The United Forum of Banks Unions (UFBU) deferred the planned two day nation-wide strike from 20 January as the Indian Banks Association (IBA) has enhanced its offer from the initial 5% to 9.5% on payslip cost. C.H. Venkatachalam, general secretary of All India Bank Employees Association, said since there is an improvement in the offer from the IBA, the forum has decided to defer the two-day strike and further talks will be carried out. The UFBU had earlier announced plans to go on a two day strike on 20-21January, followed by further strikes in February and March 2014 for their demand. Some 10 lakh bank employees across the country had struck work on 18 December 2013 demanding early wage revision and opposing banking reforms, as the talks with the IBA failed to come up with a solution. The IBA argued that the economy is in bad condition and the Banks cannot revise wages now. However, the forum did not agree with this view and reiterated their demand.
