There is relief for millions of bank customers as the proposed three-day nationwide bank strike scheduled from September 28 to September 30 has been deferred. The decision was taken after a late-night meeting between the Indian Banks’ Association (IBA) and the United Forum of Bank Unions (UFBU) on Sunday, September 27. The development means bank branches are expected to operate normally from Monday, September 28, instead of remaining affected by the proposed strike. The strike was linked mainly to the long-pending demand for a five-day banking week and several other issues raised by bank employees and officers. The latest development came just hours before the planned strike was due to begin, bringing immediate relief to customers who had been preparing for possible disruption to branch-based banking services.

Why Was the Bank Strike Deferred?

The decision followed discussions between IBA representatives and the UFBU at a meeting held on the night of September 27. During the meeting, both sides agreed to continue discussions on the major issues raised by the banking unions. A key part of the understanding is the formation of a high-level committee comprising representatives of the IBA and UFBU. The committee will examine the demand concerning holidays on Saturdays and consider different options before further discussions with the relevant stakeholders. Following the understanding reached during the meeting, the UFBU agreed to defer the proposed agitation and strike programme. Importantly, the move is being described as a deferment, rather than a permanent cancellation of the unions' demands.

Are Banks Open Today?

Yes. The proposed strike for September 28 to 30 has been deferred, so bank branches are expected to remain open on Monday, September 28. Customers who had postponed branch visits because of the expected strike can therefore approach their respective branches for regular banking work. However, customers should still check their individual branch timings and any local arrangements before visiting. The latest development also means that the possibility of a prolonged disruption following the weekend has been avoided for now. Before the deferment, customers were facing the possibility of branch-related disruption around the September 26-30 period because the proposed strike followed a weekend.

What Was the Main Demand of Bank Unions?

The biggest issue behind the proposed strike has been the demand for five day banking. At present, banks generally remain closed on the second and fourth Saturdays of the month, apart from Sundays and other declared holidays. Bank unions have been seeking a system under which all Saturdays would also become holidays, effectively creating a five-day working week for banks. The demand is connected with the wage settlement and discussions between bank unions and the IBA. The unions have argued that the five-day arrangement should be implemented after having been discussed as part of the broader agreement reached in 2024. The issue, however, has remained pending, leading to repeated discussions, protests and strike calls by banking unions.

What Will the New Committee Discuss?

The newly proposed high-level committee will primarily examine the issue of declaring the remaining Saturdays as holidays. According to the understanding reached between the two sides, the committee will study possible alternatives and consult stakeholders before working towards a solution. The objective will be to examine the impact of any change on bank employees, customers and banking operations. This is significant because changing the existing working-day structure involves more than simply declaring additional holidays. Banking hours, customer service requirements and operational arrangements would also need to be considered. For customers, any future change could eventually alter the pattern of branch closures during weekends. 

What Happened to the PLI Dispute?

Apart from the five-day working week, bank unions have also raised concerns over the Performance Linked Incentive scheme for senior officers. The latest IBA-UFBU understanding includes further discussions on the PLI scheme for officers in Scale IV and above. The discussions could result in proposed modifications, which may subsequently be taken up with the government. This issue had been one of the other major points of disagreement between the unions and the banking authorities. The unions had previously raised objections to aspects of the revised incentive structure and sought further discussions on the matter.

What About SBI and Other Major Banks?

Customers of major public sector banks, including SBI bank, had earlier been advised to complete important branch-related transactions before the proposed strike because of the possibility of disruption. With the strike now deferred, branches are expected to function normally on September 28. Customers can therefore resume planned branch visits, although normal bank holidays and individual branch schedules will continue to apply. Before the deferment, banks including SBI and other public sector lenders had prepared customers for possible disruption and encouraged the use of digital channels, ATMs and other available banking facilities for routine transactions.

What Banking Services Could Have Been Affected?

Had the strike gone ahead, services requiring direct assistance from bank employees could have faced disruption. These could include certain branch transactions, cash-related services, documentation work and other activities requiring staff intervention. Digital banking services such as mobile banking, internet banking and UPI generally operate separately from physical branch staffing, although individual services can sometimes be affected by technical issues or maintenance. The earlier strike preparations were therefore focused particularly on branch-dependent work. Customers with urgent documentation, deposits, withdrawals or other staff-assisted requirements were advised to plan ahead.

Why the Latest Update Matters for Customers

The latest development is important because the proposed three-day strike was scheduled at the end of September, a period when many customers may have needed to visit branches for routine financial work. The proposed action was also expected to coincide with the half-yearly closing of banks on September 30, making the timing particularly significant for the banking sector. With the strike deferred, customers now have greater access to physical branches during the affected dates. Businesses and individuals who had changed their plans because of the proposed closure can also reassess their schedules. However, customers should remember that bank holidays unrelated to the strike will continue according to the applicable holiday calendar.

What Happens Next?

The latest agreement does not mean that all differences between the banking unions and the IBA have been resolved. Instead, several issues will now move into further discussions. The proposed committee will examine the Saturday holiday demand, while the PLI issue and other pending matters will also be discussed. The UFBU's decision to defer the strike provides additional time for both sides to negotiate. The outcome of these discussions will determine what happens next regarding the five-day working week and other demands. For now, however, the immediate question for customers has a clear answer: the September 28-30 strike has been deferred and banks are expected to remain open as normal today.

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Are banks open today, September 28, 2026?

Yes. The proposed three-day nationwide strike has been deferred, so bank branches are expected to remain open today.

Was the three-day bank strike cancelled?

The strike has been deferred, not permanently cancelled. Further discussions between the IBA and UFBU are expected.

Why were bank employees planning a strike?

The major demand was implementation of a five-day banking week, along with issues concerning the PLI scheme and other pending matters.

Will all Saturdays become holidays?

No immediate change has been announced. A high-level committee will examine the demand for declaring the remaining Saturdays as holidays.