Benefits of retirees are decided through Bilateral negotiations between IBA/Banks and UFBU.
Will UFBU agree if FM passes direct orders ?
IBA and UFBU signed minutes on 08.03.2024 agreeing to consider 1. Amendment to pension regulations to make way for periodical updation of pension in every settlement. 2. Merger of DA 3. Shifting of base year for DA calculation. Now 18 months have passed and UFBU has not followed up the issue with IBA and not a single reminder to IBA.
Though there is no stay by any court iBA claims Sub Judice and no discussion on Updation and UFBU did not protest. But how come both IBA and UFBU submitted before CLC that discussions are held and continuing? IBA twice suggested UFBU to submit a proposal for merger of DA? How come UFBU is silent on the issue?
AIBOA is part of UFBU and very well aware that Updation discussions are stalled because of iBA claim of subjudice. So why AIBOA instead of convincing IBA to start discussions subject to court verdict. filed one more case in Bombay High Court?
IBA in its reply to CLC stated that Ex gratia review was held during 2024 and 2025 to the mutual satisfaction of Unions and Banks. Did UFBU agree that there will be no ex gratia improvement?
Supply depends on demand. And absolutely there is no demand from UFBU for updation, Merger of DA etc.
So there is no logic in blaming FM.