New Delhi, September 23: The nationwide bank strike, called by four public sector bank unions on September 26 and 27, has been postponed. Hence, banks across the country won't be shut for four consecutive days. There was a possibility of no operations at bank branches from September 26 to 29 due to the two-day strike (September 26 and 27), fourth Saturday on September 28 and Sunday on September 29.

However, the two-day bank strike has been deferred indefinitely. Four bank unions - All India Bank Officers' Association (AIBOA), All India Bank Officers' Confederation (AIBOC), National Organisation of Bank Officers (NOBO), and Indian National Bank Officers' Congress (INBOC) - had threatened to go on a two-day strike on September 26 and 27 to protest against the consolidation of 10 state-run banks into four.

On Monday, representatives of the banks met Union Finance Secretary Rajiv Kumar who assured them to look into their concerns. Rajiv Kumar accepted bank unions' demand to form a committee to look into the concerns raised by them. Subsequently, the two-day strike was postponed. As a result, operations including transactions at bank branches will remain normal on September 26 and 27.

"Finance Secretary Rajiv Kumar was positive in formation of a committee consisting of all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks. An appeal was made to us to revisit our strike call in view of the discussions," read a joint statement issued by bank unions. In view of the consideration of the positive and workable solution by the Finance Secretary, the 48 hours strike stands deferred, it said.

The government had on August 30 announced its mega consolidation plan to bring the down the total number of PSBs to 12 from 19, which is being opposed by bank unions.

(The above story first appeared on LatestLY on Sep 23, 2019 11:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).