The Press Information Bureau (PIB) Fact Check team has definitively debunked viral claims that every Saturday has been declared a public holiday for public sector banks. In a recent post on X, PIB Fact Check stated that the Finance Ministry's Department of Financial Services has not issued any such notification, categorically declaring the document being shared online as fake and should not be treated as an official government order. The viral message includes a purported Gazette document from the Ministry of Finance (Department of Financial Services) claiming the Central Government has declared every Saturday a public holiday for all Public Sector Banks, including SBI. According to PIB, there is no Finance Ministry notification announcing such a decision, making the claims baseless and not sanctioned by the Ministry of Finance. The fact check team has urged citizens to avoid forwarding unverified government-related documents on social media and to check official sources before believing or sharing such information. PIB has specifically warned against relying on unverified documents circulating on social media, stating 'No such notification has been issued by Finance Ministry declaring every Saturday as public holiday for public sector banks' and asking people to flag suspicious content related to the Central Government to PIB Fact Check. This distinction is important because a gazette notification is an official government instrument, and a document merely carrying government department names, seals or formatting does not make it an authentic notification.
The Indian Banks' Association (IBA) and United Forum of Bank Unions (UFBU) have formed a joint panel to examine the five-day banking week proposal, with their first meeting scheduled for September 30, 2026. According to Business Today, the panel will explore implementation options for the all-Saturday holiday plan that has been under discussion for years. The formation of this committee represents progress in negotiations rather than evidence that approval is imminent, as no confirmed implementation date has been announced. The panel's discussions will focus on alternative models for five-day working arrangements, with C.H. Venkatachalam, general secretary of the All India Bank Employees' Association, confirming that the committee will explore different models for five-day working, and the committee will discuss alternative models. This development comes after the unions deferred their September 28-30 strike after reaching an understanding with the IBA on forming this high-level committee. The government itself referred to this demand in a September 21 PIB release, noting that five-day banking remained an unresolved issue at that point, while recalling that the government had declared the second and fourth Saturdays as public holidays for public sector banks in 2015.
At present, the banking holiday arrangement provides for the second and fourth Saturdays of every month as holidays for public sector banks, as confirmed by the Reserve Bank of India. According to the RBI, banks are closed on the second and fourth Saturdays as per the RBI rule, while banks work as regular days on the first, third and fifth Saturdays unless specified as a bank holiday in the RBI holiday calendar. The RBI's holiday framework states that all scheduled and non-scheduled banks observe these two Saturdays as public holidays, with the first, third and fifth Saturdays being generally working days for bank branches. The Reserve Bank of India (RBI) has previously noted that the government declared the second and fourth Saturdays as public holidays for banks from September 1, 2015. For bank customers, this means customers should not assume that a Saturday is a bank holiday simply because it falls towards the end or beginning of a month. The Finance Ministry's 2015 notification that declared the second and fourth Saturdays public holidays for banks provides the established basis for planning visits, while any revised arrangement would need to explain staffing and service coverage to maintain essential banking access. Digital banking services such as internet banking and mobile banking can continue to be available even when branches are closed, although certain transactions or services may follow different processing schedules.
The UFBU deferred the September 28-30 strike after reaching an understanding with the Indian Banks' Association (IBA) on forming a high-level committee to resolve their demands. According to Akashvani's report published on September 28, the unions had earlier deferred the strike after talks on September 27. The Finance Ministry's appeal on September 21 warned that the proposed stoppage would overlap with banks' half-yearly closing on September 30, identifying reconciliation, provisioning and treasury operations among activities requiring attention. The ministry urged dialogue and uninterrupted service, emphasizing that the remaining working Saturdays offer citizens an opportunity to access banking services. During the strike period, the government had announced special banking arrangements, with public sector banks directed to function normally on Sunday, September 27, and the RBI approving the opening of bank branches, offices, ATM-linked branches and currency chests on that day. The clarification comes shortly after bank unions deferred a three-day nationwide strike that was scheduled to take place from September 28 to 30, with the United Forum of Bank Unions (UFBU) having included the introduction of a five-day banking week among their key demands.
For now, customers should continue to follow the applicable bank holiday calendar, under which the second and fourth Saturdays are holidays, along with Sundays and other notified public holidays. The finance ministry noted that the five-day banking week proposal may continue to be discussed between the government, banking authorities and employee organisations, but any nationwide change to the existing Saturday working arrangement would require an official notification by the government. The panel's formation creates another formal opportunity to resolve the five-day banking week demand, but no verified implementation announcement establishes all-Saturday holidays. The PIB's urgent warning to verify government information through official channels before sharing, combined with the panel's formation, indicates that no official decision has been made and that the current banking holiday structure remains unchanged. For branch visits, cash deposits, document submission or other services that require physical access, customers should check the holiday calendar of their bank and the relevant state or regional holiday schedule before visiting. The distinction between policy discussions and actual implementation is crucial, as discussions or demands for a policy change do not mean that the change has already taken effect. Apart from the five-day banking week, bank unions have raised concerns over the new Performance Linked Incentive (PLI) scheme, with the unions alleging that the scheme was introduced unilaterally by the Department of Financial Services.
