Public sector banks will operate this Sunday, September 27, to reduce disruption from a three-day nationwide strike planned by unions from September 28-30. The strike, led by UFBU, demands a five-day banking week and disputes a new Performance Linked Incentive (PLI) scheme.
3 Days
Strike Duration
⏳ Time Machine
How today’s news fits into the bigger picture
March 2024
Five-Day Banking Demand Accepted
The Indian Banks' Association (IBA) reportedly agreed to the demand for a five-day banking week during wage settlement negotiations, sending the proposal to the government for approval. This agreement became a central point of contention in later disputes.
August 2026
Revised PLI Scheme Fuels Discontent
A government directive to implement a revised Performance Linked Incentive (PLI) scheme for senior bank officials triggered strong opposition from bank unions, who deemed it unilateral and unfair.
September 11, 2026
One-Day Nationwide Bank Strike
UFBU held a one-day all-India strike to press for its demands, including the five-day workweek and changes to the PLI scheme, indicating growing unrest in the banking sector.
September 21, 2026
Government Abeyance of PLI Scheme
The government decided to keep the controversial Performance Linked Incentive (PLI) scheme in abeyance, fulfilling one of the two main demands of the bank unions.
September 24, 2026
Early Salary Disbursement for Govt. Employees
The Finance Ministry announced that central government employees would receive their September salaries, wages, and pensions on September 25, ahead of schedule, to mitigate the impact of the upcoming strike.
September 26, 2026
Banks Closed for Fourth Saturday
Today, banks across India are closed for the traditional fourth Saturday holiday, intensifying concerns about extended service disruptions due to the strike starting Monday.
Today
Public sector banks open Sunday, September 27, to cushion against impending three-day strike.
What happens next?
UFBU threatens an indefinite nationwide strike from October 26 if demands for a five-day workweek are not met.
Indian public sector banks will observe an unusual working day this Sunday, September 27, to minimize public inconvenience ahead of a scheduled three-day nationwide strike. The strike, called by the United Forum of Bank Unions (UFBU), will run from Monday, September 28, to Wednesday, September 30, following the standard weekend closure today, Saturday, September 26. This means the Sunday opening aims to prevent an effective five-day disruption of banking services. The UFBU is pushing for a five-day workweek, making all Saturdays holidays, and challenging a revised Performance Linked Incentive (PLI) scheme. While the government has kept the PLI scheme in abeyance, the five-day workweek demand, reportedly agreed in March 2024, remains unresolved. To soften the blow, the Finance Ministry arranged for early disbursement of September salaries and pensions for central government employees.
💭 If you're wondering…
UFBU stands for United Forum of Bank Unions. It is an umbrella organization representing multiple unions and associations of bank employees and officers across India.
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