New Delhi, Sept. 28 -- Banks across India remained open today, on Monday, 28 September after the Indian Banks' Association (IBA) and the United Forum of Bank Unions (UFBU) reached an understanding on Sunday night, September 27. The UFBU's proposed 3-day strike - originally scheduled from 28-30 September, has thus now been deferred.

Notably, the protest was part of a push from employee unions demanding five-day work week, and due to concerns over Performance Linked Incentive (PLI) scheme, among other issues.

The strike being deferred was notified in a UFBU circular on Sunday, which said the union met and had discussions with the IBA. A high-level committee of both bodies has been formed to deliberate on the issue, explore all possible al...