PSU bank employees' unions have deferred the proposed four-day strike from January 21 after the management of banks (IBA) assured that wage related issues will be resolved by early February. 

"Four-day strike has been put on hold as Indian Banks' Association (IBA) assured that wage issue will be resolved by the first week of February," United Forum of Bank Unions (UFBU) Convener M V Murali said. 

Earlier in the day, employees unions had announced that they willgo on a 4-day strike from January 21 to protest against the "rigid and callous attitude" of Central Government in resolving the long pending wage revision issues. 

On request of the bank management, IBA, for continuation of dialogue for wage negotiations, it was decided to defer the bank strike, Ashwini Rana, General Secretary of National Organisation of Bank Workers, said. 

Murali said, "If there is no satisfactory outcome fresh dates for four to five days strike action in February would be announced." 

The wage revision of public sector bank employees has been due since November 2012. 

The unions had deferred one-day strike scheduled for January 7 as IBA improved the wage hike offer to 12.5 per cent from 11 per cent earlier. The unions are demanding a wage hike of 19 per cent. 

The UFBU is the umbrella organisation of nine bank employees and officer unions while IBA is association of public and private lenders. 

According to Rana, there were differences over deferment of strike by unions. Some of the unions were against deferring the strike. 

Last year in December, the bank employees' unions had gone on four-day rotational strike to press for their demand. 

There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country. (PTI - Economic Times)