Chennai, Jan 28 (IANS): The United Forum of Bank Unions (UFBU) has deferred the two-day nationwide bank strike on January 30-31 following an understanding at the conciliation meeting held in Mumbai, said C.H.Venkatachalam, General Secretary, All India Bank Employees' Association (AIBEA).

According to Venkatachalam, the Indian Banks' Association (IBA) has agreed to hold a meeting with the unions on January 31.

At the conciliation meeting held on Friday, it was decided that the three common issues -- five day banking, updation of pension and restoration of old pension scheme -- will be discussed on January 31.

The other residual issues will be discussed with respective officers and workmen unions separately.

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 was 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.