The conciliation meeting before the Chief Labour Commissioner between the unions and IBA has failed to find an amicable solution, United Forum of Bank Unions (UFBU) convener C H Venkatachalam told PTI.
Banks have already informed customers about the likely inconvenience if the strike call materialises.
A section of banking employees may take part in the proposed strike on Wednesday impacting the normal functioning of branches or offices, various public sector banks have said in their advisories to customers.
General Secretary of National Organisation of Bank Workers, Ashwini Rana said Indian Banks' Association (IBA) held discussions with UFBU on December 14 on wage revision. After a lot of discussions, IBA stated that they would be able to offer an increase of 5 per cent over the wage expenses.
Since their offer was too low and not acceptable to the unions, it has been decided to go ahead with strike as per the schedule, Rana said. The wage revision of bank employees was due from November 2012.
UFBU is an umbrella organisation of nine bank employees and officers unions.
There are 27 public sector banks in the country with employees strength of about 8 lakh.