Nationwide bank strike on January 27 hits operations across India

Approximately 8 lakh bank employees and officers nationwide participated in the nationwide bank strike organized by the United Forum of Bank Unions (UFBU) on January 27, 2026, according to a news release from the bank unions. 

The strike was seen in public sector banks, private sector banks, foreign banks, regional rural banks, and cooperative banks, according to the UFBU, an umbrella organization of nine unions that represent bank officials and employees. 

The forum described the strike as a "total success," stating that it had a significant negative impact on regular banking operations across the country.The strike was called to press for the long-pending demand for a five-day work week in the banking industry, including declaring all Saturdays as bank holidays. At present, only the second and fourth Saturdays of every month are bank holidays.

"The government has refused to approve the implementation of the five-day banking week despite repeated assurances and formal agreements, so we were forced to go on strike," UFBU stated in a statement. The unions cited a memorandum of agreement signed with UFBU on December 7, 2023, and the subsequent settlement and joint note dated March 8, 2024, as the basis for the Indian Banks' Association's (IBA) recommendation of a five-day workweek. In order to make up for Saturdays being designated as holidays, everyday working hours from Monday through Friday were to be extended by forty minutes.

According to UFBU, the demand for a five-day work week has been pending since 2015, when the IBA and the government agreed to declare the second and fourth Saturdays as holidays, with an assurance that the remaining Saturdays would be reviewed later. However, the matter has remained unresolved despite further discussions in 2022 and a formal recommendation made in 2023.

The forum also noted that similar work-week patterns are already in place in institutions such as the Reserve Bank of India, Life Insurance Corporation of India, and General Insurance Corporation, besides central and state government offices. Stock exchanges and money markets also function only from Monday to Friday.

 

Conciliation meetings were held by the Chief Labour Commissioner on January 22 and 23, 2026, in New Delhi, with officials from the finance ministry participating. However, UFBU said the meetings did not yield any positive outcome, prompting the unions to go ahead with the strike.

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Axis Bank Q3 net profit rises 3%

Axis Bank reported a 3% rise in its standalone net profit for the quarter ended December 2025, reaching Rs.6,490 crore compared to Rs.6,304 crore from the same period last year.

The private sector bank's Net Interest Income (NII) for Q3FY26 was Rs.14,287 crore, reflecting a 5% year-on-year (YoY) increase and a 4% quarter-on-quarter (QoQ) rise, while its Net Interest Margin (NIM) for Q3FY26 was recorded at 3.64%.

In Q3FY26, the private bank generated an interest income of Rs.32,274 crore, which is 4.3% higher than the Rs.30,954 crore reported in the corresponding period of the previous financial year.

The company's profit after tax (PAT) experienced a 27% growth on a sequential basis, increasing from Rs.5,090 crore in Q2FY26.

Net Interest Income for the first nine months of FY26 reached Rs.41,591 crores, reflecting a 3% increase compared to the previous year. Fee income increased by 11% year-over-year to Rs.17,883 crores.

The operating profit for the first nine months of FY26 rose by 5% to Rs.32,803 crores, up from Rs.31,353 crores in the same period of FY25. Core operating profit also saw a 5% growth to Rs.30,824 crores, compared to Rs.29,341 crores in FY25.

Total provisions for the first nine months of FY26 amounted to Rs.9,741 crores. Net profit for FY26's first nine months was Rs.17,385 crores, representing a 10% decline from the previous year.

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UFBU Meeting 23 January 2026 Updates - 5 Days Banking

Today (23.01.26) again a meeting was held between UFBU, DFS, IBA, CLC and Bank Management for implementation of 5-Day Banking. The meeting was held at 3:30 PM in continuation to yesterday’s (22.01.26) meeting. Yesterday, the talks between UFBU and the Government of India failed, and the strike continued. Today also, the talks between UFBU and the government failed, and the strike will be conducted all across India on 27 January 2026.

Once again, the conciliation proceedings started to discuss the issue contained in the strike notice dated 08.01.2026 for the proposed strike to be held on 27.01.2026. At the outset, the Ld. representatives of DFS submitted that things are moving in the right direction and some decisions have been taken yesterday in favour of the Financial Sector. Accordingly, he requested the Ld. representatives of UFBU to reconsider their stand and defer the strike reflecting good gesture which may lead to positive outcomes.

At this stage, the Ld. representatives of IBA also requested in the same line of DFS and reiterated to consider the appeal so as to ensure that the dignitaries persuading their causes before the competent authorities may be strengthened to put forth their submission positively.

On the other hand, the Ld. representatives of UFBU reiterated that they are aware about the meaning and consequence of strike which is the ultimate legal right with the workmen. As such, they are not also of the intent to use such a stringent measure for pressing on the demand but as they have already deferred three such consecutive occasions of the proposed strike on some of the issues which contained the issue of 5 days banking also. As the Govt. is not at all responding on the issue of 5 days banking, they do not have any option in such compelling circumstances but resort to strike.

As the stalemate continued, the CLC(C) as Conciliation Officer also made an appeal to the Ld. union representatives to reconsider and avoid any direct action in the public interest so that industrial harmony be maintained. At the same time, the CLC(C) also advised other stakeholders to convey the message at appropriate level and try their level best to resolve the issue in public interest. It is also pertinent to mention at this stage that office of the CLC(C) is always open to facilitate the dialogue whenever it is required.

In the meantime, the provisions contained u/s 33(1) and 22 of the ID Act, 1947 shall remain in vogue. Next date in the matter is fixed on 09.03.2026 at 11.30 AM.

🗞️ What's happening right now about Strike

• Nationwide bank strike planned for  January 27, 2026 — Bank employee unions under the United Forum of Bank Unions (UFBU) have called a one-day nationwide strike to press for the implementation of a full five-day work week (i.e., both Saturdays off). 

• Banks likely to be closed for up to four days, from Jan 24–27, 2026 — because the strike overlaps with regular weekend holidays and Republic Day holidays. 

• Disruption in banking services expected across Gujarat and other states on Jan 27, with many branches closed and services slowed down. Around 800,000 bank employees are expected to participate nationwide; in Bihar alone, about 8,100 branches and 50,000 staff are involved. 

• Unions have also been urging political support (for example from West Bengal’s Chief Minister) to strengthen their strike call and demands. 

• The strike demand centers around the five-day working week, a change that was recommended by the banking industry earlier but hasn’t yet been formally implemented by the government. 

📌 Why it matters

• Customer impact: Physical bank branches may be shut on the strike day — but digital services (mobile banking, ATMs, online transfers) often remain available. Plan ahead for essential transactions. 

• Union demands: The main focus is the five-day work week, but bank workers often include other issues in agitation (staff shortages, working conditions, staffing norms etc.). 

If you’d like, I can pull specific state-wise closure lists or official notifications from your local banks for Jan 27 specifically.

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IndusInd Bank Q3 Net profit plunges 89% YoY

Private lender IndusInd Bank on January 23 said its standalone net profit fell 89% in the December quarter to Rs 161 crore.The lender reported net profit of Rs 1,401 crore a year ago. However, the lender posted a profit on sequential basis due to drop in provisions as the lender reported Rs 445-crore loss in the second quarter of FY26.

Net interest income — the difference between interest earned on advances and interest paid on deposits — climbed 3% quarter on quarter but fell 13% year-on-year to Rs 4,562 crore.

Rajiv Anand, the MD and CEO, IndusInd Bank said: "During Q3FY26, the Bank continued focus on optimisation of its balance sheet by letting go unprofitable loans and deposits along with being cautious on microfinance disbursements. The operating performance was steady with Pre-Provision Operating Profit at Rs 2,270 crore growing 11% QoQ. Our asset quality trends have been stable in all core businesses except in microfinance wherein industry is now showing early signs of recovery. Overall, the Bank has returned to profitability with a Profit After Tax of Rs 128 crore. The Balance sheet remains robust with a healthy capital adequacy, excess liquidity and reducing stressed asset pool. We are optimistic about resilient domestic economy and aim to participate in the growth recovery in a calibrated manner."

"The Provision Coverage Ratio improved at 71.5% as on December 31, 2025. Provisions and contingencies for the quarter ended December 31, 2025, were Rs 2,096 crores as compared to Rs 1,744 crores for the corresponding quarter of previous year. Total loan related provisions as on December 31, 2025, were at Rs 10,027 crore (3.16% of loan book)," said the lender in a stock exchange filing.

The lender's net interest margin was 3.52% in Q3FY26 as against 3.32% a quarter ago.Earlier in the day, the lender said its chairman Sunil Mehta will step down when his term ends in January, and named former State Bank of India Managing Director Arijit Basu as his successor.

For the quarter ended December, IndusInd's provisions and contingencies fell 20% from the previous quarter to Rs 2,089 crore. In the September quarter, the bank raised provisions for its microloan portfolio, resulting in a loss of Rs 445 crore.

The bank's loan book shrank 13.1% as of December-end from a year earlier, while deposits declined 3.8%, it said earlier this month.The bank has seen its top leadership change over the last year, amid concerns over governance and accounting lapses, which led to the exit of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana.

IndusInd took a Rs 2,100-crore hit to its accounts and posted its largest-ever loss in the March quarter. It swung back to profitability in the June quarter, and veteran banker Rajiv Anand assumed charge as chief executive at the end of August.

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Kotak Mahindra Bank Q3 result: Profit rises 4%

Private sector lender Kotak Mahindra Bank on Saturday reported a 4 percent increase in standalone net profit at Rs 3,446 crore for the third quarter ended December 2025.The Mumbai-based bank had earned a net profit of Rs 3,305 crore in the year-ago period.

The bank missed analyst estimates, as the analysts had expected a profit of 35.72 billion rupees, according to data compiled by LSEG.Total income rose to Rs 16,741 crore during the quarter under review from Rs 16,050 crore in the same period last year, Kotak Mahindra Bank said in an exchange filing.

The bank's interest income also grew to Rs 13,903 crore, as against Rs 13,428 crore a year ago.Net Interest Income (NII) in Q3FY26 increased to Rs 7,565 crore from Rs 7,196 crore a year ago.However, Net Interest Margin (NIM) declined to 4.54 per cent from 4.93 per cent in the third quarter of the previous financial year.

As regards asset quality, gross non-performing asset (NPA) ratio moderated to 1.30 per cent as on December 31, 2025, from 1.50 per cent a year ago. Net NPA also eased to 0.31 per cent from 0.41 per cent at the end of December 2024.owever, provisions rose to Rs 810 crore in the December quarter from Rs 794 crore in the same quarter of the last fiscal year.

During the quarter, the bank's capital adequacy ratio moderated a bit to 22.63 per cent, as compared to 22.79 per cent at the end of December 2024.On the consolidated basis, Kotak Mahindra Bank profit rose by 5 per cent to Rs 4,924 crore as compared to Rs 4,701 per cent in Q3-FY2025.

Q3FY26 consolidated profit includes estimated incremental cost of Rs 98 crore (post tax) pursuant to new Labour Code.Total Customer Assets Under Management as at December 31, 2025 grew to Rs 7,87,950 crore from Rs 6,85,134 crore a year ago.

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Indian Bank Q3 net profit rises 7%

The state-owned lender Indian Bank posted a net profit of Rs.3,061.48 crore for the third quarter of FY26 on Thursday, up 7.3% from Rs.2,852.36 crore during the same period last year.

In Q3FY26, the PSU bank's Net Interest Income (NII) climbed 7.5% year over year (YoY) to Rs.6,895 crore from Rs.6,414 crore.

Pre-Provisions Operating Profit (PPOP) during the December quarter rose 5.77% to Rs.5,023.58 crore from Rs.4,749.42 crore, YoY.

Provisions and contingencies of Indian Bank in Q3 declined to Rs.857.02 crore from Rs.738.60 QoQ, and from Rs.1,059.13, YoY. Provision Coverage Ratio improved by 19 bps YoY to 98.28% in December 2025 from 98.09%, YoY.

Asset quality of Indian Bank improved sequentially in the quarter ended December 2025. Gross Non-Performing Assets (NPA) ratio in Q3FY26 declined to year 2025 from 0.79% in September 2025, and from 0.78% in December 2024.

Capita Adequacy Ratio of the PSU lender improved by 66 bps to 16.58%. CET-I improved by 127 bps YoY to 14.54%, Tier I Capital improved by 77 bps YoY to 14.54% in December 2025.

Gross Advances increased by 14.24% YoY to Rs.6,38,848 crore in December 2025 from ₹5,59,199 crore in December 2024.

Total deposits of the bank increased by 12.62% YoY and reached Rs.7,90,923 crore in December 2025 as against Rs.7,02,282 crore, YoY. Current, Savings and CASA deposits grew by 19.13%, 8.45%, and 9.86%, YoY respectively. Domestic CASA ratio stood at 39.08% as on 31 December 2025. CD ratio stood at 80.77%.

Indian Bank has 5,965 domestic branches, out of which 2,001 are Rural, 1,592 are Semi-Urban, 1,191 are Urban and 1,181 are in Metro category. The PSU bank has 3 overseas branches and 1 IBU (Gift City Branch). The bank has 5,624 ATMs and BNAs and 16,247 number of Business Correspondents (BCs).

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Bank of India(BOI) Q3 Net profit up 8%

State-run Bank of India on Wednesday (January 21) reported a 7.5% year-on-year increase in net profit for the third quarter, with profit rising to ₹2,705 crore compared with ₹2,516.7 crore in the corresponding quarter last year.

Net interest income for the quarter grew 6.5% year-on-year to ₹6,462.6 crore, up from ₹6,070.3 crore in the same period a year ago. Gross non-performing assets declined to 2.26% from 2.54% in the previous quarter, while net non-performing assets eased to 0.60% from 0.65% sequentially.

Bank of India’s global advances grew 13.63% year-on-year, with domestic advances rising 15.16% YoY. The bank’s total global business crossed the ₹16 lakh crore milestone. Overseas advances increased 5.70% YoY.

On the domestic front, retail advances grew 20.64% YoY, agriculture advances rose 16.69% YoY, MSME advances increased 15.77% YoY, and corporate advances grew 11.32% YoY. The proportion of retail, agriculture, and MSME (RAM) advances in total advances increased to 58.54%.

Deposits for the bank grew 11.64% YoY, with domestic deposits up 12.80% YoY. CASA deposits rose 4.48% YoY, resulting in a CASA ratio of 37.97% as of 31st December 2025.

On the profitability front, operating profit for 9M-FY26 rose 4% YoY to ₹12,023 crore, while Q3FY26 operating profit increased 13% YoY to ₹4,193 crore. Net profit for 9M-FY26 was ₹7,511 crore, up 14% YoY.

Net interest income (NII) for 9M-FY26 stood at ₹18,442 crore. Non-interest income grew 20% YoY for 9M-FY26 to ₹6,665 crore, and 30% YoY for Q3FY26 to ₹2,279 crore. Net interest margin (NIM) for 9M-FY26 was 2.51% globally and 2.76% domestically, while Q3FY26 NIM improved to 2.57% globally and 2.80% domestically. Return on assets (ROA) and return on equity (ROE) for 9M-FY26 were 0.90% and 14.49%, respectively, rising to 0.96% and 15.34% in Q3FY26.

Asset quality improved, with gross NPA ratio at 2.26%, down 143 basis points YoY, and net NPA at 0.60%, improved by 25 bps YoY. The provision coverage ratio (PCR) increased 112 bps YoY to 93.60%.

Slippage ratio for 9M-FY26 improved 36 bps YoY to 0.64%, while Q3FY26 slippage ratio was 0.16%, up 3 bps YoY. Credit cost for 9M-FY26 improved 30 bps YoY to 0.42%, and for Q3FY26 improved 5 bps YoY to 0.34%. On the capital front, Bank of India’s capital adequacy ratio stood at 17.09% as of December 31, 2025.

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Punjab National Bank(PNB) Q3 Profit rises 13% YoY

State-owned lender Punjab National Bank (PNB) on January 19 reported a 13.13 percent rise in its profit after tax (PAT) to Rs 5,100.15 crore in the third quarter of the current financial year, from Rs 4,508.21 crore in the year-ago period. On a sequential basis, net profit rose 4 percent.

Gross non-performing asset (NPA) ratio of the bank improved to 3.19 percent as on December 31, 2025, from 3.45 percent as on September 30, 2025, and 4.09 percent as on December 31, 2025. Net NPA ratio improved to 0.32 percent in Q3FY26, from 0.36 percent in Q2FY26, and 0.41 percent in Q3FY25.

In absolute terms, gross NPA of the bank stood at Rs 39,314.21 crore in Q3FY26, as compared to Rs 40,343.33 crore in Q2FY26, and Rs 45,413.98 crore in Q3FY25. Net NPA of the bank improved to Rs 3,833.70 crore in Q3FY26, from Rs 4,025.75 crore in Q2FY26, and Rs 4,437.43 crore in Q3FY25.

Provision Coverage Ratio improved by 22 bps on year-on-year basis to 96.99 percent as on December 31, 2025 from 96.77 percent as on December, 31, 2024

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Big Bank Merger Coming? Government Signals Plan to Combine Two Major Banks

The government is allegedly seeking to combine two big banks as part of ongoing financial sector reforms, according to recent rumors that are gathering traction. Although mergers have long been a part of India's banking system, fresh debate has sparked concerns about which banks might be involved, why consolidation is being explored once more, and the potential effects on consumers, workers, and the overall economy.

Is the Government Planning a New Bank Merger?

At present, there is no official confirmation naming specific banks for an immediate merger. However, policymakers and financial regulators have repeatedly indicated that bank consolidation remains part of the long-term reform strategy to strengthen balance sheets, improve efficiency, and reduce systemic risk under the oversight of the Government of India and the Reserve Bank of India.

Merger Objective	Why It Matters
Stronger Capital Base	Improves financial stability
Lower NPAs	Better risk management
Operational Efficiency	Reduced duplication of branches
Global Competitiveness	Larger banks compete internationally
Simplified Oversight	Easier regulation and supervision

Why Bank Mergers Are Being Discussed Again

Previous public-sector bank mergers were aimed at creating fewer but stronger banks. Rising credit demand, digital transformation costs, and the need for robust capital buffers are once again pushing consolidation discussions to the forefront.

Which Banks Could Be Involved

No banks have been officially identified. Historically, mergers have involved public sector banks, not private lenders. Any future merger would likely focus on strategic fit, regional overlap, and financial health, rather than size alone.

What a Merger Would Mean for Customers

For customers, mergers typically bring account number changes, IFSC updates, and system migrations, but deposits and loans remain protected. The government has consistently stated that customer money is safe during such transitions.

Impact on Employees

Bank mergers often raise concerns about job security. In past consolidations, the government emphasized redeployment rather than layoffs, with staff reassigned across branches and departments.

Is This a Done Deal or Still a Proposal?

As of now, this is policy-level discussion, not an approved merger. Any concrete plan would require Cabinet approval, regulatory clearance, and formal announcements, all of which would be made public well in advance.

Key Facts to Know Right Now

• No official bank names confirmed
• Merger discussions are policy-level
• Public sector banks are the likely focus
• Customer deposits remain protected
• Formal approval is still required

While talk of a big bank merger has intensified, it remains under discussion rather than confirmed policy. If implemented, the move would aim to strengthen the banking system rather than disrupt it. Until official announcements are made, customers and employees should treat merger reports as preparatory signals, not final decisions.

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Why 5-Day Banking Is Essential for the Indian Banking Sector?

For the Indian banking industry to increase productivity, staff happiness, and service quality, a five-day banking week must be implemented. Digital banking, regulatory compliance, cybersecurity concerns, and increased customer service responsibilities have all contributed to the complexity of banking operations. Bank workers can get enough rest and recuperation from a regular five-day workweek, which boosts output, improves decision-making, and lowers operational errors. 

Additionally, five-day banking promotes a better work-life balance, which is essential for addressing the stress, exhaustion, and mental health issues that bank employees confront. Employees that are motivated and get enough sleep are more customer-focused, which guarantees better service delivery and grievance resolution. 

The banking sector may become more competitive with other financial and corporate sectors that already follow a five-day work culture as a result of this shift, which can lower attrition and draw in new talent.

 

From an operational standpoint, banks now mostly rely on digital platforms that offer round-the-clock services, like internet banking, mobile banking, ATMs, and UPI. Therefore, cutting back on physical working days won't have a big effect on consumer convenience. 

Rather, it enables banks to concentrate on more effective planning, training, system improvements, and compliance initiatives. 

All things considered, five-day banking helps Indian banks comply with international standards, boosts staff morale, increases institutional effectiveness, and promotes the banking industry's sustainable growth without sacrificing client care.

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