September 26, 2026 – Public sector banks and several old-generation private sector banks have issued urgent advisories to their customers, urging them to complete all essential banking transactions well in advance to avoid potential inconvenience during a proposed three-day nationwide strike. Called by the United Forum of Bank Unions (UFBU)—an umbrella body claiming to represent approximately 90 percent of the banking workforce—the strike is scheduled to take place from September 28 to 30, perfectly coinciding with the banking sector’s crucial half-yearly closing period. The bank employees are pressing for several key demands, most notably the immediate implementation of a five-day banking week, the updating and improvement of pensions, a uniform dearness allowance formula for all pensioners, and the option for employees covered under the National Pension System (NPS) to switch back to the Old Pension Scheme (OPS).
In a bid to minimize disruption for the general public, the government has already instructed public sector lenders to keep their branches open on Sunday, September 27, allowing customers an extra day to manage their financial needs before the strike commences. Major lenders, including the State Bank of India (SBI) and the Bank of India, have proactively communicated with their customers, highlighting that while they will strive to maintain normal operations, certain branch services and over-the-counter transactions are highly likely to be affected. Consequently, customers have been strongly advised to rely on 24×7 digital alternatives during the strike period, including ATMs, cash deposit machines, Internet and Mobile Banking, UPI platforms, and applications like YONO. Regional Rural Banks, as well as old-generation private lenders such as Karnataka Bank, have also indicated that their branch operations and departmental functions might face significant disruptions if the strike materializes.
However, customers of new-generation private sector banks, including ICICI Bank, HDFC Bank, Axis Bank, and IndusInd Bank, are expected to experience no disruptions, as these institutions will continue their normal banking operations throughout the three-day period. Earlier this week, the Union Finance Ministry appealed directly to the bank employees and union leaders to refrain from striking, emphasizing that the majority of their concerns have already been substantially addressed. The Ministry has urged the unions to resolve any remaining issues through continued dialogue rather than halting crucial financial services at the end of the half-year.
Published by True Roots Media Network