WITH WHAT AUDACITY IBA BEHAVES LIKE AN EXTRA CONSTITUTIONAL AUTHIRITY TO DEFY OUR HON'BLE FM EVEN ??? A MILLION DOLLAR QUESTION!!!
My Dear Friends,
Referring to the above, I annex here the following :
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LATEST UPDATE ON THE PROCEEDINGS IN THE SUPREME COURT AS ON 21 11 2023 AS REPORTED BY COM.Dr.JD SHARMA OF "ARISE" OF IOB RETIREES ORGANISATION:
QUOTE:
MC Singla case in Supreme Court was listed at CL No. 27 in Court No. 11. A senior advocate CU Singh appearing for All Kerala Bank Retirees Federation mentioned for its petition to transfer their case from Kerala High Court to Supreme Court be allowed. After hearing, the Court declined to allow their petition and rather dismissed the same on the ground that outcome of the case will be applicable for them too. Their petion was thus dismissed with a rider that when arguments take place they also can be heard. Mr Singh requested the Court to keep the petition pending instead of dismissing. It was agreed to by the Court. They were advised to argue before Kerala High Court where their case is pending. Later some other organisation of UCO Bank retires requested for being allowed as Intervener. It was disallowed. Their request for being heard while arguing the case was also not acceded to.
Court then asked as to who was appearing for the Govt. Counsel for IBA said that they are contesting. Court then asked about a High Powered Committee having been set up earlier. IBA replied that committee declined to give any relief and hence they were now willing to contest. The Court wanted to hear it on the day/s of Non-miscellaneous matters and ordered the matter be listed for arguments in March 2024 - any Wednesday or Thursday. Our Senior Counsel explaining the urgency requested for arguments to be allowed to commence. But since there are many parties and respective Senior Counsels, the Court reiterated for regular arguments on Wed/Thursday in March 2024 as the Board for Wednesday/Thursday was full upto February 2024.
Our Advocates will keep track and try for a suitable listing which helps the case being heard in March 2024.
Regards,
Dr J D Sharma
UNQUOTE
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My Dear Friends,
Sharply reacting to the above, our senior learned friend and also a Veteran Leader from SBI Com. M.yunus garu vociferously commented as to the UNWARRANTED BEHAVIOUR OF THE IBA AS IF "AN EXTRA- CONSTITUTIONAL AUTHORITY"
THE SAME IS ALSO ANNEXED HERE FOR YOUR INFORMATION:
MY AUDIO LINK: SBI.HYD. M YUNAS & DS MIRTI 22 11 2023
https://drive.google.com/file/d/13ZQlZVe6Zxd-R7lMV-2NfcUB2fbj-iWc/view?usp=drivesdk
MY HEARTY CONGRATULAIONS TO MY LERNE FRIEND & A VETERAN LEADER COM. YUNAS GARU FOR HIS THOUGHT-PROVOKING & FORTHRIGHT EXPRESSION.
CONTENTS ARE SELF EXPLICIT:
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QUOTE
22.11.2023 YUNUS M :
Proceedings In Hon'ble Supreme Court in MC Singla Case 21.11.2023
Quote: Court then asked as to who was appearing for the Govt. Counsel for IBA said that they are contesting. Court then asked about a High Powered Committee having been set up earlier. IBA replied that committee declined to give any relief and hence they were now willing to contest. UnQuote
The aforesaid Statement Coming as it Does From the Counsel For IBA Is Extremely Disappointing as well as Surprising
This Means that a Committee Constituted with a Specific Mandate to Look into the Question of Updation of Pension of Bank Retirees (Under the Directions Given In Public By the Hon'ble Finance Minister), has ABDICATED ITS RESPONSIBILITY SUCCUMBING TO THE PRESSURE OF WEAK III RUN BANKS ON THE ONE HAND & CHV ON THE OTHER.
The Following Note Prepared By me more than 03 Years Back testifies to the Veto Power Being Excercised By some in the Decision Making Processes of the Indian Banks' Association. "Role of Mismanaged Weak Banks and Incompetent Top Level Funtionaries of these Banks in the Decision making Processes of IBA "
As far as my Memory serves me Right, all Member Banks do not Pay an Equal and Same amount of Annual Subscription to Indian Banks' Association.
The Annual Contribution of each Bank was linked to its Balance Sheet.
This would and should imply that that all Members are not to be treated as Equals.
It defies Common sense as to why a Mismanaged Failing Bank which Pays, only Rs.5 Crores, should have the same Say in IBA's Decision Making Processes as the Well Managed Bank which Pays Rs.100 Crores.
The Point to Ponder over is the Disproportionately larger Say in the Decision making Process of IBA, these small Banks are weilding.
"They are even defying the Instructions of the Hon'ble Finance Minister,who had Publicly displayed enormous empathy for the long suffering Pensioners."
I FEEL A CAMPAIGN TO EDUCATE.THE PUBLIC ABOUT THE UNDULY LARGER SAY INEFFICIENT BANKS HAVE GOT IN IBA AS A REWARD FOR THEIR INCOMPETENCE
"Well Run Banks like SBI headed by highly Professional and extremely Competent Bankers are forced to defer to the wishes of Small Banks".
This is a Systemic Incongruence, which needs to be addressed fast by all the Stake Holders, lest Incompetent hold the Entire Industry and the Efficient to Ransom.
YUNUS M
22.11.2023
:UNQUOTE:
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PENSION UPDATION ISSUE - WHAT IS IN STORE..??.. "sans(sænz)" RBI PATTERN..??
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AIBEA Cir.No.21/051/2023 /75 dated 10 11 2023 regarding the Bipartite Discussions between UFBU & IBA held at Mumbai on 09 11 2023
https://drive.google.com/file/d/1bomI8WQtv1Fzfb1ajo1jpu6Ox4qHAZnf/view?usp=drivesdk
::QUOTE::
"...Regarding Updation of pension, IBA explained the cost implications of the same but indicated that they are trying to workout some "POSSIBLE SOLUTION" to improve the pension of all past retirees: Post 01 01 1986 TILL 31 10 2022. THIS ISSUE NEEDS TO BE FURTHER DISCUSSED...."
::UNQUOTE::
( From the above, it goes without saying that the pension updation to all the pre-2002 RETIREES stands almost resolved as per the understanding already reached in the CLC meetings that were held during January/ February early this year itself )
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ONE THING IS FOR SURE & CERTAIN ... THAT, PENSION UPDATION "sans(sænz)" RBI PATTERN INVARIABLY WARRANTS UFBU'S INTERVENTION IN TERMS OF THE MOU ALREADY SIGNED ON 26 03 1994 ITSELF.
IN CONFORMITY TO THE ABOVE, THIS CANNOT BE RULED OUT OWING TO THE CLANDESTINE UNDERSTANDING BETWEEN IBA & UFBU DURING THE LATEST CLC PROCEEDINGS THAT WERE HELD IN THIS REGARD EARLY THIS YEAR AT NEW DELHI FOLLOWED BY MUMBAI- Ie: 24 01 2023, 31 01 2023 AND 07 02 2023.
THEREFORE,TO DENY PENSION UPDATION ON RBI PATTERN, IBA NECESSARILY NEED UFBU'S "CO-OPERATION" - A PRE-EMPT MOVE ON THE PART OF IBA-UFBU NEXUS AS IS EVIDENT IN THE DFS/MOF COMMITTEE'S REPORT DATED 25 10 2023 AS ALREADY SUBMITTED TO DHC "HINTING" AT THEIR ABOVE "HIDDEN AGENDA"
IN VIEW OF THE FOREGOING, EXPECTING PENSION UPDATION ON RBI PATTERN SEEMS TO BE FAR FROM THE REALITY.
With Greetings & Regards,
|| यतो धर्मस्ततो जयः ||
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