Public and private sector banks across India remain closed today, Monday, January 26, on account of Republic Day 2026, a national holiday as per the Reserve Bank of India's official holiday calendar. Republic Day marks the 77th anniversary of the day India adopted its Constitution on January 26, 1950, officially becoming a sovereign, democratic republic. As per NDTV Profit, the main Republic Day parade will take place at Kartavya Path in Delhi, with celebrations held nationwide to honour the nation's history and achievements. The holiday has contributed to a three-day weekend, with the fourth Saturday on January 24, Sunday on January 25, and Republic Day today. According to latest reports, while physical bank branches are shut nationwide, banking activities on mobile and internet platforms continue uninterrupted for customers. ATMs remain operational for cash withdrawals, and UPI services function as usual during the holiday period. However, cheque clearing and other over-the-counter services under the Negotiable Instruments Act will not be available today, as per RBI regulations for declared bank holidays.
Bank employee unions have confirmed a nationwide strike on January 27 after conciliation talks with the government failed to resolve demands for a five-day work week. The United Forum of Bank Unions (UFBU) announced the strike decision following unsuccessful meetings with the Chief Labour Commissioner on Wednesday and Thursday. As per Business Today, the conciliation meetings included representatives from the Indian Banks' Association (IBA), various banks, and the Department of Financial Services from the Ministry of Finance, alongside all nine UFBU member unions. "Despite detailed discussions, finally there was no positive outcome out of the conciliation proceedings. Hence it has been decided to go ahead with the strike on January 27," UFBU stated. The strike threatens to create three consecutive days of banking disruption, following Sunday's closure and Republic Day holiday. Public sector banks will be primarily affected, while major private banks such as HDFC Bank, ICICI Bank, and Kotak Mahindra Bank are not expected to participate in the strike.
Bank unions are demanding implementation of a five-day work week, arguing that employees currently get only Sundays and the second and fourth Saturdays off each month. According to Business Today, the decision to make all Saturdays holidays was agreed between the Indian Banks' Association (IBA) and UFBU during the wage settlement in March 2024, but has not been implemented yet. UFBU emphasizes that "there would be no loss of man-hours as we have agreed to work an extra 40 minutes daily from Monday to Friday." The union forum points out that RBI, LIC, GIC, stock exchanges, and government offices already follow a five-day work week and questions why banks continue operating six days. Bank unions argue that a five-day schedule would reduce work pressure, improve efficiency, and allow employees more time with their families, bringing banking sector practices in line with other financial institutions.
Despite branch closures from January 24-26, digital banking services remain fully operational during the Republic Day holiday period. As per NDTV Profit, customers can continue using mobile banking applications, internet banking platforms, and UPI payment systems without interruption. ATM services for cash withdrawals and deposits function normally across the country. However, cheque-related transactions and promissory note services are unavailable on RBI-declared bank holidays, as per the Negotiable Instruments Act. Banking industry sources confirm that all electronic payment systems, fund transfers, and account balance inquiries through digital channels continue to work seamlessly. Customers planning urgent banking transactions are advised to utilize these digital alternatives during the holiday period and the potential strike on January 27, as many public sector banks have already informed customers that banking services may be disrupted.
On working days, most major banks in India maintain specific operational hours for customer convenience. State Bank of India, Bank of India, and Punjab National Bank operate between 10 am and 4 pm, while private banks like ICICI, HDFC, Axis, Yes Bank, and Kotak Mahindra Bank usually function from 9:30 am to 4:30 pm or 3:30 pm, depending on the branch. Bank of Baroda has slightly extended hours, operating between 9:45 am and 4:45 pm or 10 am to 5 pm, and Canara Bank typically works from 10 am to 3:30 pm. Customers are advised to check with their local bank branch for approved holiday schedules, as holidays may vary across states due to regional and local requirements. With the confirmed strike on January 27, customers should plan branch-related transactions accordingly and rely on digital banking channels during the extended closure period. Many public sector banks have already issued advisories about potential service disruptions during the strike.