Role Played By UFBU Appears Questionable

Sri S. K. Bandlish,
Convenor,
UFBU,
Chandigarh

Dear Sir,

      PROPAGANDANISTS OUT TO
      MARKET 12% OFFER AS BEST
          OFFER, STOP IF U CAN!
          --------------------------------------

We request you to please wake up from slumber. Midgets of your certain constituents are over enthusiastic and have started marketing 12% offer as the best offer.

We hope, you are well aware, some of constituents have had gone on record long back that even 9% rise was bigger in money terms than the last time. We don't know, whether you have made last time 'amount' as benchmark or want to say that that was the highest increase? Last time increase fell quite below the expectations. Your constituents had to do a lot of marketing among bank men to satisfy them that the then increase was ideal one.

You shouldn't forget that last time,  LIC clinched over 17% increase as against yours 15%.  Today, again your some constituents have started propagating, while nothing is decided so far.How is this, none of you seem to be question ing. Should the Bank men believe, you all have common view on 12% increase as ideal! Or, no guts to ask or mettle to counter it to be wrong on mathematical grounds. Broadly, please note, 5 years increments, un-matching compensation to price rise,  inflationary loss of money value, increase in work load,  wages in other govt establishments, risk & responsibilities factor etc appears to have been compromised or all forgotten. How 9% rise is bigger than last time's 15%? By this measurements, next time in 12th B/S 6% rise will be held bigger and in 13th Settlement 0% rise, so will not need any increase! What's the fantastic idea, your constituents are doing around?! Please, Come out of fallacy and cheating innocent bank men. Don't treat them as bonded labourers.

Your leading constituents have hit the Retirees below the belt. We think, you don't need to be explained as to how you all ditched Retirees in past. This time again your constituents are propagating fund paucity, truly more effectively than IBA crooks. By the way, banking fraternity wants to know the pact, you or your some of constituents have with IBA? Please reveal considerations, if any?

So far there is nothing authentic with regard to Pension Funds. Then, how in advance such strategic marketing is being done by your constituents for IBA? Does it need to recall that Pension was a quid-pro-quo deal. Bank men had have been complying their term. Funding is defined in Scheme. Is there any term with regard to funding that cast any responsibility on bank men, other than this that  they would surrender banks' share of PF contributions?

Is there any clause that  entitled IBA/ Banks to ask bank men sharing the increased pension cost from sanctioned wage load? Is it there? Answer is no. Then please explain why you all have been sharing 50% of increased pension cost in all wage settlements from load amounts? Do you need to be reminded to please read Pension Agreement of 1993? If in Pension Regulations, 1995 there was a mis, was it not for Unions to get rectified?

IBA could in past succeed on number of occasions to dent Pension Regulations, 1995 detrimental to Pensioners' interests, but you couldn't succeed for once to bring in 'periodical revision' term till now. Further, please inform us if there is no specific term of Revision in Regulations, 1995 is there any specific mention of ' no revision' or pension is 'fixed for once' only?. In absence of specific law, issues are settled on conventions. If law is silent, then the practice is treated as law. Should we reminder that Banking itself is run on 'Law & Practices'. Please draw inference from conventions & practices in pension matter in Indian context and get pension revised, as done in RBI.

As we said in our earlier communique, we reiterate that even 18/20% increase would not be enough to satisfy minimum expectations of bank employees. Your constituents are hilarious on 12%, which amounts to betrayal.

Please, therefore, take a serious view of such fissiparous tendencies and concentrate on settlement of wages, pensions, service conditions related issues expediously to tide over the mounting anger & anguish of banking fraternity.

Greetings,


(J. N. Shukla)
National Convenor,
Forum of Bank Pensioner Activists,
Prayagraj
22.11.2019

cc to: all constituents.