The agreement on wages in Banking Sector remains to be
signed. The details are circulated and by now known to all.
Experts will analyse how the outlay allowed was utilised...
how much on scales, how much on allowances etc. etc.
The quantity of flour available decided the shape of roti.
Pension issue is left to future. (Not in this deal.)
- The comments on the deal also are not totally unexpected. Pensioners' organisation in Banks submitted memorandumsto (not only) Ministers but also to UFBU leaders. The reactions also are not unexpected.
Now the Insurance Train which is at outer signal can proceed
to the platform once the signal goes green.
LIC has to honour the Supreme Court Order of 7th May 2015. The events unfolding so far suggest that atleast 2 organisations will be content if a solution to pre 8/97 retirees is forthcoming. It remains to be seen whether LIC would insist a small percentage of outlay for Charter to be set aside for settling pre 8/97 problem. LIC would thus appear to be honouring court verdict while the cost would be on wage deal. This is what I surmise. Our top managers are afterall very good business people also. 2 birds at one shot.
The larger issue of updation of pension is really the crux of the matter. After observing the scene in Banking Sector, it is clear as day light that the Unions are not ready for any revolutionary activity on this issue, in the given situation of politics,and economics.
If the in-service unions championed this cause where was the need to approach courts of law? Retirees and their organisations in Banks are following the developments in our Court Case with bated breath.
The temperature outside is 42.5 degrees Celsius ( at Hyderabad.) In this scorching heat the analysis of Mr. M. Srinivasa Murthy " views on Supreme Court Order dated 7.5.2015" brings some comfort to the mind and body. Our country is monsoon dependant and still we have to wait for 5 weeks more to see how LIC proposes to honour the directive of the court.
Shri P. Ramanathan has expertly analysed the various opinions
on Supreme Court Order. I must appreciate him for compelling me
to refer to the dictionary for the 24 synonyms and epithets he used
to describe the Court Order. ERUDITE certainly he is and we will
be benefitted by the knowledge of scholars like him.
My kudos to him.
I am tempted to repeat the suggestion I made once. Will it not be
better if a common platform of Bank retirees and Insurance Retirees forged which will be of use in future struggles? Will AIRIEF which is fiercely independent take a lead in this matter?
B. Ganga Raju Hyderabad