HEIGHT OF CONSPIRACY AT THE BEHEST OF IBA-UFBU NEXUS

MY DEAR FRIENDS ,

WHERE WE THE PRE- 2002 RETIREES HAVE BEEN SUBJECTED TO SABOTAGE AT THE BEHEST OF IBA-UFBU NEXUS.

YESTERDAY IT WAS 100% DA PARITY....
                         &
NOW IT'S PENSION REVISION....

PENSION SCHEME AS PER THE SETTLEMENT DATED 29 10 1993 FOLLOWED BY THE MINUTES OF THE SMALL COMMITTEE THERETO DATED 26 03 1994 SIGNED BETWEEN IBA & THE WORKMEN UNIONS

✴️ QUOTE✴️

"... The Draft circulated was mutually accepted by the parties.The following points were further discussed and accepted :

1.....
2. Formula for Up-dating pension should be on the lines of the same given in the Reserve Bank Pension Scheme

Any Change therein should be introduced only after mutual agreement"

✴️ UNQUOTE✴️

Accordingly....

SINCE THREE DECADES, THE PENSION UPDATION ISSUE HAS BEEN THE ONLY LONE LONG PENDING UNRESOLVED RESUDUAL ISSUE AS PER THE AGREED ITEMS OF THE MEMORANDUM OF UNDERSTANDING DATED 26 03 1994 SINCE ALL THE REMAINING ISSUES WERE GOT RESOLVED LONG BACK IN TERMS OF THE SAID AGREEMENT DTD. 26 03 1994

https://drive.google.com/file/d/10zkOPPWNalsqCMIXq9R8ixuschnL2Deg/view?usp=drivesdk

TO ADD SALT TO THE INJURY, EVEN OUR LEGAL BATTLE AT THE SUPREME COURT LEVEL IN OUR 100% DA ISSUE WAS ALSO DELIBERATELY SABOTISED WITH THE ACTIVE SUPPORT OF AIBRF LEADERSHIP WHO PLAYED THE _"SHIKHANDI"_ ROLE OF EPIC MAHA BHARATHA.

THE SAME SHAMELESS FELLOWS ARE NOW CLAIMING THEMSELVES AS THE SAVIOUS OF THE RETIREE FRATERNITY!!.. HEIGHT OF HYPOCRACY INDEED!!!!

AS OTHERWISE, OUR 100% DA ISSUE WOULD HAVE BEEN RESOLVED VERY LONG BACK BUT FOR THE TREACHEROUS & CUNNING ATTITUDE OF IBA- UFBU & AIBRF NEXUS.

"HEIGHT OF CONSPIRACY" ....

BELATEDLY, TO GIVE EFFECT TO THE "PROPOSED CHANGE" BY TAKING ADVANTAGE OF THE ALREADY INSERTED "CHANGE" CLAUSE, ( quite obviously must have been a well calculated fore thought only to pre-empt the possible impending threat of any claim by the retirees in future for Pension Updation on RBI Lines !), IN THE ABOVE MOU DATED 26 03 1994 SIGNED BY IBA ALONG WITH THE UFBU CONSTITUENTS REPRESENTED BY BOTH WORKMEN & OFFICERS EXCLUSIVELY WITH AN ULTERIOR MOTIVE TO DENY RBI PATREN OF PENSION REVISION , IBA & UFBU ARE NOW MEETING ON              23 09 2022 AS PER THE NOTICE ALREADY ISSUED BY IBA AS ALREADY AGREED IN THE TRIPARTIE CONCILIATION PROCEEDINGS BETWEEN CLC,IBA & UFBU AT MUMBAI ON 01 07 2022 IN THIS REGARD....ONLY WITH A CLANDESTINE UNDERSTANDING...'

THIS IS IN THE BACKDROP OF THE PENDING PENSION REVISION CASE AT THE SUPREME COURT NOW POSTED ( FOR SUBMISSION OF IBA'S REPORT ) ON 16 09 2022

BEING THE SIGNATARIES TO THE NOTORIOUS "RECORD NOTE" UFBU's CO-OPERATION IS IMMENSELY NEEDED FOR IBA TO DENY PENSION REVISION ON RBI LINES... UFBU HAS BEEN TOING LINE WITH IBA TO CHEAT THE RETIREES AS IN THE PAST BY OVER RULING THE PENSION REGULATIONS BY HOOK OR CROOK FROM TIME TO TIME FOR OVER THREE DECADES

ULTIMATELY, IBA HAS SUCCESSFULLY HATCHED A CONSPIRACY IN COLLUSION WITH UFBU ONLY TO DILUTE RBI PATTREN OF PENSION REVISION MUCH DETRIMENTAL TO OUR COLLECTIVE INTERESTS

CONSEQUENTLY, IN TERMS OF THE CURRENT PENSION BASIC, FOR PRE-2002 RRTIREES  THE MULTIPLYING FACTOR APPROXIMATELY GETS REDUCED TO 2.78 AS AGAINST THE EXPECTED RATE OF 5.82 AS PER RBI

WITH THE RESULT,  WE GET HALF OF THE UPDATION RELIEF COMPARED TO OUR RBI BRETHERN... ie. FOR EVERY ₹100/- THEY GOT, WE WILL BE GIVEN@ ₹.50/- ONLY.

ACCORDINGLY, NOW THE IBA WILL SUBMITS IT'S REPORT TO THE COURT THROUGH    THEIR     COUNCEL       ON 22 09 2022 FOLLOWED BYTHE ABOVE SCHEDULED FORMAL "LUNCH"   MEETING  BETWEEN IBA & UFBU AT MUMBAI FOR THE MERE  FORMALITY OF SIGNING WHERE THE "CAT WILL BE OUT OF THE BAG"
ON 23 09 2022

THUS, THE FATE OF THE REMAINING RETIREES IS LEFT TO THE FUTURE UNCERTAINITY OF THE BIPARTITE NEGOTIONS AT THE MERCY OF THE IBA-UFBU NEXUS.

THANKS TO THE CALCULATED "CONSPIRACY"HATCHED BY THE NOTORIOUS IBA-UFBU NEXUS TO DILUTE THE LEGITIMATE ASPIRATIONS OF RETIREES AT LARGE.

lNOTWITHSTANDING THE ABOVE LATEST DEVELOPMENT, THE PENDING CASE (of Late MC Singla & Ors) IN THE SUPREME COURT NEED TO BE FURTHER PURSUED VIGOROUSLY TOWARDS LOGICAL CONCLUSIONS IN TERMS OF THE PENSION REGULATIONS IN FORCE, TAKING INTO CONSIDERATION SOME VALID POINTS / INPUTS AS ALREADY SUGGESTED / PROVIDED BY OUR LEARNED FRIENDS (ex. Sri N Sankara Subramanian & Sri Katari Satyanarayana, both from Indian Bank ) & OTHERS WHO HAVE SUFFICIENT LEGAL BACKGROUND ONLY TO ENSURE JUSTUCE & FAIR PLAY.

REGDS & GRTGS
lD S MURTI HYD
03 09 2022 / 18 09 2022
9989318300