Bank strike warning: 3 days shut from 28 September, more may follow
Every fact links to its official source.
60-second morning update
Change: Seven bank unions (UFBU) have called a 3-day bank strike from 28-30 September, demanding a 5-day work week and opposing individual performance pay. SBI and Bank of Baroda have warned customers of disruption. A longer strike may follow from 26 October.
Impact: Branch work, cash and cheque clearing will slow or stop for 3 days. Digital banking (UPI, net banking, ATMs) should keep working.
Action: Branch and customer service staff: tell customers now to finish urgent branch work before 28 September.
Change: RBI ordered Maharashtra Cooperation Minister Babasaheb Patil and 7 other directors removed from Latur DCC Bank's board, for serving past the 10-year limit the Banking Regulation Act sets for co-op bank directors. RBI acted after the Bombay High Court ordered it in a member's petition.
Impact: Shows RBI is enforcing the 10-year director tenure cap strictly, even against a sitting minister.
Action: NBFC and co-op compliance desks: check every director's start date against the 10-year cap now.
Change: RBI's rule that every bank must give the same FD rate to every customer depositing the same amount on the same day, at every branch, takes effect 1 October. Deposits of Rs 3 crore or more are 'bulk deposits', where banks may offer a different rate, but must publish it online by 10 am daily.
Impact: Ends branch managers offering special FD rates to some customers and not others.
Action: Branch and retail desks: update FD rate sheets and train staff before 1 October.
Change: IBPS RRB 2026 applications close today, 21 September, for 13,745 posts (Officer Scale I, II, III and Office Assistant) in regional rural banks.
Impact: Last day to apply for one of this year's largest bank recruitment drives.
Action: Careers desks: remind eligible staff and family, today is the last day.
Change: Bank branches are shut on different days this week for regional holidays: 21 September in Bhubaneswar and Thiruvananthapuram, 22 in Ranchi, 23 in Jammu and Srinagar, 25 in Gangtok, and 26 September everywhere for the month's designated non-working day for banks.
Impact: Customers in these cities may find branches closed. Digital banking stays open.
Action: Branch staff in these cities: put up the holiday notice today.
Reserve Bank of India action board
What changed: RBI ordered Maharashtra Cooperation Minister Babasaheb Patil and 7 others removed from Latur DCC Bank's board, for exceeding the Banking Regulation Act's 10-year cap on cooperative bank director terms.
Who is affected: Latur District Central Cooperative Bank, and any cooperative bank director serving past 10 years.
What to do: Check every director's tenure against the 10-year cap and remove any who have crossed it.
Last date: Ordered 18 September 2026, after a Bombay High Court direction of 3 August 2026.
What changed: RBI's Second Amendment to deposit interest rules takes effect. Banks must give one uniform FD rate to customers depositing the same amount on the same day. Bulk deposits (Rs 3 crore+) can get a different rate, published by 10 am daily.
Who is affected: All commercial banks, small finance banks, regional rural banks, local area banks, payment banks and urban cooperative banks.
What to do: Update FD rate cards and website disclosures before 1 October.
Last date: In force from 1 October 2026.
Source: Zee News, Personal Finance ↗
What it means for your job
Branch and retail: Branches in Bhubaneswar, Thiruvananthapuram, Ranchi, Jammu, Srinagar and Gangtok are shut on different days this week for regional holidays, before the 28-30 September strike adds more disruption.
Compliance and risk: RBI removed a sitting minister and 7 others from Latur DCC Bank's board for crossing the 10-year director tenure cap. Check every cooperative bank director's start date against this limit now.
Credit and lending: Gold loan rates start at 8.50 percent a year at Bank of Maharashtra, Indian Bank and some co-op banks. SBI, HDFC, ICICI are near 9.10-9.15 percent. RBI's 85 percent loan-to-value cap applies up to Rs 2.5 lakh.
NBFC and co-operative: Latur DCC Bank's board was reset by RBI after a Bombay High Court direction. Every co-op bank should audit director tenure before RBI or a court forces the issue.
Careers and learning: IBPS RRB applications close today for 13,745 posts. SBI's careers page also has a Group CISO role closing 24 September and Wealth Management roles closing 25 September.
People and industry: Seven bank unions under UFBU have called a 3-day strike from 28 September, and an indefinite strike from 26 October, over a 5-day work week and pay demands.
Treasury: RBI absorbed Rs 2.4 lakh crore via a VRRR auction on 17 September, pulling surplus cash from the banking system.
Banker problem solver
A customer asks if their fixed deposit is safe, and if the bank can quietly give someone else a better rate than them. What do you tell them?
From 1 October, RBI requires banks to give every customer the same FD rate for the same amount on the same day, at the same branch.
- From 1 October, everyone depositing the same amount on the same day at your branch gets the same rate.
- Only bulk deposits (Rs 3 crore or more) can get a different, separately published rate.
- Bulk deposit rates must be shown on the bank's website by 10 am every day.
Source: Zee News, Personal Finance ↗
Fraud and risk check
Check today: A message saying 'your account will be blocked due to the strike, click here to verify' is fake. A strike never needs you to re-verify by clicking a link.
Career and technology help
Real job openings on SBI's own careers page
SBI is hiring for several posts on its official careers page now: a Group Chief Information Security Officer role (closes 24 September) and Wealth Management and Premier Banking roles (closes 25 September).
One important number
13,745
Posts open in IBPS RRB 2026 recruitment for Officer Scale I, II, III and Office Assistant in regional rural banks. Applications close today, 21 September.
Source: Dainik Jagran, Education News ↗
Important dates
21 September — IBPS RRB application deadline, last day, for 13,745 posts.
24-25 September — SBI's Group Chief Information Security Officer and Wealth Management role deadlines.
28-30 September — Nationwide 3-day bank strike called by UFBU.
1 October — RBI's uniform fixed deposit rate rule takes effect.
One question
Should bank unions have the right to strike for 3 days, even if it disrupts customers? Yes / No