Complete your bank work by tomorrow: 3-day strike starts Monday
Every fact links to its official source.
60-second morning update
Change: The finance ministry told bank bosses to prepare for the 28-30 September strike: fill ATMs, add staff, keep service running. Big banks (SBI, PNB, Union Bank, Indian Bank) have asked customers to finish urgent branch work by tomorrow, 25 September. Many branches also open specially this Sunday, 27 September, to clear the backlog.
Impact: Saturday, 26 September is already a bank holiday. With the strike on top, branches could be shut or thin from 26 to 30 September, 5 days running.
Action: Branch staff: finish cheque clearing and cash work before 25 September. Tell customers to use UPI, mobile banking or net banking after that date.
Change: RBI deputy governor Rohit Jain warned banks against fighting a loan price war. Banks have received close to Rs 11 lakh crore in new deposits from Indians living abroad.
Impact: If banks rush to lend this money out cheaply just to hit this quarter's growth numbers, some of those loans could turn bad in a few years.
Action: Credit staff: keep to your normal lending checks even if told to grow loans fast this quarter.
Change: RBI finalised new rules on how much extra capital banks must hold against risks in their trading book, matching India's rules to the global Basel III standard.
Impact: Banks have until 1 April 2027 to comply, but systems and reporting changes need to start now.
Action: Risk and compliance staff: start checking which of your bank's holdings will need reclassifying under the new rules.
Change: MSME lending could reach Rs 2.4-2.6 lakh crore in the next six months (July-December), a report by lender FlexiLoans says, driven by festive-season stock buying and online shopping growth.
Impact: NBFCs, not banks, are now doing most small MSME loans, 46 to 54 percent of loans between Rs 2 lakh and Rs 25 lakh.
Action: MSME and credit desk staff: expect more competition from NBFCs for small-ticket loans this festive season.
Change: CORRECTION CHECK: a report claimed banks were told to stock ATMs because of the new UPI shop fee. The government's own fact-check office, PIB, says this is false.
Impact: The real ATM order (see point 1) is about the bank strike, not the UPI fee.
Action: Do not forward or repeat the UPI-fee ATM story. It is wrong.
Reserve Bank of India action board
What changed: RBI finalised new directions on minimum capital banks must hold for market risk (the risk of loss from price moves in bonds, forex and other holdings), bringing India in line with the global Basel III rules.
Who is affected: All commercial banks in India.
What to do: Start mapping which holdings need new treatment under the rules; full compliance is due by 1 April 2027.
Last date: Issued 21 September 2026; effective 1 April 2027.
What changed: RBI extended the InvIT/REIT valuation rule reported here on 23 September to Small Finance Banks, Payments Banks, Local Area Banks, and institutions like NABARD and SIDBI.
Who is affected: Small Finance Banks, Payments Banks, Local Area Banks, and All-India Financial Institutions.
What to do: Follow the same valuation method already required for commercial banks.
Last date: Effective from date of issue, 22 September 2026.
What it means for your job
Branch and retail: Get ready for the strike. Finish cheque clearing and cash work before 25 September. Many branches open specially on Sunday, 27 September, before the 28-30 September strike.
Compliance and risk: RBI finalised new Basel III capital rules for market risk, effective 1 April 2027. Start checking which investments will need new treatment.
Credit and lending: RBI's deputy governor warned against a loan price war as banks sit on close to Rs 11 lakh crore in new deposits. Don't cut corners to hit growth targets.
NBFC and co-operative: NBFCs now do most small-ticket MSME loans, 46 to 54 percent of loans between Rs 2 lakh and Rs 25 lakh, ahead of government banks, a FlexiLoans report says.
Payments and technology: Banks say UPI, mobile banking, net banking and ATMs will keep working through the strike. Only branch and cheque work will be hit.
Careers and learning: This week's free tool: Microsoft's own AI-900 training path teaches AI basics free online. Only the certificate exam has a fee.
People and industry: HDFC Bank shares hit a 7-week high as RBI weighs Anup Bagchi for the top job. A decision is expected soon.
Treasury: RBI absorbed Rs 75,026 crore of extra cash on 23 September through an overnight auction, and plans a Rs 25,000 crore government bond sale on 28 September.
Banker problem solver
A customer needs to withdraw money or send a payment before the strike but cannot visit the branch. What should staff tell them?
Bank branches will be shut or short-staffed from 26 to 30 September because of the weekend and the 3-day strike.
- Find out what the customer needs: cash, a transfer, or a cheque-based transaction.
- For cash or transfers, guide them to ATMs, UPI, mobile or net banking. Banks say these will keep working through the strike.
- For cheque deposits or a branch visit, ask them to complete it before 25 September or wait till the branch reopens on 1 October.
Fraud and risk check
Check today: A message saying banks were told to stock ATMs because of the new UPI shop fee is FALSE, says the government's fact-check office, PIB. The real order is about the strike, not the fee. Do not forward it.
Career and technology help
This week's free tool: learn AI basics from Microsoft, free
Microsoft's own training site offers a free, self-paced course called Azure AI Fundamentals (AI-900). It teaches AI, machine learning and generative AI basics. The training has no fee; only the optional certificate exam costs money.
Source: Microsoft Learn ↗
One important number
Rs 2.4-2.6 lakh crore
How much MSME lending could happen in India between July and December 2026, mostly for festive-season stock and sales, a report by lender FlexiLoans says.
Important dates
25 September — Deadline banks are asking customers to complete branch transactions before the strike.
28-30 September — Confirmed 3-day nationwide bank strike.
1 October — RBI's uniform fixed deposit interest rate rule takes effect.
15 October — New UPI shop fee of 0.4 percent begins.
One question
Should banks be required to open on a weekend, like this Sunday, before every strike? Yes/No