Chennai, Jan 25 (IANS): The status of the two-day strike announced by the bank unions will be known on January 27 when another round of conciliation meeting between the unions and the management will be held.

"The strike call for January 30 and 31 stands. At the conciliation meeting held by Deputy Chief Labour Commissioner in Mumbai on Tuesday, no concrete assurance on resolution of our demands emerged. On the other hand, the Indian Banks' Association (IBA) said it was ready to hold discussion with the United Forum of Bank Unions (UFBU) within 15 days," C.H. Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA) told IANS.

According to him, the next round of conciliation meeting is posted on January 27 and as such the strike call stands.

The strike if it happens will be ahead of the Union budget to be presented by the Finance Minister Nirmala Sitharaman on February 1.

The UFBU is an umbrella body of several bank unions which had earlier decided to go on strike to press their various demands.

The strike is to press for the following demands: five days banking, updation of pension, residual issues, scrapping of National Pension System (NPS), immediate starting of negotiation on charter of demands for wage revision, and adequate recruitment in all cadres.