"In today's meeting IBA improved their initial offer from 5 percent to 9.5 percent on pay slip cost. In view of this, it has been decided to defer the January 20-21 strike," United Forum of Bank Unions Convener CH Venkatachalam said.

General Secretary of National Organisation of Bank Workers, Ashwini Rana, said the next meeting with Indian Banks' Association (IBA) will be held on January 27.
The staff of public sector banks had gone on a one day nationwide strike on December 18.
The unions had gone on strike as discussions with IBA on wage revision on December 14 failed. IBA had stated that they would be able to offer an increase of five percent over the wage expenses.
The wage revision of public sector bank employees is due from November 2012. United Forum of Bank Unions is an umbrella organization of nine bank employees and officers unions.
There are 27 public sector banks in the country with employees’ strength of about eight lakh. There are about 50,000 branches of these banks across the country.


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