Banks unions defer Jan 7 strike, talks to go on Wednesday

Chennai, Jan 6: Unions in the banking sector Tuesday decided to defer their Jan 7 national strike with the Indian Banks'Association (IBA) upping its hike offer by 1.5 percent to 12.5 percent, said a union leader. Further talks are scheduled Wednesday, C.H.Venkatachalam, general secretary, All India Bank Employees Association (AIEBA) told IANS over phone from Mumbai. "IBA has improved their offer to 12.5 percent. Talks will continue tomorrow (Wednesday) morning and the strike announced earlier on Jan 7 has been deferred," he said