Public Sector Bank unions have "deferred" their strike after bankers' body IBA succeeded in persuading them not to go for a  two-day nationwide strike on wage-related and other issues from February 25.

An MoU is likely to be signed between Indian Banks Association (IBA) and the United Forum of Bank Unions, which had called for the strike, later today in Mumbai on various demands of employees, union sources said.

The unions are demanding early settlement of wage revision, second option for employees to go for pension scheme and compassionate appointment, among other things.

They are also protesting against merger between PSU banks. Earlier, a conciliatory meeting called by Chief Labour Commissioner S K Mukopadhyay on Friday and another by the IBA on Saturday had failed.