Employee Unions of public sector banks today withdrew their four-day nation wide strike proposed from the 25th of this month. The bank unions have called off their strike following an agreement with the management on 15 per cent wage hike in their pay-packets. At a meeting in Mumbai, PSU banks' employees unions and bank management, Indian Banks' Association, IBA, agreed on wage revision with effect from November 2012. The banks' unions demanded 19 percent hike in their wages but the settlement worked out on 15 percent. Last week, Finance Minister Arun Jaitley had appealed to bank employees unions to call off their strike as talks were on for a revision of wages of employees. There are 27 public sector banks in the country with a combined employee strength of about 8 lakh. There are about 50,000 branches of these banks across the country.