs and RRBs operate normally; RBI grants operational approval. |
| September 28-30 | UFBU three-day strike; coincides with banks’ half-yearly closing on September 30. |
| September 25 | Central-government salaries and pensions to be processed in advance. |
| October 26 | UFBU threatens an indefinite strike if demands remain unmet. |
Expected Service Disruptions
Because the strike begins after the weekend holidays of September 26-27, many branches could be unavailable for five consecutive days (September 26-30). Services that typically require physical presence—cash deposits and withdrawals, cheque clearance, demand-draft issuance and locker access—are expected to face delays.
Digital channels (mobile banking, internet banking, UPI, ATMs and ADWMs) are projected to remain functional throughout the strike. The State Bank of India (SBI) and Bank of India have advised customers to complete essential transactions in advance and to rely on these electronic avenues.
Official Statements & Responses
- Reserve Bank of India – Granted approval for all bank branches, offices, ATM-linked branches and currency chests to stay fully operational on September 27.
- UFBU (post-September 22 meeting) – Stated that “there was no positive response” to its five-day-banking demand and that the strike will proceed unless concrete progress is achieved.
Criticism & Opposition
The unions contend that the revised PLI scheme violates the status-quo while the dispute is before the Chief Labour Commissioner.
Customer Guidance
Public-sector banks have issued advisories urging customers to:
- Complete branch-dependent transactions before September 26.
- Use digital platforms—mobile apps, internet banking, UPI, ATMs and Business Correspondent points—for routine needs during the strike.
- Expect possible delays in cheque clearance and over-the-counter cash withdrawals.
The Department of Expenditure announced that salaries and pensions due at month-end will be processed on September 25, with adjustments to follow in October.
Conflicting Reports & Gaps
Sources differ on the extent to which private banks will be affected. No definitive data on private-bank participation is provided.