Banks call off strike: Why 3-day protest has been deferred by unions

Bank customers dreading a delay in transactions due to the proposed three-day bank strike have reason to cheer as the United Forum of Bank Unions (UFBU) has decided to defer the move.This means that all banks across the country will continue to function as usual for the strike period that had been announced September 28-30. This also assumes significance since it's the time for half yearly closing.Why bank unions deferred strikeBank unions on Sunday called off their planned three-day nationwide strike after the Indian Banks' Association (IBA) gave assurances on their key demands, including the long-pending demand for a five-day working week.The strike, which was scheduled to begin on Monday, had been announced by the United Forum of Bank Unions.