Bank unions on Sunday deferred a three-day nationwide strike after the Indian Banks' Association (IBA) gave assurances on their demands, including a five-day work week.
The strike, called by the United Forum of Bank Unions (UFBU), was due to begin on Monday and coincided with the half-yearly closing of banks.
With the strike deferred, banks will function on Monday.
"A high-level committee of the IBA and UFBU will be formed immediately to deliberate on the issue of declaring the remaining Saturdays as holidays. This committee will explore all possible alternatives, discuss with all the stakeholders, and work out a solution acceptable to all the stakeholders, more importantly, the customers," the UFBU said in a statement.
Regarding the performance-linked incentive (PLI) scheme for Scale IV and above officers, discussions can begin with the IBA to propose modifications to the government to address the observations of the unions/associations, it said.
The residual issues listed in the minutes dated March 8, 2024, will also be discussed between the parties for expeditious resolution, it said.
"In view of the above, it was agreed by the UFBU that the proposed agitational programmes and strike actions will be deferred," it added.
(With inputs from PTI)