Saturday, May 23, 2015

10th Bipartite Settlement - Delegation of AIBRF to IBA

We reproduce below the circular issued by AIBRF.


Shri T.M.Bhasin
Indian Bank Association (IBA )

Dear Sir
Re: Delegation of AIBRF 

 We have come to know that IBA is going to sign wage     settlement with bank unions on 25th May 2015 at Mumbai.

2.Further we have come to know that IBA is not sanctioning and including any of the demands of past  retirees in the settlement to be signed on 25th with unions. It is also surprising to learn that total pension of those retired after 1-11-2012 will get reduced in absolute term after signing the settlement affecting them adversely. Further this settlement has been finalised without taking our organisation in to confidence.

3. In view of this position, settlement to be signed is not acceptable to us and we have decided to observe 25th May ,2015 as PROTEST DAY. We shall hold demonstration at Azad Maiden, Mumbai on this day between 10.30 AM to 12.30 PM where we expect large number of retirees to participate in it.
4. We wish to submit Memorandum highlighting our issues in delegation for your consideration and appropriate action. We shall be thankful to you if you will give time to our delegation to meet you and handover the memorandum.

Thanking you

Yours Sincerely

( S.C.JAIN )


Monday, May 18, 2015

10th Bipartite settlement - Retirees Issues

From various sources it is clear that retirees issues like pension updation, 100% D.A. neutralisation, improvement in family pension etc. will not be taken care in the 10th Bipartite settlement which will be signed by UFBU and IBA on 22nd May 2015. UFBU leaders who assured publicly that they will not sign Bipartite settlement without retirees issues , now have changed their stand and are willing to sign the settlement without retirees' issues. There is a feeling of betrayal among retirees who were relying on promises of UBFU. The process of bipartite negotiations  continued for last 30 months and at the fag end of negotiation process UFBU agreed  with IBA to  sign the settlement without resolving retirees issues.

  In this regard AIBRF (All India Bank Retirees Federation) has issued circular on further course of action.


Monday, April 13, 2015

Chennai High Court sets aside Union Bank Circular on pension to CRS employees

The Madras High Court has set aside a circular issued by Union Bank of India (UBI) on August 27, 2010 denying monthly pension to employees who had been imposed with a punishment of compulsory retirement from service.

Allowing a writ petition 15766/2013 filed by one such employee, Justice K.K. Sasidharan held that the circular was in contravention to Union Bank of India (Employees) Pension Regulations, 1995 which provide for payment of pension even to those who had been retired from service compulsorily.
Allowing a writ petition filed by one such employee, Justice K.K. Sasidharan held that the circular was in contravention to Union Bank of India (Employees) Pension Regulations, 1995 which provide for payment of pension even to those who had been retired from service compulsorily.

The judge pointed out that the Bank had framed the regulations at the time of introduction of a pension scheme for its employees in 1995. But then, some of the employees failed to submit applications expressing their desire to be a part of the scheme. Hence, acting on the basis of a general advisory issued by Indian Banks Association to all financial institutions in the country, UBI issued a circular in August 2010 providing one more chance to its employees to avail the benefits of the pension scheme.
However, the circular stated that only those who take voluntary retirement would be eligible to monthly pension and not those who had been retired compulsorily as a mode of punishment following disciplinary proceedings initiated against them.
Holding that such a restriction on grant of pension was not in consonance with the provisions of the pension regulations framed by the bank in 1995, the judge said that a circular could not override the regulations which were statutory in nature.
“The circular is only for the purpose of giving another option to join the scheme. The pension scheme remained the same… Therefore, as on today, there is a valid regulation providing for pension to the compulsory retirees.
“In case the bank is of the view that the pension should be restricted to those who have retired voluntarily, they should make corresponding amendment to the pension regulations,” the judge added.

Saturday, March 7, 2015


In Writ Petition 507/2012 filed by United Bank of India   Retirees’ Welfare Association and Others against United Bank of India and Others, Kolkatta High Court has directed the Board of the respondent bank in consultation with the Central government and the Reserve Bank of India to take a reasoned decision, in the light of the observations and findings regarding payment of 100% dearness relief to the pre November-2002 retirees’ of the respondent bank by 30th June, 2015. 
 Let us hope that IBA will change their attitude towards senior citizen retirees and resolve the issues of pre 2002 pensioners without any delay.

Monday, February 23, 2015


In todays (23rd Feb'15) wage revision talks held at Mumbai, under 10th BPS, by Bank Unions (UFBU) with IBA has settled at 15% hike (Rs.4725 cr) w.e.f 1.11.2012.

2nd and 4th Saturday's will be holidays and other Saturday's will be full working days. Strike deferred .

Now let us hope that retirees issues will also resolved in coming days.

Click here for IBA Circular