Correction: the 3-day bank strike is put off - banks work as usual today
Every fact links to its official source.
Correction, 28 Sep 2026, 7:12 AM IST: The first version of this brief, sent at 7:00 AM IST, said a 3-day bank strike starts today. That was wrong. Bank unions put off the strike on Sunday, 27 September. The Indian Banks' Association had agreed to discuss their demands, including a five-day week. Banks work as usual today. We are sorry for the error. The Hindu BusinessLine, checked 28 September 2026 ↗
60-second morning update
Change: The 3-day bank strike planned for 28 to 30 September is put off. Bank unions deferred it on Sunday after talks with the Indian Banks' Association.
Impact: All banks, including public sector and regional rural banks, work as usual today. Cash, cheque and passbook work runs normally.
Action: Branch staff: report as usual. If you told customers your branch would be shut, tell them it is open.
Change: RBI's Supervisory Data Quality Index, which scores the data banks send RBI, rose to 93.3 in the June quarter from 90.7 in March, across 87 banks on 4 measures.
Impact: Only 1 bank scored below 80, RBI's weak line. Private banks scored lowest of the 4 bank groups, at 92.2.
Action: Compliance teams: check your bank's score, and its consistency measure, the only one of 4 that fell this quarter.
Change: RBI could name HDFC Bank's next MD and CEO within days: insider Kaizad Bharucha, Deputy MD since 2023, or outsider Anup Bagchi, MD and CEO of ICICI Prudential Life.
Impact: HDFC Bank wants its new chief in place before 17 October results. Current CEO Sashidhar Jagdishan's term ends 26 October.
Action: HDFC Bank staff: watch for the official announcement this week, not another rumour.
Change: Banks and big NBFCs (Bajaj Finance, L&T Finance, Shriram Finance, Cholamandalam, Aditya Birla Capital) are pushing into gold loans, a Rs 18.6 lakh crore market. Muthoot's book grew 43 percent in a year, but new customer growth slowed to 0.6 percent.
Impact: More lenders chasing the same customer usually means lower rates for borrowers and thinner margins for lenders.
Action: Credit staff: check today's competing rate, usually 15-16 percent, before you quote a customer.
Change: Bank of India is hiring 205 Specialist Officers, deadline extended to 5 October. Bank of Baroda is hiring 1,100 people, deadline extended to 1 October.
Impact: 2 of the biggest bank hiring windows open this month.
Action: Apply only on each bank's own careers page. Never pay any agent for these jobs.
Reserve Bank of India action board
What changed: RBI's Supervisory Data Quality Index, measuring accuracy, timeliness, completeness and consistency of bank data, rose to 93.3 for June 2026, up from 90.7 in March, across 87 scheduled commercial banks. Consistency alone fell, to 87.3 from 87.4. Note: RBI's own release page could not be opened this session; figures are confirmed by The Tribune, ANI and Business Standard, all reporting the same numbers.
Who is affected: All 87 scheduled commercial banks RBI scores: public sector, private, foreign and small finance banks.
What to do: RBI treats above 90 as good and flags any bank below 80; only 1 bank was below 80 this quarter. Ask your compliance team where your bank stands.
Last date: Scores are for the quarter ended June 2026, reported 22 September 2026.
What it means for your job
Branch and retail: The strike is put off, so branches are open as usual today. Tell any customer who heard otherwise.
Compliance and risk: RBI's Data Quality Index rose to 93.3 this quarter, but consistency fell. Check today if your bank's own score is improving or slipping.
Credit and lending: Banks and NBFCs are undercutting each other on gold loan rates, now 15-16 percent. Check your rate before your next pitch.
NBFC and co-operative: Gold-loan NBFCs like Muthoot and Manappuram face real competition now. Muthoot's own new-customer growth slowed to 0.6 percent even as its book grew 43 percent.
Careers and learning: 2 large hiring drives are open: Bank of India, 205 posts, last date 5 October; Bank of Baroda, 1,100 posts, last date 1 October.
People and industry: RBI could name HDFC Bank's next MD and CEO within days, choosing between insider Kaizad Bharucha and outsider Anup Bagchi.
Treasury: RBI will run an overnight Variable Rate Reverse Repo auction today to absorb surplus cash from the banking system.
Banker problem solver
Your bank's gold loan customers are being wooed by rivals. What do you check first?
Gold loans are an Rs 18.6 lakh crore market, and banks plus big NBFCs are now competing hard with Muthoot Finance and Manappuram Finance for the same customers.
- Check your bank's gold loan rate against the market range of 15-16 percent before you quote a customer.
- Ask if your bank offers doorstep appraisal or faster disbursal - Manappuram is opening 500 branches in FY27 to compete on convenience, not just rate.
- Watch loan-to-value and renewal terms too - customers are comparing terms, not only rates.
Career and technology help
205 Specialist Officer posts at Bank of India, deadline extended
Bank of India is hiring 205 Specialist Officers across 48 posts, from Chief Manager to Officer scale, in IT, data, law, civil engineering and fire safety. Deadline extended to 5 October 2026. Apply only through Bank of India's own careers page.
Source: Bank of India, official recruitment extension notice, checked 28 September 2026 ↗
One important number
93.3
RBI's Supervisory Data Quality Index for June 2026, out of 100 - how accurate, timely, complete and consistent the data banks send RBI is. It was 90.7 in March 2026.
Important dates
1 October — Bank of Baroda's hiring deadline; South Indian Bank's new CEO takes charge; RBI's export-import rule takes effect.
5 October — Bank of India's Specialist Officer hiring deadline.
26 October — HDFC Bank CEO Sashidhar Jagdishan's term ends.
One question
Do you think all Saturdays should be bank holidays, the way they already are at RBI and government offices? Yes/No