Are banks open or closed today? What we know about nationwide strikes on September 11

Bank customers may face disruption in branch services on Thursday as the United Forum of Bank Unions (UFBU) has gone ahead with its call for a nationwide strike over the demand for a five-day banking week.

The UFBU, an umbrella body of seven bank employee and officer unions, had called a one-day strike on September 11, followed by a three-day strike from September 28 to 30 and an indefinite strike from October 26.

The unions are demanding implementation of a five-day working week and withdrawal of the government's revised performance-linked incentive (PLI) scheme for senior bank officers, among other issues.

While the government has decided to keep its new PLI scheme for public sector bank employees in abeyance for 2025-26, the UFBU has maintained that the September 11 strike will go ahead as there has been no positive development on the five-day banking demand.

“No concrete development rather than "as soon as possible " from government side on 5 days banking,” UFBU posted on X on September 10. “Strike stands March on.”

This means the September 11 strike remains scheduled unless there is a last-minute settlement between the unions and the authorities.

Why are bank unions striking?

The UFBU has been pressing for a five-day working week, saying the Indian Banks' Association (IBA) had agreed to the proposal under the 12th Bipartite Settlement/9th Joint Note signed on March 8, 2024.

Under the proposal, banks would operate from Monday to Friday, with daily working hours increased by 40 minutes.

The proposal was subsequently sent to the government for consideration.

“It is more than 2 years now and yet the matter is kept pending with the government,” the UFBU had said in its August 23 circular announcing the strike programme.

The unions are also opposing changes to the PLI structure for senior bank officers.

What happened to the PLI issue?

The government on Monday decided to keep in abeyance the implementation of its PLI scheme for public sector bank employees for 2025-26.

The decision followed a meeting between Finance Minister Nirmala Sitharaman and a delegation of bank employees led by the Bharatiya Mazdoor Sangh.

The delegation raised issues including review of ex-gratia, medical facilities for retired employees and changes to the existing PLI structure.

The Finance Ministry said the PLI scheme dated November 19, 2024, would remain in abeyance for 2025-26 and would be taken up during the ongoing Bipartite Settlement/Joint Note discussions.

The UFBU, however, said the PLI issue had been addressed “for the time being”, while the five-day banking demand remained unresolved.

Will bank branches remain shut?

While the banks are not officially closed, branch operations of participating banks could be affected across the country.

Several public sector banks have informed stock exchanges about the strike notices served by the UFBU.

State Bank of India, in a regulatory filing dated September 7, said the UFBU had served notices for strikes on September 11, September 28-30 and an indefinite strike from October 26.

SBI said it had made necessary arrangements to ensure normal functioning of its branches and offices, but acknowledged that work could be impacted by the strike.

Bank of Baroda has also informed the exchanges about the strike notices and said it was taking steps for smooth functioning of its branches and offices. However, it noted that operations may be affected if the strike materialises.

Punjab National Bank said the IBA had informed it about the strike notices issued by the UFBU.

Customers may have to wait several days

The timing of the strike could result in an extended disruption for customers in some parts of the country.

September 12 is the second Saturday and September 13 is Sunday. September 14 is also a bank holiday in several states on account of Ganesh Chaturthi.

Depending on the state or Union Territory, customers could therefore face three or four consecutive days without normal branch operations from September 11.

Bank holidays, however, vary across states and Union Territories.

Customers who need branch-based services may therefore want to check the holiday schedule of their bank and location before visiting a branch.