The strike call was to protest termination of P V Mohanan, General Secretary of Dhanlaxmi Bank Officers' Organisation.
"As management of Dhanlaxmi Bank has decided to favorably considered the case of reinstatement of Mohanan, we have decided to defer the strike," All India Bank Officers Confederation (AIBOC) General Secretary Havinder Singh told PTI.
Mohanan is also AIBOC, Kerala State President. Dhanlaxmi Bank is an old generation private sector bank based out of Kerala.
The bank is taking all necessary steps for smooth functioning of bank branches on the day of strike, if it materialises, Bank of Baroda said in a statement.