UFBU convenor in his speech a month back after last BPS meeting said that
'IBA more or less convinced that the Updation issue is to be settled for 5-7 BPS retirees first and a road map for updation of post 2002 retirees. IBA is calculating cost and they are also approaching actuaries in this regard..He also said that IBA has to make an agreement including both updation for pre 2002 retirees and post 2002 retirees and they are working on the same.
As regards 5 day Banking IBA has agreed for the same with the condition of increase in working hours and we have to tell whether such increase of working hours is from morning or in the evening, After that they will seek DFS approval and this is settled issue.
But he has not specified any details on the issue of updation to pre 2002 retirees first.
So why agitation now when IBA has agreed for both the demands?
A link to video clip of his speech attached