he IBA has recognized the gravity of the problem of non-revision of Pension for earlier Retirees, w

Oh ! It appears there is a problem.! IBA recognizes. D Krishnan feels so. Let us see what he writes.

FEDERATION OF RETIRED LIC CLASS I OFFICERS' ASSOCIATIONS   

President :    N.P. Bali 705, Sur, Veena Saaz, Thakur Complex, Kandivali (East), Mumbai - 400 101 Mob : 9820324213 Email Id - npbali@hotmail.com

General Secretary :    D Krishnan No.6/1, Sreshta Riverside Apartments, Wood Creek Road, Nandambakkam, Chennai - 600089 Tel : 9176635967 / 044 42850049. Email Id - dkrishnan1@gmail.com

Ecircular No.DK/12                                                    29-02-2020

Friends

Reg:...... Bank Negotiations today .....

Today's Discussions between the IBA and the Bank Unions, seems to have reached a stage, when it might be termed as final more or less. The Tone of the Reporting in the Circular of the United Forum of Bank Unions suggests that they may not be interested in dragging this matter further.  I am reproducing here the substantive part of their Circular issued today after the Talks with the IBA.

CIRCULAR No.UFBU/2020/07 Date : 29.02.2020 TO ALL CONSTITUENT UNIONS/MEMBERS Dear Comrades, Bipartite Talks with IBA today – Strike action deferred Further to our successful 2 days strike on 31st January and 1st February, 2020, today, one more round of bipartite talks was held in IBA office in Mumbai. IBA team was led by Shri Rajkiran Rai G, Chairman of the Negotiating Committee. We were represented by our 9 constituent unions. After a lot of discussions, the following points emerged today:

 • Offer on Pay slip cost increased to 15%. • Our demand on 5 Day Banking will be taken forward by further discussions.

 • Our demand for loading more than 2% will be considered by a Joint Committee of IBA and UFBU.

 • In addition to 15% offer, encashment of Privilege Leave at 5 days per year.

 • Improvement in Family Pension – matter recommended to Government, will be expedited.

 • On updation, IBA agreed that some improvement in the Pension would be worked out for the retirees of earlier settlements period by working out the cost.

 • Revised offer on PLI was given at 1.37%, 2.74% and 4.11%.

IBA agreed to discuss all other issues through further discussions. In view of these positive developments, all our agitational programmes including the ensuing 3 days strike from 11th March, 2020 stands deferred. We congratulate all our unions and members for their unity and co-operation due to which the improvements as above could be possible. Further negotiations will continue at the earliest and it would be our endeavour to reach a full-fledged settlement at the earliest. With greetings, Yours comradely,

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What seems significant is that the IBA has recognized the gravity of the problem of non-revision of Pension for earlier Retirees, who are left far behind the market realities. This promises some thing for us too, if the expected improvement happens for Pensioners in Banks. That is precisely the principle we have been suggesting for our Pensioners too.

 

There is also some indication in the Cause List of the Supreme Court as regards our next Date for Hearing of our Case in the SC. But then it is a kind of sketchy information without adequate accuracy regarding details, including the Date, and the Court in which the Hearing would take place etc.

The Advance list for 17th March 2020 includes the batch of all 6 SLPs. But we have to wait for the Regular list which will get released on the eve of 13th or on 14th March 2020 when the position will be clearer. 

We shall keep you informed as and when more details are available. With Best Wishes,

D.Krishnan