New Delhi, Sept. 28 -- The proposed three-day nationwide bank strike from September 28 to 30 has been deferred after the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) reached an understanding on Sunday night. The development comes just hours before the strike was scheduled to begin and offers temporary relief to customers who could otherwise have faced disruption in branch banking services.

According to a UFBU circular issued on September 27, the decision followed a meeting between the two sides at 9:30 pm. The unions said they had agreed to defer their planned agitation and strike action after discussions on five-day banking, the performance-linked incentive (PLI) scheme and other pending issues.

The meetin...