Friday, May 7, 2010

BANK WAGE SETTLEMENT : THE FINAL POSITION.

Following are some useful links regarding 9th Bipartite Settlement for Bank Officers and Employees.


Memorandum of Settlement for Workmen [Clerk and Substaff]


Salient Features of 9th Bipartite Settlement


Joint Note regarding salary revision of Officers


Joint Note regarding Pension Settlement


Bankers are not happy over this settlement. See the reasons below.
(a) Increase of merely 17.5% in gross wage increase (which at lower levels is merely 14% or so).  Thus, disparity between Central Government employees / State government employees and Bankemployees has widened. 

(b) The existing employees who have been offered an option to opt for the Pension Scheme, have been asked to shell out 2.8 times of their Pay of November, 2007.  The works out to be around Rs.40,000 to over Rs.1,20,000 for various segments of the employees / officers;
(c) The worst part is that even the retired personnel are required to pay 156% of the the bank's contribution in case they wish to join the pension option.  These retired personnels have to additionally contribute upto Rs.6,00,000/- (i.e. the amount over and above they received at the time of retirement as bank's contribution) towards the pension fund.
(d) Even worse is the plight of the retired personnel who have retired after 01-11-2007. The wage revision settlement was due from 01-11-2007 and these bankers who were in service as on that date, were always under the impression that this fight for the pension option will be available at least from the date when wage revision was due.  However, IBA has not agreed to this and have signed agreement wherein only those employees / officers who were on the rolls of the banks as on 27-04-2010 will be eligible for lower payment of contribution.
 (e) Bank employees are worse off in almost all respects.  It may be HRA (in case of central government it is 30%, as against around 10% for bankers);  transport allowance; educational allowance, grade pay (there is no grade pay in banks for officers);  medical benefits (no medical facility after retirement in banks);  pension facilities (no revision of pension as and when salaries are increased in banks); leave encashment upto 240 days only;  child care leave not available in banks etc etc. etc. The list is very long.  In nutshell we can say that there bankers are nowhere near the facilities enjoyed by the central government. 
(f) Bankers working days are still 6 days and working hours normally extend by 2 to 4 hours on daily basis, depending on the workload at the branch / administrative office.  In Central government offices (NOW EVEN IN RBI) it is 5 days week.  All Stock Exchanges also work in India only on 5 days a week.
(g) Banks are earning huge profits and all PSU banks regularly contribute to the kitty of the government by paying dividend.  As and when there are more deficits in the government, a "firman" is issued by the Finance Ministry to the banks to pay "interim dividends".   As and when loans are waived, banks have to bear a part of the cost of these loans - in the shape of principal waivement or waiving of the interest.   On the other hand, central government employees are paid by resorting to deficit financing.  Even the retired government employees get full pension benefit on the revised scales.


By Courtsey : Allbankingsolution.com

30 comments :

shilpi said...

help

akhilesh said...

since gratuity bill has been passed by both lok shabha and rajya shaba can any one know date of affect of this bill in reference to Bank employees.

SHANKAR said...

Referring to Akhilesh-May 8, 2010 8:25 AM
Sri Mallikarjuna Kharge, labour Minister has rejected the demand from various quarters to give effect from 01/01/2006 for payment of gratuity.
AIBOC website says that they have requested to the labour minister for payment of gratuity with retrospective effect for bank employees.(04/05/2010)But what happened thereafter is not available.

chandan said...

LEVY ON ARREARS OF WAGE REVISION:
------------------------------------------------------------------------------

ALL INDIA BANK EMPLOYEES' ASSOCIATION(AIBEA)

CIRCULAR LETTER NO: 26/54/2010/15 DT: 29/04/2010.

A) For existing PF optees:(who will be opting for pension now)

4% of the Net arrears (Gross arrears - PF -Amount payable@ 2.8 times of November 2007 pay towards option) received by the members before Income Tax.


B)For all other members:

4% of the Net arrears (Gross Arrears - PF) received by the members before Income Tax.


NOTE:
------------

Needless to reiterate that wage revision is an occasion when members can contribute financially to the Unions. Levy is mandatory and obligatory and is not to be treated as a donation. Hence all our Unions at all levels should ensure that levy is collected from each and every member.

With greetings,

Yours comradely,

C.H. VENKATACHALAM
GENERAL SECRETARY

Mohan.V.R. said...

Can any one clarify when this 2nd offer will be made?

MADAPPA said...

IT APPEARS THAT MR CHV IS CANVASSING FOR LEVY THROUGH THIS BLOG WITH THE HELP OF HIS FOLLOWERS. THERE IS NO GAIN TO MEMBERS IN REAL TERMS. IT IS SHAMELESS TO ASK LEVY. MEMBERS ARE VERY MUCH INTELLIGENT AND WILL DISPLAY THEIR ANGER IF LEVY ASKED.

SUCH OF THE MEMBERS SHOULD DESIST FROM ADVOCATING THE LEVY.

chandan said...

Good news for PF optees who are to opt for pension. Union is to spare them to an extent and to charge levy only on the net arrears after deducting of 2.8 factors.This time levy amount on pension optees is much more than PF optees as decided by the union.

Thanks.

satishh said...

levy,levy,levy

there should be some limit for levy because more the delay more arrears and more levy.it was in hands of ufbu to delay bipartite for more 2 years.then they should have got more amount as levy.
all concerned do not pay levy more than rs 500/- as this is in addition to normal subscription.

MADAPPA said...

NO LEVY!, NO LEVY!!, NO LEVY!!!.

UNIONS ARE ALREADY HAVING SUFFICIENT MONEY WITH THAM. THERE IS NO NECESSITY OF LEVY THIS TIME. IF LEVY IS CONTRIBUTED IT WILL DIRCTLY GO TO FILL THE BELLY OF THE USELESS LEADERS AND IT WILL AN ENDORSMENT FOR ALL THEIR SHAMELESS ACTS. BEGGING FOR LEVY, ADVOCATING FOR LEVY ARE SHAMELESS ACTS. UNIONS LEADERS ARE CANVASSING THROUGH THEIR CHAMCHAS FOR LEVY IN THIS BLOG ALSO.

MEMBERS, BE AWARE ABOUT SUCH PEOPLE AND IGNORE THEM.

chandan said...

WHY BPS IS DELAYED???:

"Once the wage is settled the workers are required to dole out a levy i.e. a percentage of the arrears of their revised wages to their trade unions which they belong. Obviously you understand the trick, more the delay in wage revision, more the amount of arrears so bigger the amount of levies! Surprised! but this is the norm of wage negotiations and despite of deep resentment amongst the workers (whose voices are always suppressed) for the delay and the undue levy, the practice is on ever since bipartite wage negotiation between Indian Banker’s Association and several trade-unions"

prasad said...

Sir
The amount payable on PENTION OPTION will be adjusted while paying the arrears or will it be separate transaction kindly let me know and when are we getting option letters to exercise

akgoel said...

venugopal cheriyachanaseril

EVALUATE THE GREAT CONTRIBUTION TO BANKING SYSTEM-

HAS ANY ONE MADE IDENTICAL CONTRIBUTION IN HISTORY?

Seventeen listed PSBs made incremental profits of 22,502 Crores over 2006 during the three ensuing years. During 2003 -2006 the unscrupulous Bank Chairmen fought among themselves and pulled the legs of one another most unethically using the deregulated interest rates, allowing interest concessions up to 6 percent to potent borrowers. When IBA said, banks did not have financial muscles to bear the burden of Pension, I criticized them and pointed out the process of debilitating of the Banks by those who are to strengthen them. In 2006 August, the lethal interest rate war and take over mania almost came to an end. I mooted vehement criticism to RBI, MOF etc. saying that "thanks to the efficient monitoring of Banks by RBI by keeping their men as directors on board the different banks, even a PSB viz. New Bank of India vanished into obscurity; RBI changed the nomenclature of their director as "Nominee Director". The change was announced by CNBC Channel in August, 2006. The stoppage of the interest rate war resulted in soaring profits for all Banks in Public and Private Sector. The incremental Profits over the year 2006 for the next three years for 17 listed PSBs were to the tune of Rs.23,670.00 Crores. SBI, Associate Banks and Private Sector Banks too must have made incremental profits totaling double of the amount for the 17 Banks. It is after contributing to the Indian Banking system about Rs.70,000 Crores that I pressed the demand for Pension Option. The actuarial assessment of the deficit in Pension Fund was Rs.6,000 Crores, i.e. just 10 percent of the incremental profits of the three years.

Profits of Eighteen listed Public Sector Banks in India (excepting banks that are not listed) during the past five years:

akgoel said...

IN CONTINUATION OF THE ABOVE POST


March
March
March
March
March


2005
2006
2007
2008
2009

Punjab National Bank
2707.21
2874.77
3230.64
4006.24
5744.35

Bank of India
340.05
701.44
1123.17
2009.4
3007.35

Union Bank of India
719.06
675.16
845.39
1387.03
1726.55

Central Bank of India
357.41
257.42
498.01
550.16
571.24

Canara Bank
1109.51
1343.22
1420.81
1565.01
2072.42

Indian Overseas Bank
651.36
783.34
1008.43
1202.34
1325.79

UCO Bank
345.65
196.65
316.1
412.16
557.72

Syndicate Bank
402.90
536.50
716.05
848.06
912.82

Allahabad Bank
541.79
706.13
750.14
974.74
768.6

Vijaya Bank
380.57
126.88
331.34
361.28
262.48

Bank of Maharashtra
177.12
50.79
271.84
328.39
375.17

Corporation Bank
402.16
444.46
536.15
734.99
892.77

Indian Bank
408.49
504.48
759.77
1008.74
1245.32

Dena Bank
61.00
72.99
201.56
359.79
422.66

Bank of Baroda
676.84
826.96
1026.47
1435.52
2227.2

Andhra bank
520.1
485.5
537.9
575.57
653.05

Oriental Bank of Commerce
760.81
803.16
826.81
840.94
905.42

Total
10562.03
11389.85
14400.58
18600.36
23670.91

Profit above March 2006 level (Incremental Profit)


3010.73
7210.51
12281.06

Total Profit hike for all the three years


22502.30


The Loan waiver for building Vote Bank for Congress before the General Election was Rs.70,000 Crores. The loan waiver for the past three years by banks was to the extent of Rs.25,000 Crores. While they could easily accommodate Rs.95000 Crores on write off, banks were pleading paucity of funds to meet the Pension burden in spite of the progressive and cumulative Net Profit figures. A major portion of the incremental profits of Rs.70,000 Crores can be reasonably attributed to my work as the take over mania of banks and unethical competition by using the lethal weapon of reduced interest rate stopped almost as a result of my criticisms put forth. Any one may evaluate whether any individual has made such a fantastic contribution to the Banks and Financial Sector of the country without taking any remuneration or compensation, while those responsible for strengthening banks were fighting with each other and debilitating the Banks. Please justify the demand of IBA for recovery of Rs.6000 Crores from employees to make good the identified "actuarial deficit" which was only a statistical gimmick by those who are paid by IBA for the exercise.C N Venugopalan Ex-Manager Union Bank 09447747994, ceeyenvee@gmail.com

chandan said...

PAYMENT OF ARREARS OF NINTH BPS STARTED. TODAY MUMBAI BASED CENTRAL BANK OF INDIA ISSUED ORDERS FOR PAYMENT OF ARREARS. OTHERS WILL DO VERY SOON. SBI IN JUNE, DUE TO BANK LEVEL SETTLEMENT TO BE SIGNED IN THE AREA OF SPECIAL PAY, PENSION AND SCA.

Thank

Pratap Chandra said...

It is strange that after the settlement every body realised how they are cheated!The fact is that ever since unions accepted the Load Factor concept,increase is limited with in the load. Why crying now, what these members were doing all these years.Secondly in pension issue too why the unions agreed for sharing the deficit in pension fund when in no other PSU or govt service such a practice not there. Instead of indulging in blame game in anger or anguish, let us concentrate how to challenge IBA's mischief through court of law.Bank employees through out the country wish some genuine and reliable bank men should come forward to take the responsibility for filing a writ in supreme court of India against the sharing concept pushed through by IBA.I am sure if such a move allowed in Banking industry than in future the same will be repeated in other sectors. It is the right time to challenge IBA for asking for contribution over and above 10% to pension fund.Already eminent jurist V R Krishna Iyer's letter to PM written in 2008 gives us hope to fight for our right.Let us think in that line

Jay Vijay said...

Not Only Pf Optees even pension optees are worried about their future.

Many Bankers from Mumbai have now started realising whether pf optee or pension optee that this carrot of pension is doled out to the bankers is not for their bankers security but for the social security of the people at the helm.
Those who have joined banks just after nationalisation i.e in 1970 to 1975 are now at the senior posts which have got good wage revision in comparison to officers of scale 1,2,3 and workmen.
and all these members are about to retire by 2012 and based on 2008 actuarial assesment the pension fund is depletig at a faster rate then expected . Bank managements & Iba are worried as it is the seniors at Iba are also from these groups who are likely to retire in 2012.
If the pension fund is depleting based on 31-3-2008 acturial report How will banks pay the pension and above all the commutation to these likely to superannuate by 2012.

And there is no hope from Govt to help these banks so only source left is Pf optees bank contri fund which if is merged with pension fund this is something to the extent of Rs 16000+ crores on which these bank management have an eye. Only option to get this fund was to dole out carrot of pension to pf optees so that they will give in writing to transfer the banks pf contribution to pension fund.

So this is a Ponzai scheme played upon the pf optees

contd

Jay Vijay said...

Now these pf optees have started realising that what they are going to stake if they opt for this pension carrot. Even the pension optees are worried because they are now worried whether at this state will they get pension will they be allowed to take volantarily retirement at their will . How is Bank going to mint money Banks are not Owners of Mint like GOI that can lay hands on any amount

So this settlement has disclosed many inefficiency of bank pension fund Trutees which are not managed properly and who knows for sure whether pension fund gap recovered in 6/7/8bps is deposited by these banks in pension fund
Unless respective banks dont come out in open with these account details
Pf opettes are now doubting this pension scheme.
If you see the varios settlement you will come to know that
Pension load has been shared equally from all the employees irrespective of PF and Pension optee since 7th settlement (year 2000) detail of which are as below:-

2000
7TH BIPARTITE
8.25% LOAD WAS SHARED BY ALL THE EMPLOYEES

2005
8TH BIPARTITE
9.25 % LOAD WAS SHARED BY ALL THE EMPLOYEES

2009
9TH BIPARTITE
13% LOAD IS BEING SHARED BY ALL THE EMPLOYEES.

Banks have contributed 10% pf and have recovred the same from us from all (pf & pension) optee since last all settlements:
In 2000 settlement workmen shared 8.25% pension fund gap so actually banks pf contribution works out to just 1.75% and not 10%
In 2005 settlement worken shared 9.25% so actual banks pf contribution was just 0.75% and not 10%
and in this 9 bps the pension fund gap shared by workemn is 13% so in fact workmen has to give from his pocket 3% which is as good as 2.8% of nov 2007 pay
So all these 15 years banks have actually not contriuted any pf contribution and this gap is increasing day by day so once and for all these seniors at Iba who are also to be superannuated by 2012 made a game plan with the help of Unioun leaders to get their hand on the pf optees 16000+ crores so they can get their pension & commutation and then all the pension optees who have yet to retire after 2012 are at their mercy of these banks management.
So it would be like first come first served.
A Big fraud is being played upon in day light.

contd

Jay Vijay said...

Now pension optees from Mumbai are thinking that it would have been better if they had a 3rd option like sbi for pension or pf.

So many pf optees from Mumbai are thinking to not opt for pension and see the position by 2012.
and this is making existing pension optees more worried because they are not sure about whether they will get pension or will be allowed to reitire early easily .
Even they are now talking that had this iba didnt put the full load of 2.8 only on pf optee then pf optee would have joined this ponzai scheme This 2.8 times have made these pf optees take due deligence.
And this game of Iba along with Union leaders support is going to fall on its own face.

Just see the tamasha before 2012.

More skeletons would be unearthed when i ever i will get The true inside story.
I personally envy these pf optees because if they dont join this pension ponzai scheme what would be our (pension optees ) fate.

From where will our banks get the money to pay us after 2012 big super annuation festival

In fact now we all pension optees should enforce our union leaders to force Iba/Govt to grant us option to either opt pf or pension at the time of retirement.
Till they dont get us this facilty we pension ptee should stop the monthly union fees and also should not pay levey like what pf optees are going to do here from Mumbai.
if 80% of the pf opttes dont join this pension ponzai scheme then Iba & Govt will bring more lucrative offer by next year so that they can lay their hand on pf optees bank contribution kitty of Rs 16000 crs.
Looks like History is going to be repeated like in 1993/1995
It looks like this pension is going to fail and there would be very few takers like it happened in 1993 and very soon next year Iba will offer another option .
This is the only option now for Iba left to lay its hands on the banks contribution of pf opteees of 16000 crs.
See How this Union leaders have befooled pf and pension optees for so many years and still they want levy ?

MADAPPA said...

NOW THE FRAUD COMMITTED BY THE IBA AND UFBU COMBINE ON INNOCENT BANK EMPLOYEES IS SLOWLY LEAKING.

THIS I HAD PREDICTED A MONTH BACK BACK. IT IS SURE THAT THE BANKS HAVE NOT CONTRIBUTED AS AGREED, THEIR SHARE AS AND WHEN DUE AND ONLY RECOVERED THE EMPLOYEES SHARE TOWARDS THE PENSION FUND. IT IS NATURAL THAT THE FUNDS MUST FALL SHORT. THIS FRAUD IN COLLUSION WITH UFBU LEADERS WILL CONTINUE UNABATED. BANK EMPLOYEES HAVE TO FIGHT IN ONE OTHER WAY. FILING A WRIT AFTER AVAILING PENSION BENEFIT IS BEST SOLUTION. ALL THE MURKEY DEALS OF THE UFBU AND THE MISCHIEF OF IBA/INDIVIDUAL BANKS GET EXPOSED.

HAVING NO EXPLANATION TO OFFER AND NOT BEARING THE UMILIATION IN COURT, THE BANK MANAGEMENTS HAVE TO SURRENDER AND REFUND THE EXCESS RECOVERY MADE FROM THE EMPLOYEES.

HENCE, I REITERATE MY DEMAND NOT TO PAY LEVY TO THE ASSOCIATIONS AND INSTEAD WITHHOLD THAT AMOUNT TO BE CONTRIBUTED TOWARDS COURT CASE TO FILED AFTER PENSION OPTION.

Skumar said...

IF ANY PF OPTEE OR UNION WANT TO DO FOR PF CPF OPTESS AND WANT TO FILE ANY WRIT OR PITITION IN COURT THAN SHOULD BE FILE BEFORE PF OPTEES WILL OPT PENSION OPTION.ONCE PF OPTEE WILL OPT PENSION AND SWICH OFF FROM PF TO PENSION THAN HE HAS NO RIGHT TO FIGHT AGAINST IBA AND UNION.IF ANY FORUM TOLD YOU FOR FIGHT ON BEHALF OF YOU THAN ASK TO FORUM FOR DO FAST BEFORE OPTING PENSION,IF NOT THAN FORUM BE YOU FOOL.

JOR SE BOLO ....LEADERS..CH..R HAI.

MADAPPA said...

SUKUMARJI,

THERE IS NO NECESSITY OF FILING ANY WRIT IN URGENCY. LET BANKMEN AVAIL THE PENSION BENEFIT FIRST. WRIT CAN BE FILED AT ANY POINT OF TIME BEFORE LAPSE OF THREE YEARS FROM THE DATE OF DEDUCTION OF ARREARS TOWARDS PENSION FUND.

JUST WAIT AND SEE THE FUN OF IBA AND UNIONS. THEY WILL HAVE TO SUFFER HUMILIATING DEFEAT IN COURT OF LAW JOINTLY. SINCE THE CONSPIRACY IS HATCHED BOTH OF THEM TOGATHER, BOTH OF THEM HAVE TO FACE THE CONSEQUENCES.

MANY STARTLING DISCLOSURES ARE BEING LEAKED OUT OF CUPBOARD REGARDING PENSION ACCOUNING MANIPULATION, WITHOUT ACTUALLY CONTRIBUTING THEIR SHARE OF SHORTFALL BY INDIVIDUAL BANKS FROM TIME TO TIME AND UNIONS MINGLING WITH THE IBA TO DUPE THE POOR EMPLOYEES BY FORCING THEM TO CONTRIBUTE TOWARDS THE PENSION FUND.

dejectedbankemployees said...
This comment has been removed by the author.
Skumar said...
This comment has been removed by the author.
Skumar said...

MADAPPA SIR,

GOD DO AND WHAT YOU HAVE TOLD IN YOUR COMMENT WILL BECOME TRUE IN SHORT TIME. THANKS.

MADAPPA said...

TREACHUROUS ACT OF TOP LEADER!

A WRIT PETITION IS SLAPPED ON THE FACE OF IOB IN MADRAS HIGH COURT FOR COLLUDING WITH A TOP UNION LEADER IN IOB FOR HELPING HIM AND HIS HENCHMEN FOR SECRETLY SWITCHING OVER TO PENSION OPTION.

MEMBERS MAY GO THROUGH THE LINK BELOW FORDETAILS.
http://allbankingsolutions.com/Backdoor%20entry%20of%20union%20leaders.htm

raamraam said...

Dear Sri MADAPPAJI,
YOUR MAIL OF DATE[07.36AM]
Referring to the above I SHALL BE MUCH THANKFUL&GRATEFUL TO YOU IF YOU PL COME OUT IN DETAIL WITH
FULL PARTICULARS ABOUT THE CASE FILED IN MADRAS HIGH COURT REGARDING BACK DOOR ENTRY[OF COURSE IT IS ILLEGAL]FROM PF CHANNEL TO PENSION WITH THE CONNIVANCE OF THE CUNNING &DIRTY MANAGEMENT ON 50/50 SHARING FORMULA
WITH REGARDS
RAAM RAAM

Sanjay Bhatt said...

Jay Vijayji,

Here some so called blind believer and follower of Union and Leaders activated for criticizing peoples like you Who told TRUE and EYE OPENER.

Don't stop yourselves, Keep it up.

Who are criticizing you are so called self believed clever persons.

You continue to wake up bankers your way.

I am Thanking you.

So called self clever persons put here non understandable figures and trying to convince other to that leaders are not wrong and trying to hide truth.

ACTUALLY SIGNING OF 9th BPS AND 2nd PENSION OPTION WITH 2.8 SALARY BY UNIONS IS INSULT OF ALL MEMBERS.

MADAPPA said...

BACKDOOR ENTRY OF SOME LEADERS TO PENSION OPTION IN IOB - IS IT TRUE?

BY

Muruga Raj 06muruga06@gmail.com



It is everybody’s knowledge that a retrograde settlement on pension for bank employees except SBI as second retiral benefit in lieu of Bank’s share of contributory provident fund was made in 1993. At the time of the same becoming “Pension Regulations” in 1995 in all banks except SBI, a clause for forfeiture of past service for participation in a strike was included in the pension regulations surreptitiously by Bank managements at the behest of the Govt. of India which was resisted by all unions in the banking industry and the clause was ultimately removed in the year 2000. But those who had not opted for pension because of the above position were not given the option after the removal of the clause as a natural corollary.



It is pertinent to point out here that Mr. L. Balasubramanian of Indian Overseas Bank who happened to be the president of NCBE at that time when all bankmen were engaged in sustained struggle for removal of the draconian clause for forfeiture of past service for participation in a strike had surreptitiously got himself and his close men included in the pension scheme in 1998-1999 in Indian Overseas Bank betraying all the Bank employees and in particular employees of Indian Overseas Bank and the members of All India Overseas Bank Employees’ union for which he was the president at that time.



This treacherous act of Mr. L. Balasubramanian in spite of being the president of All Indian Overseas Bank Employees’ Union and the President of NCBE at that time has caused an indelible blot in the trade union history. It is highly unjustifiable to have such a person as even a member of any trade union leave alone having him as president of a union and president of NCBE. Under the above mentioned position it is continuous treachery on the part of Mr. L. Balasubramanian and his aides in Indian Overseas Bank, the so called leaders claiming themselves to be in the forefront of struggle for getting one more option for PF optees in Banks to come under the pension scheme and their most willingly being a party to the IX bi-partite settlement in which all those PF optees coming under the pension scheme have been totally deprived of any wage revision arrears as a result of the draconian clause in the settlement of their having been made to surrender 2.8 times of their revised pay as of November 2007. It is thus very clear that it is once again a treacherous act on the part of Mr. L. Balasubramanian and his aides in Indian Overseas bank on bank employees in general and employees of India Overseas Bank in particular and especially members of all India Overseas Bank Employees’ Union.



CONTINUED.......

MADAPPA said...

CONTINUED.....

TREACHUROUS ACT OF A GREAT LEADER!

It is nothing but height of arrogance on the part of these evil forces inimical to the interest of Bank employees in General and of IOB employees in particular, particularly members of All India Overseas Bank Employees’ union to demand levy from the members of All India Overseas Bank Employee’s Union after having been a party to such a retrograde settlement smacking of continued treachery on the part of the so called Mr. L. Balasubramanian and his so called office bearers.



In this back ground it is clinching to mention here that a writ petition bearing W.P. No.8917 of 2010 has been filed in the High Court of Madras by Mr. S. Mohan, a versatile and honest leader in IOB for direction by the Hon’ble High Court to IOB for equal treatment in respect of pension option as has been done in the case of the so called leader Mr. L. Balasubramanian and his men in 1998-1999 conferring the benefits accruing thereon to them for him also. It is slated for hearing during June, 2010 by the Hon’ble High Court. Hence members of All India Overseas Bank Employee’s Union should rise as one rejecting the demand for levy by the betrayers of their interest in respect of pension / wage pension – They should not stop there – they should show the door for these treacherous betrayers and thus save the union, its funds and its members from the clutches of these evil forces acting continuously inimical to the interests of the Union, its funds and its members.
=============================================
COURTESY ALLBANKING SOLUTIONS.COM

dejectedbankemployees said...

AIBOC's " 2ND OPTION ON PENSION – BARE TRUTH".Who did the foul play?AIBOC is also pinpointing one of the main union as BEFI earlier said.So picture is more clear now , who is the black sheep. Read here http://www.mediafire.com/download.php?dgwnjzjtg2t

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