LIC PENSIONERS CHRONICLE

The Record Note signed after discussions between the IBA and the Bank employees’ Associations on 25/5/2015 is nothing but an agreement between two parties one of which is a collective group of Bank employees who have a conflict of interest in the subject matter discussed viz DR neutralisation in Pension and Pension upgradation at least till the dates of the retirement of their members. No  representative body of existing Bank pensioners are signatories to this Note when the decisions recorded adversely affect them. The Record Note has conspicuously been agreed to behind the back of the real stakeholders. Cannot such a bipartite settlement be deemed illegal?

The Record Note is just like a trial and conviction of an innocent  person by a court  without the affected person  committing any offence and without hearing  him (  and not even ex parte after summoning him)!

Greetings.

C H Mahadevan