The proposed three day nationwide bank strike scheduled from September 28 to 30 has been deferred following an agreement between the United Forum of Bank Unions and the Indian Banks’ Association.

The decision was announced after a meeting between representatives of the two sides held on Sunday night. The United Forum of Bank Unions represents seven bank unions and had earlier called for the nationwide strike over issues concerning employees in public sector banks.

The planned strike was linked to two key demands. The unions were seeking the introduction of a five day banking week and the withdrawal of the Performance Linked Incentive scheme.

Following the latest discussions with the Indian Banks’ Association, the unions decided to postpone the strike that was due to begin on September 28.