Banks will function normally as a section of public sector bank employees who had threatened to go on strike tomorrow have deferred it following assurance from the government that there is no plan for merger of banks at present.
Following conciliatory meeting before ChiefLabour Commissioner, where officials ofFinance Ministry and Indian Banks' Association (IBA) were present, it was decided to defer the strike, All India Bank Employees Association (AIBEA) General Secretary, C H Venkatachalam told PTI. He said there was assurance from the Finance Ministry official that there is no plan for merger of public sector banks and that both IBA and Finance Ministry officials gave assurance to consider other demands of the two unions.
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