I do not think any wrong in this. However please any body clarify me.
You are well aware that Wage revision and superannuation benefits in Banking Industry are being negotiated by UFBU and IBA. DFS may have given general guidelines. There is a Joint Note dated 02.05.2005 where in 100% DA benefit has been extended to post 2002 retirees. Both IBA and UFBU are signatories to it. DFS function is to approve.
Can DFS take unilateral decision to quash or delete such joint notes signed by IBA and UFBU ?
As long as there is no strong demand from UFBU to modify joint note IBA/Banks will not take any action. UFBU maintains that agreements signed by it are sacrosanct and no body should question it.
In my opinion DFS will not enter in to picture unless
1. Both IBA and UFBU modify joint note extending benefit to pre-2002 retirees and sent the same for approval of DFS.
2. If IBA does not agree to modify Joint note, UFBU must take up the issue with DFS by submitting representation to DFS exclusively on this issue. Then DFS may have to take a decsion on issue since demand has come from recognized Unions.
But UFBU simply dragging issue simply blaming IBA. Govt without taking issue strongly with either IBA or govt.
3. Since both IBA and UFBU have kept retiree organizations at arms distance they have no other option but to approach courts and they have done the same. If now SC pass final verdict in our favor there ends the matter and all three parties IBA/UFBU/Govt must honour court verdict.
So fault lies with IBA and UFBU not taking any option available to resolve 100% DA issue and simply dragging issue to next BPS and then Next BPS and next.