The Ministry of Finance has ordered public sector and regional rural banks to remain open on Sunday, September 27, to ensure service continuity. This directive comes as bank unions prepare for a three-day nationwide strike starting September 28, which may disrupt banking services and critical half-yearly financial operations.
The Ministry of Finance has directed all public sector banks and regional rural banks to remain operational this Sunday, September 27, 2026. This administrative order is a precautionary measure to minimize potential service disruptions caused by a planned three-day nationwide strike. The United Forum of Bank Unions (UFBU) is set to lead this industrial action, with work expected to remain suspended across participating institutions from September 28 through September 30.
The strike is driven by several long-standing demands from banking employees. A primary focus is the implementation of a five-day work week. Additionally, unions are calling for revisions to pension benefits, standardization of dearness allowances for retirees, and a transition for employees currently under the National Pension System to return to the older pension structure. While the government has agreed to pause the implementation of the Performance Linked Incentive scheme for further review, the core requests regarding working hours and retirement benefits remain unresolved, leading to this planned demonstration.
The timing of the strike is particularly sensitive for the financial sector as it coincides with the half-yearly closing on September 30. This period is vital for banks to complete essential tasks, including account reconciliation, treasury management, and comprehensive financial reviews. To mitigate the risk of these critical processes being stalled, the Reserve Bank of India has authorized the operation of bank branches, administrative offices, and currency chests during the weekend.
For customers, the strike likely means that regular branch-based transactions will be unavailable from Monday to Wednesday. While digital and mobile banking channels are expected to remain accessible, physical banking services could face significant delays. Investors and customers alike should be prepared for potential service limitations. The next major update to monitor will be the outcome of any further negotiations between union representatives and government authorities, as these talks will determine whether the strike continues as scheduled or if a resolution is reached.