India, Sept. 6 -- In a major setback to banking services across the country, the United Forum of Bank Unions (UFBU) has decided to proceed with its proposed nationwide strike on September 11, after conciliation talks with the Indian Banks' Association (IBA) failed to yield any positive outcome.

The decision was announced following a meeting between the IBA management and representatives of all seven constituent unions of the UFBU. The IBA delegation was led by Chief Executive AK Goel, Dy Chief Executive Gopal Murli Bhagat, and Sr Advisor (HR&IR) Arvind Misra.

During the meeting, IBA Chief Executive AK Goel appealed to the unions to defer the agitation, pointing out that a strike would severely disrupt economic activities and public bank...