Prices cannot be controlled by politicians like Pranab Mukherjee or Manmohan Singh or UPA as a whole because their survival depends on donation received from traders and industrialists. They cannot put restriction on traders, industrialists and exporters and hence they have given them full freedom to earn more and more profit. Farmers cannot remain behind in this mad race for profit and that for making money in the shortest time and this is why even prices of vegetables are rising and touching sky. All essential goods are more or less beyond the reach of common men.
Even Public Sector undertakings and public sector banks (PSUs and PSBs) are in mad race for showing higher profits. CEOs of PSUs are busy in registering their name in the list of yes-man of ministers so that they may get cream posting and quickest promotions. We are living in an era of flattery where quality of flattery is more significant than service to common men or that of human resources or the real service to the mankind in general. Politicians are made for traders and industrialists and vice versa. Common men are providing shoulders to these politicians and traders for firing in air apparently at each other. Real jerk of these useless firing is borne by none other than common men. In fact both traders and politicians are playing drama and befooling common men for their vested interest.
Every time finance minister assures to take steps to control price rise, market exhibits more and more rise in prices. On the eve of last Parliamentary election they took some harsh steps against traders, hoarders, profit escalators, black marketers and the resultant effect was positive. Prices did come down to some extent. Voters thought that after the grand victory in election Congress led UPA government will do better but their all hopes shattered. I am however fully confident that UPA government will become active once again only when they reach closer to next election. They will start again talking of common men again without any sense or realization of shame. In mad race of reformation and liberalization or in an effort o keep allies happy UPA government at centre is inviting another violent revolution and strengthening the hands of communists, socialist and naxalists and terrorists indirectly.
It is worthwhile to express here that the same government and the ruling party spend crores of rupees in welcoming some or the minister or some VIP every day in some town or the other. Party and the government spends hundred of crores of rupees in conducting parliamentary election or assembly election, crores of rupees are rupees are spent on inaugural functions, in making preparation for commonwealth games, IPLs and so many other avoidable ventures to teach a lesson to opposition parties, or to tease opposition parties or for their own vested interest. But unfortunately they do no have sufficient fund to build adequate godowns and warehouses to store lifesaving food grains produced by poor farmers. It is therefore not painful for them that food grains worth hundred of crores rupees are wasted and damaged every year. Yes it is also true that Mr. Sharad Pawar Agriculture Minister knows this bitter truth of food grain worth hundred of crores of rupees getting damaged every year , But he is helpless. He does not get time to think over methods, means and ways to stop loss of food grain.
Government proudly talks of GDP growth but ignore the bitter truth that production of food grain is not growing in unison with growing need. They talk of corporate finance and least bothered of reduction in farm lending through PSU banks. As such neither production is increasing , nor produced food grains are properly and safely stored and neither public distribution system is made leak proof nor prices are regulated to make the same affordable for common men.
I simply know a proverb “If there is a will there is a way”
Flatterers however always say “all is well sir”
Finance Minister, Prime Minister, RBI Governor advises common men to wait till government stabilizes, till recovery from global recession ,till monsoon comes, till Kharif crop yield comes in the market, till the year end and finally till next general election approaches near. Congress Party spokesman Mr. Manish Tiwari told yesterday on TV while participating in a debate on Times Now that NDA government in 2002 dismantled administered price system or changed this law or other. I am unable to understand why UPA government did not alter the law, amend the law when they found a hurdle in the law passed by BJP led NDA government. Common man are dieing of hunger, but the government is engaged in blame game.
God know whether anything is in control of the government or everything including Common Men are willfully, diplomatically and strategically fully left Bhawan Bharose till next election.
Danendra Jain
28.07.2010
Tuesday, July 27, 2010
Sunday, July 25, 2010
All is well sir
Prices cannot be controlled by politicians like Pranab Mukherjee or Manmohan Singh or UPA as a whole because their survival depends on donation received from traders and industrialists. They cannot put restriction on traders, industrialists and exporters and hence they have given them full freedom to earn more and more profit. Farmers cannot remain behind in this mad race for profit and that for making money in the shortest time and this is why even prices of vegetables are rising and touching sky. All essential goods are more or less beyond the reach of common men.
Even Public Sector undertakings and public sector banks (PSUs and PSBs) are in mad race for showing higher profits. CEOs of PSUs are busy in registering their name in the list of yes-man of ministers so that they may get cream posting and quickest promotions. We are living in an era of flattery where quality of flattery is more significant than service to common men or that of human resources or the real service to the mankind in general. Politicians are made for traders and industrialists and vice versa. Common men are providing shoulders to these politicians and traders for firing in air apparently at each other. Real jerk of these useless firing is borne by none other than common men. In fact both traders and politicians are playing drama and befooling common men for their vested interest.
Every time finance minister assures to take steps to control price rise, market exhibits more and more rise in prices. On the eve of last Parliamentary election they took some harsh steps against traders, hoarders, profit escalators, black marketers and the resultant effect was positive. Prices did come down to some extent. Voters thought that after the grand victory in election Congress led UPA government will do better but their all hopes shattered. I am however fully confident that UPA government will become active once again only when they reach closer to next election. They will start again talking of common men again without any sense or realization of shame. In mad race of reformation and liberalization our government is inviting another violent revolution and strengthening the hands of communists, socialist and naxalists and terrorists indirectly.
It is worthwhile to express here that the same government and the ruling party spend crores of rupees in welcoming some or the minister or some VIP every day in some town or the other. Party and the government spends hundred of crores of rupees in conducting parliamentary election or assembly election, crores of rupees are rupees are spent on inaugural functions, in making preparation for commonwealth games, IPLs and so many other avoidable ventures to teach a lesson to opposition parties, or to tease opposition parties but unfortunately they do no have sufficient fund to build godowns and warehouses to store lifesaving food grains produced by poor farmers. It is therefore not painful for them that food grains worth hundred of crores rupees are wasted and damaged every year.
Government proudly talks of GDP growth but ignore the bitter truth that production of food grain is not growing in unison with growing need. They talk of corporate finance and least bothered of reduction in farm lending through PSU banks. As such neither production is increasing , nor produced food grains are properly and safely stored and neither public distribution system is made leak proof nor prices are regulated to make the same affordable for common men.
God know whether anything is in control of the government or everything including Common Men are willfully, diplomatically and strategically fully left Bhawan Bharose till next election.
I simply know a proverb “If there is a will there is a way”
Flatterers however always say “all is well sir”
Danendra Jain
25.07.2010
Even Public Sector undertakings and public sector banks (PSUs and PSBs) are in mad race for showing higher profits. CEOs of PSUs are busy in registering their name in the list of yes-man of ministers so that they may get cream posting and quickest promotions. We are living in an era of flattery where quality of flattery is more significant than service to common men or that of human resources or the real service to the mankind in general. Politicians are made for traders and industrialists and vice versa. Common men are providing shoulders to these politicians and traders for firing in air apparently at each other. Real jerk of these useless firing is borne by none other than common men. In fact both traders and politicians are playing drama and befooling common men for their vested interest.
Every time finance minister assures to take steps to control price rise, market exhibits more and more rise in prices. On the eve of last Parliamentary election they took some harsh steps against traders, hoarders, profit escalators, black marketers and the resultant effect was positive. Prices did come down to some extent. Voters thought that after the grand victory in election Congress led UPA government will do better but their all hopes shattered. I am however fully confident that UPA government will become active once again only when they reach closer to next election. They will start again talking of common men again without any sense or realization of shame. In mad race of reformation and liberalization our government is inviting another violent revolution and strengthening the hands of communists, socialist and naxalists and terrorists indirectly.
It is worthwhile to express here that the same government and the ruling party spend crores of rupees in welcoming some or the minister or some VIP every day in some town or the other. Party and the government spends hundred of crores of rupees in conducting parliamentary election or assembly election, crores of rupees are rupees are spent on inaugural functions, in making preparation for commonwealth games, IPLs and so many other avoidable ventures to teach a lesson to opposition parties, or to tease opposition parties but unfortunately they do no have sufficient fund to build godowns and warehouses to store lifesaving food grains produced by poor farmers. It is therefore not painful for them that food grains worth hundred of crores rupees are wasted and damaged every year.
Government proudly talks of GDP growth but ignore the bitter truth that production of food grain is not growing in unison with growing need. They talk of corporate finance and least bothered of reduction in farm lending through PSU banks. As such neither production is increasing , nor produced food grains are properly and safely stored and neither public distribution system is made leak proof nor prices are regulated to make the same affordable for common men.
God know whether anything is in control of the government or everything including Common Men are willfully, diplomatically and strategically fully left Bhawan Bharose till next election.
I simply know a proverb “If there is a will there is a way”
Flatterers however always say “all is well sir”
Danendra Jain
25.07.2010
Saturday, July 17, 2010
Bank Officers
http://danendrajain.ibibo.com/Blogs/archive/183759/2010/07/18/376107~Talk-of-social-security-is-a-cruel-joke
Division created by 9th bipartite settlement among bank employees are mostly due to paucity of proper knowledge. Pension optees or PF optees should understand it well that payment of pension is not a third terminal benefit as prevalent in RBI or SBI or other Public Sector Undertaking. Every bank or every public organization or private sector entity which is under obligation to deduct Provident Fund from the salary of their employee is also obliged to contribute equal amount from their expenditure or revenue account. This is called Bank’s contribution to PF in banking industry. Bank is making pension payment out of this fund and not from their pocket or their expenditure account.
I do not agree if banks say that there was actual need of sharing the burden during 7th or 8th or 9th Bipartite Settlement. Since union leaders did not make proper calculation and analysis of the facts about the use of funds, they might have agreed to share the burden of pension out of proposed hike in salary during 7th, 8th or 9th Bipartite Settlement. Even if it is assumed that there was shortage of fund or even if banks apprehended that crisis of fund will emerge in future in making payment of pension, it is legal obligation of employer to arrange sufficient fund from their resources, from their expenditure account. Central government provide enough amount in Budget for payment of pension to employees and there was never any hue and cry for the same.Banks were nationalized to serve the society , to fulfill the social obligation ant not to merely earn profit in thousands of crores of rupees every year by exploitation of staff, by curtaining manpower, by stopping increment of employees or by imposing hidden charges on customers or by stopping social welfare lending and indulging in bulk financing to corporate sector.
It is known to all that as soon as one employee opts for pension, Bank’s entire contribution made in PF account during entire tenure of one’s service is taken away by bank. Not only this bank is obliged to contribute towards pension fund every month on behalf of every pension optees the amount equal to what an employee contribute towards his PF account. .This accumulated fund from any mathematical angle will be more than enough to make payment of pension to all retirees as per prevalent rate of pension provided banks are honest enough to deposit their equal share regularly for all employees and use the accumulated fund for gain in profitable investment ventures and not loss the money by investing in share market or by keeping the fund idle. It is bitter truth that from any angle of consideration other than social security pension option for an employee was never and never an economically profitable venture and this is why there used to be prolonged debate on this issue in nineties and there was vertical split among employees on this issue. Employees had to resort to strike many times to protest imposition of pension and stopping of bank’s contribution towards PF fund as also return of accumulated PF to bank.
Unfortunately Government of India adopted the policy of reformation, liberalization and globalization in the year 1991 and the basic purpose of nationalization of banks changed. Banks became a commercial entity and the element of profit became more important than that of social security. Banks started lending to rich person at low rate of interest and became hesitant to lend poor people even at their PLR or BPLR. They started reducing interest rates on deposits and hence PF optees started feeling or apprehending the pain when they retired. Not only this ,there are crores of senior citizens in our country who are sufferer of this policy of liberalization and due to low interest rate regime because their livelihood were dependent on interest income during their old age.
Banks are no more inclined to lend to needy poor people but concentrating entire energy on corporate sector and bulk financing. Banks are no more interested to create employment opportunities. This is why actual number of employees during last twenty years has not gone up inspite of hundred times growth in business and equal growth in branch expansion and addition of non banking services in banks .Exploitation of labour has become a common feature in banking industry as it was prevalent before nationalization of banks. This is why United Forum of Bank Unions treats the 9th Bipartite Settlement as historic that they have won the second offer of pension from bank which has discarded its entire social obligation and adopted policy of looting the money as other private entrepreneurs are doing. It does not astonish to me that prices of all commodities are rising every day and government is finding it difficult to control it. The one and only one reason behind it is that they have given unlimited freedom to private sector and do not want to regulate price, profit makers, hoarders, and adulterators and even erring banks. Regulators of banks are least bothered of bank employees or social security, they also now a days fix profit target and attach much importance on profit and on Return on Assets. Government of India or for that matter, Finance Minister or RBI are least bothered of Quality of assets in banks or health of bank or health of bank employees. Administrators need flattery and gift in return of what they offer to banks and bank officials (including CEOs). We are living in Gift Raj.
Banks are undoubtedly gainer only when all are pension optees.After completing 60 years of age in banks and after facing so much work load, so much stress and so much pains caused by corrupt system and corrupt team of officers, one officer will be hardly fit to survive for even five years after retirement. Bitter truth is that death before retirement is increasing year after year. Officers are finding it difficult to keep body fit even after 40 years of age. Officers in general at the age of 40 and above wait for VRS to get rid of tension they face in bank’s job. Even newly recruited employees in banks leave the job in a year of two and go for other job. There is love and dignity left in bank’s job as it earned during seventies and eighties. Union leaders are not that much devoted and not ready to sacrifice any thing for the sake of employees as they used to be before reformation era. Now leaders are always talking of LEVY or threatening members of expulsion from Association or Union if they do not pay levy out of arrear. God knows how union leaders will consume hundreds of crores of rupees collected through this LEVY in addition to normal union fees
Time has changed completely. This is why learned advocate Sri Pradeep Yadav of Supreme Court has suggested employees to accept the agreement in present form and be ready for accepting pension and sacrificing what banks are bent upon making recovery from their arrears in lieu of offer of pension to PF optees. There is none to support the cause of PF optees or pension optees in real sense, not even union leaders, not to speak of government of India who won the public vote by making promise of social security.
Only recourse to frustrated section of employees is court of law. Unfortunately this judicial course is also so prolonged, cumbersome and costly that one dies before getting justice, not to imagine of justice during service period. Union Fund is therefore growing, pension fund is growing, tax collection is increasing year after but the capacity of bank employees to buy goods is deceasing day by day, year after year.Union is becoming more and more powerful, management is gaining power but the position of employees of bank is becoming pitiable year after after.
There is a proverb in Hindi “ Sanp (snake) ke muhan (mouth) me chhuchunder, na ugalte banta hai aur na nigalte banta hai.”
Division created by 9th bipartite settlement among bank employees are mostly due to paucity of proper knowledge. Pension optees or PF optees should understand it well that payment of pension is not a third terminal benefit as prevalent in RBI or SBI or other Public Sector Undertaking. Every bank or every public organization or private sector entity which is under obligation to deduct Provident Fund from the salary of their employee is also obliged to contribute equal amount from their expenditure or revenue account. This is called Bank’s contribution to PF in banking industry. Bank is making pension payment out of this fund and not from their pocket or their expenditure account.
I do not agree if banks say that there was actual need of sharing the burden during 7th or 8th or 9th Bipartite Settlement. Since union leaders did not make proper calculation and analysis of the facts about the use of funds, they might have agreed to share the burden of pension out of proposed hike in salary during 7th, 8th or 9th Bipartite Settlement. Even if it is assumed that there was shortage of fund or even if banks apprehended that crisis of fund will emerge in future in making payment of pension, it is legal obligation of employer to arrange sufficient fund from their resources, from their expenditure account. Central government provide enough amount in Budget for payment of pension to employees and there was never any hue and cry for the same.Banks were nationalized to serve the society , to fulfill the social obligation ant not to merely earn profit in thousands of crores of rupees every year by exploitation of staff, by curtaining manpower, by stopping increment of employees or by imposing hidden charges on customers or by stopping social welfare lending and indulging in bulk financing to corporate sector.
It is known to all that as soon as one employee opts for pension, Bank’s entire contribution made in PF account during entire tenure of one’s service is taken away by bank. Not only this bank is obliged to contribute towards pension fund every month on behalf of every pension optees the amount equal to what an employee contribute towards his PF account. .This accumulated fund from any mathematical angle will be more than enough to make payment of pension to all retirees as per prevalent rate of pension provided banks are honest enough to deposit their equal share regularly for all employees and use the accumulated fund for gain in profitable investment ventures and not loss the money by investing in share market or by keeping the fund idle. It is bitter truth that from any angle of consideration other than social security pension option for an employee was never and never an economically profitable venture and this is why there used to be prolonged debate on this issue in nineties and there was vertical split among employees on this issue. Employees had to resort to strike many times to protest imposition of pension and stopping of bank’s contribution towards PF fund as also return of accumulated PF to bank.
Unfortunately Government of India adopted the policy of reformation, liberalization and globalization in the year 1991 and the basic purpose of nationalization of banks changed. Banks became a commercial entity and the element of profit became more important than that of social security. Banks started lending to rich person at low rate of interest and became hesitant to lend poor people even at their PLR or BPLR. They started reducing interest rates on deposits and hence PF optees started feeling or apprehending the pain when they retired. Not only this ,there are crores of senior citizens in our country who are sufferer of this policy of liberalization and due to low interest rate regime because their livelihood were dependent on interest income during their old age.
Banks are no more inclined to lend to needy poor people but concentrating entire energy on corporate sector and bulk financing. Banks are no more interested to create employment opportunities. This is why actual number of employees during last twenty years has not gone up inspite of hundred times growth in business and equal growth in branch expansion and addition of non banking services in banks .Exploitation of labour has become a common feature in banking industry as it was prevalent before nationalization of banks. This is why United Forum of Bank Unions treats the 9th Bipartite Settlement as historic that they have won the second offer of pension from bank which has discarded its entire social obligation and adopted policy of looting the money as other private entrepreneurs are doing. It does not astonish to me that prices of all commodities are rising every day and government is finding it difficult to control it. The one and only one reason behind it is that they have given unlimited freedom to private sector and do not want to regulate price, profit makers, hoarders, and adulterators and even erring banks. Regulators of banks are least bothered of bank employees or social security, they also now a days fix profit target and attach much importance on profit and on Return on Assets. Government of India or for that matter, Finance Minister or RBI are least bothered of Quality of assets in banks or health of bank or health of bank employees. Administrators need flattery and gift in return of what they offer to banks and bank officials (including CEOs). We are living in Gift Raj.
Banks are undoubtedly gainer only when all are pension optees.After completing 60 years of age in banks and after facing so much work load, so much stress and so much pains caused by corrupt system and corrupt team of officers, one officer will be hardly fit to survive for even five years after retirement. Bitter truth is that death before retirement is increasing year after year. Officers are finding it difficult to keep body fit even after 40 years of age. Officers in general at the age of 40 and above wait for VRS to get rid of tension they face in bank’s job. Even newly recruited employees in banks leave the job in a year of two and go for other job. There is love and dignity left in bank’s job as it earned during seventies and eighties. Union leaders are not that much devoted and not ready to sacrifice any thing for the sake of employees as they used to be before reformation era. Now leaders are always talking of LEVY or threatening members of expulsion from Association or Union if they do not pay levy out of arrear. God knows how union leaders will consume hundreds of crores of rupees collected through this LEVY in addition to normal union fees
Time has changed completely. This is why learned advocate Sri Pradeep Yadav of Supreme Court has suggested employees to accept the agreement in present form and be ready for accepting pension and sacrificing what banks are bent upon making recovery from their arrears in lieu of offer of pension to PF optees. There is none to support the cause of PF optees or pension optees in real sense, not even union leaders, not to speak of government of India who won the public vote by making promise of social security.
Only recourse to frustrated section of employees is court of law. Unfortunately this judicial course is also so prolonged, cumbersome and costly that one dies before getting justice, not to imagine of justice during service period. Union Fund is therefore growing, pension fund is growing, tax collection is increasing year after but the capacity of bank employees to buy goods is deceasing day by day, year after year.Union is becoming more and more powerful, management is gaining power but the position of employees of bank is becoming pitiable year after after.
There is a proverb in Hindi “ Sanp (snake) ke muhan (mouth) me chhuchunder, na ugalte banta hai aur na nigalte banta hai.”
Monday, July 12, 2010
Bhartiya Janta Party
Some political parties are busy in ridiculing foreign origin of Sonia, some are asking why Mamta is not attending meeting called by UPA, Some questions the loyalty of Sharad Pawar to Sonia Gandhi or UPA, some raises eye brows why Afzal Guru is not hanged and so on.... Afzal guru may be treated as Jamai by UPA. But before throwing stone on other’s glass house one should remember that BJP’s minister took one such hard core terrorist on plane to Kandhar.There may be good reason behind such act. People of India are least concerned whether Afzal Guru is hanged or not. People are worried of relentless rise in prices of essential commodities. People are worried of rampant corruption in all offices and delay in all works. People are worried due to delayed justice delivered by Indian courts. People are irritated on inhumane treatment of police department with innocent citizens and friendly treatment with evil doers and criminals.
Common man is least bothered of issues raised by opposition parties until such issues concerns their survival, their Rozi , Roti and Makan. . They need cheap potato, onion, vegetables, wheat, rice, pulses etc. There is a proverb “Dal roti khayenge Prabhu ke gun gayenge” .
Common men need regular water and electricity. They need medical care, education, and transport at reasonable rate. They need punctuality and cleanliness on road, buses, offices railways and other public places.
Common men do not understand GDP growth loudly claimed by Manmohan Ji and Pranab da; they do not under stand IPL games or share market upheavals.
I want BJP to identify and assess the pain of common men and ask at least CMs of BJP to address these issues on priority and instruct and advice leaders, members and speakers of Bhartiya Janta Party to stop commenting only on the black spots on the dress of UPA government.
People like positive attitude and dislike people who do nothing but criticize others only, People are pleased to see the performance of government run by Narendra Modi , Raman and Mr.Nitish Kumar. BJP should focus on the achievements made by successful ministers of the party and desist from insignificant issues pertaining to UPA and its members.
Common man is least bothered of issues raised by opposition parties until such issues concerns their survival, their Rozi , Roti and Makan. . They need cheap potato, onion, vegetables, wheat, rice, pulses etc. There is a proverb “Dal roti khayenge Prabhu ke gun gayenge” .
Common men need regular water and electricity. They need medical care, education, and transport at reasonable rate. They need punctuality and cleanliness on road, buses, offices railways and other public places.
Common men do not understand GDP growth loudly claimed by Manmohan Ji and Pranab da; they do not under stand IPL games or share market upheavals.
I want BJP to identify and assess the pain of common men and ask at least CMs of BJP to address these issues on priority and instruct and advice leaders, members and speakers of Bhartiya Janta Party to stop commenting only on the black spots on the dress of UPA government.
People like positive attitude and dislike people who do nothing but criticize others only, People are pleased to see the performance of government run by Narendra Modi , Raman and Mr.Nitish Kumar. BJP should focus on the achievements made by successful ministers of the party and desist from insignificant issues pertaining to UPA and its members.
Saturday, July 3, 2010
union bank of india
"Asli Chehra" - TRUE FACE OF BANK UNIONS
Immediately after the settlement, most of the unions patted their back for the so called "historic settlement". Slowly as they started facing volley of questions from the members, they came out with various theories to justify their action, which included the so called legal opinion and IBA's stiff attitude which forced them to agree to recovery from only PF optees to the tune of 2.8 times of the November 2007 pay. An impression was being created by them as if they were not in favour the same till 26th April, 2010, but somehow they were cornered so much that they had to agree to the terms set by IBA. If that would have been the case, then they would not now oppose the petition pending in Madras High Court. That shows the double standards.
But soon the bankers will be able to see the "Asli Chehra" (i.e. True Face) of these union leaders. These union leaders will now not be able to beat around the bush and befool the members by shedding crocodile tears. They have to take a stand in the Madras High Court, as to whether they are in favour of payment by all employees / officers @ 1.6 times or they favour 2.8 times only from PF optees. Some of these unions have already been exposed. Let us see what does the market reports say as at the end of June, 2010.
It is reported that during the course of hearing of the case at Madras High Court, while opposing the interim stay granted by Madras High Court, advocates of IBA, and AIBEA and NCBE, requested for vacation of the stay. AIBEA and NCBE were represented by one of the top most firm namely M/s Aiyar & Dolia and wanted vacation of the interim stay on recovery of 2.8 times only from PF optees to be vacated. So the stands of these two unions are very clear now. They will be using the members’ funds (including PF optees) for payment to the law firms and fighting case against them. However, the Hon’ble Judge advised them to file their counter affidavits and Ordered continuation of the Stay Order. Next hearing has been fixed for 6th July 2010.
Vide circular No. 98 dated 29th June, 2010. AIBOC has declared "We are in constant touch with the IBA and the Convenor of UFBU, to initiate appropriate steps to vacate the stay, at the earliest, to enable IBA to issue necessary instructions to member Banks on the Pension offer". Thus, AIBOC is also likely to oppose the move and appears to be in favour of payment by only PF optees".
(Remember, the stay is not against the Pension offer or issuing circular by IBA, it is only against immediate recovery of 2.8 times of pay of November, 2007 from PF optees. )
The stand of other unions will also be clear within a week, as court in its orders says ""Notice to respondents returnable by 06.07.2010. There shall be an interim order of stay". (all major unions are respondents in this case). The reports indicate that NOBW may support the petition filed by Canara Bank Workers Unions. Similarly, BEFI may not oppose the petition of Canara Bank Workers union. The protest by INBEF has already been incorporated in the affidavit filed in the Court.
If the above reports are true, then 29th June 2010 would be regarded as a sad day in the history of trade union movement of Banking Industry. Souls of great leaders like Parawana Ji would be feeling really sad and dejected.
Till now they have been propagating that they have been forced by the circumstances and situation to accept contributory pension scheme in banking industry. They are giving so many logics and have been pleading as to why they could not make IBA agree to the Pension Scheme in its original form of 1993. We are unable to find any logical reason from Unions wherein it joined hands with the union of the Management i.e. IBA to defeat the efforts of bank employees.
Duniya ke Mazdooron ek ho - Duniya ke mehanatkashon ek ho ka naara laagene waale aaj majdooron ke khilaf hi Court main jaa pahunche.
TESTING TIME IS NOT FAR WAY NOW. NOW THESE UNION LEADERS WILL NOT BE ABLE TO SAY THAT IBA DID NOT LET THEM SUFFICIENT TIME AND CORNERED THEM SO SUCH THAT THEY SIGNED THE SETTLEMENT ON 27TH APRIL, 2010. THEY HAVE SUFFICIENT TIME OF OVER A WEEK TO DECIDE WHETHER THEY WANT TO PROTECT THE INTERESTS OF PF OPTEES OR WANT TO DO WHAT IBA IS SAYING.
It has also been reported that some Banks have issued strict instructions for payment of arrears to all the employees / officers by 30th June, 2010 or so, after keeping 2.8 times of the pay of November, 2007 in suspense account. This clearly gives an indication that banks are in a hurry to pay arrears so that they can deduct 2.8 times from the arrears of PF optees before orders of Madras High Court are delivered to them through IBA. In court they will take the plea that notice of stay was not received by them and arrears have already been paid. As Canara Bank has also rushed to pay the arrears today after keeping the 2.8 recovery in suspense, Canara Bank Workers Union is likely to give a strong protest letter on 1st July, 2010 at their Head Office. Canara Bank Workers Union has informed that they are proceeding to Bangalore to personally handover the letter along with a copy of the court order and get the acknowledgement.
Now all the bankers have to take a final call as to whether these union leaders are with the workers or are working against them. We know it is a difficult task as they have to eat their own words. They have issued number of circulars justifying as to why and how they were cornered to agree this changed stand on the night of 26th and 27th April, 2010. However, this is the time when they can correct the mistakes as PF optees have shared the burden of pension even in the last two Bipartite settlements (7th and 8th). This information is now shared by almost everybody (which was not known earlier to 99% of the PF optees).
The unions opposing the petition will be spending lacs of rupees in the legal battle. All this money can be saved if they simple say that we do not oppose the petition and are in favour of the same.
LET PF OPTEES DECLARE THAT THEY WILL QUITE THEIR UNION (WHICHEVER IT MAY BE) IF THEIR UNION OPPOSES THE PETITION FILED BY CANARA BANK WORKERS UNION AT MADRAS HIGH COURT. LET COURT DECIDE THE CASE ON MERITS.
(Inputs also by kamlesh.chaturvedi@yahoo.com; canara bank workers unions etc )
UPDATE ON THE ORDERS ISSUED BY VARIOUS HIGH COURTS AGAINST RECOVERY OF 2.8 TIMES OF NOVEMBER 2007 PAY
In order to ventilate the grievances of the employees, Writ Petitions have been filed in various Hon’ble High Courts.
(A)The First Writ Petition was filed before the Hon’ble Andhra High Court bearing number Writ Petition No. 8237 of 2010 where in Hon’ble Court has passed following orders:
“ORDER: Interim order dated 13-04-2010, to continue, subject to final orders to be passed in this WPMP. Any settlement also, shall be subject to final orders in this WPMP.
Post after Summer Vacation, 2010.”
(B) Writ Petition No. (C) No.3729/2010 has been filed before Hon’ble Delhi High Court, where Hon’ble Court has passed following Orders on 28.05.2010:
“Issue notice to the respondents to show cause as to why rule nisi
be not issued, returnable on 30.07.2010. Necessary steps be taken within seven
days.”
(C) Subsequently, Division Bench of Hon’ble Allahabad High Court while disposing Special Appeal No. 947 of 2010 passed following orders Orders:
“Issue notice.
Respondents are allowed three weeks time to file counter
Affidavit.
List thereafter”
(D) And now recently a Writ Petition bearing no. WP 12269/2010 has been filed before Hon’ble High Court of Judicature at Madras, in the matter of Clause No. 32 of the industry level Wage Revision Settlement dated 27.04.2010 and also clause (1) of the Pension Settlement of even date, seeking a direction from the Hon’ble Court to quash the above clauses only in so far as the said clauses require the provident fund optees now in service to contribute 2.8 times of the Nov 2007 revised pay, if they want to opt for the pension scheme.
Hon’ble Justice K Venkataraman, who heard the matter has ordered an interim stay and the next date of hearing, has been fixed on 06 July 2010. A copy of this order is enclosed.
From what is stated here in above, it is evidently clear that Clause 32 of Settlement dated 27.04.2010 and Clause (1) of Pension Settlement dated 27.04.2010 has become subject matter of judicial scrutiny by the Hon’ble Courts and Hon’ble Madras High Court has passed orders to stay the operation of these clauses.
Immediately after the settlement, most of the unions patted their back for the so called "historic settlement". Slowly as they started facing volley of questions from the members, they came out with various theories to justify their action, which included the so called legal opinion and IBA's stiff attitude which forced them to agree to recovery from only PF optees to the tune of 2.8 times of the November 2007 pay. An impression was being created by them as if they were not in favour the same till 26th April, 2010, but somehow they were cornered so much that they had to agree to the terms set by IBA. If that would have been the case, then they would not now oppose the petition pending in Madras High Court. That shows the double standards.
But soon the bankers will be able to see the "Asli Chehra" (i.e. True Face) of these union leaders. These union leaders will now not be able to beat around the bush and befool the members by shedding crocodile tears. They have to take a stand in the Madras High Court, as to whether they are in favour of payment by all employees / officers @ 1.6 times or they favour 2.8 times only from PF optees. Some of these unions have already been exposed. Let us see what does the market reports say as at the end of June, 2010.
It is reported that during the course of hearing of the case at Madras High Court, while opposing the interim stay granted by Madras High Court, advocates of IBA, and AIBEA and NCBE, requested for vacation of the stay. AIBEA and NCBE were represented by one of the top most firm namely M/s Aiyar & Dolia and wanted vacation of the interim stay on recovery of 2.8 times only from PF optees to be vacated. So the stands of these two unions are very clear now. They will be using the members’ funds (including PF optees) for payment to the law firms and fighting case against them. However, the Hon’ble Judge advised them to file their counter affidavits and Ordered continuation of the Stay Order. Next hearing has been fixed for 6th July 2010.
Vide circular No. 98 dated 29th June, 2010. AIBOC has declared "We are in constant touch with the IBA and the Convenor of UFBU, to initiate appropriate steps to vacate the stay, at the earliest, to enable IBA to issue necessary instructions to member Banks on the Pension offer". Thus, AIBOC is also likely to oppose the move and appears to be in favour of payment by only PF optees".
(Remember, the stay is not against the Pension offer or issuing circular by IBA, it is only against immediate recovery of 2.8 times of pay of November, 2007 from PF optees. )
The stand of other unions will also be clear within a week, as court in its orders says ""Notice to respondents returnable by 06.07.2010. There shall be an interim order of stay". (all major unions are respondents in this case). The reports indicate that NOBW may support the petition filed by Canara Bank Workers Unions. Similarly, BEFI may not oppose the petition of Canara Bank Workers union. The protest by INBEF has already been incorporated in the affidavit filed in the Court.
If the above reports are true, then 29th June 2010 would be regarded as a sad day in the history of trade union movement of Banking Industry. Souls of great leaders like Parawana Ji would be feeling really sad and dejected.
Till now they have been propagating that they have been forced by the circumstances and situation to accept contributory pension scheme in banking industry. They are giving so many logics and have been pleading as to why they could not make IBA agree to the Pension Scheme in its original form of 1993. We are unable to find any logical reason from Unions wherein it joined hands with the union of the Management i.e. IBA to defeat the efforts of bank employees.
Duniya ke Mazdooron ek ho - Duniya ke mehanatkashon ek ho ka naara laagene waale aaj majdooron ke khilaf hi Court main jaa pahunche.
TESTING TIME IS NOT FAR WAY NOW. NOW THESE UNION LEADERS WILL NOT BE ABLE TO SAY THAT IBA DID NOT LET THEM SUFFICIENT TIME AND CORNERED THEM SO SUCH THAT THEY SIGNED THE SETTLEMENT ON 27TH APRIL, 2010. THEY HAVE SUFFICIENT TIME OF OVER A WEEK TO DECIDE WHETHER THEY WANT TO PROTECT THE INTERESTS OF PF OPTEES OR WANT TO DO WHAT IBA IS SAYING.
It has also been reported that some Banks have issued strict instructions for payment of arrears to all the employees / officers by 30th June, 2010 or so, after keeping 2.8 times of the pay of November, 2007 in suspense account. This clearly gives an indication that banks are in a hurry to pay arrears so that they can deduct 2.8 times from the arrears of PF optees before orders of Madras High Court are delivered to them through IBA. In court they will take the plea that notice of stay was not received by them and arrears have already been paid. As Canara Bank has also rushed to pay the arrears today after keeping the 2.8 recovery in suspense, Canara Bank Workers Union is likely to give a strong protest letter on 1st July, 2010 at their Head Office. Canara Bank Workers Union has informed that they are proceeding to Bangalore to personally handover the letter along with a copy of the court order and get the acknowledgement.
Now all the bankers have to take a final call as to whether these union leaders are with the workers or are working against them. We know it is a difficult task as they have to eat their own words. They have issued number of circulars justifying as to why and how they were cornered to agree this changed stand on the night of 26th and 27th April, 2010. However, this is the time when they can correct the mistakes as PF optees have shared the burden of pension even in the last two Bipartite settlements (7th and 8th). This information is now shared by almost everybody (which was not known earlier to 99% of the PF optees).
The unions opposing the petition will be spending lacs of rupees in the legal battle. All this money can be saved if they simple say that we do not oppose the petition and are in favour of the same.
LET PF OPTEES DECLARE THAT THEY WILL QUITE THEIR UNION (WHICHEVER IT MAY BE) IF THEIR UNION OPPOSES THE PETITION FILED BY CANARA BANK WORKERS UNION AT MADRAS HIGH COURT. LET COURT DECIDE THE CASE ON MERITS.
(Inputs also by kamlesh.chaturvedi@yahoo.com; canara bank workers unions etc )
UPDATE ON THE ORDERS ISSUED BY VARIOUS HIGH COURTS AGAINST RECOVERY OF 2.8 TIMES OF NOVEMBER 2007 PAY
In order to ventilate the grievances of the employees, Writ Petitions have been filed in various Hon’ble High Courts.
(A)The First Writ Petition was filed before the Hon’ble Andhra High Court bearing number Writ Petition No. 8237 of 2010 where in Hon’ble Court has passed following orders:
“ORDER: Interim order dated 13-04-2010, to continue, subject to final orders to be passed in this WPMP. Any settlement also, shall be subject to final orders in this WPMP.
Post after Summer Vacation, 2010.”
(B) Writ Petition No. (C) No.3729/2010 has been filed before Hon’ble Delhi High Court, where Hon’ble Court has passed following Orders on 28.05.2010:
“Issue notice to the respondents to show cause as to why rule nisi
be not issued, returnable on 30.07.2010. Necessary steps be taken within seven
days.”
(C) Subsequently, Division Bench of Hon’ble Allahabad High Court while disposing Special Appeal No. 947 of 2010 passed following orders Orders:
“Issue notice.
Respondents are allowed three weeks time to file counter
Affidavit.
List thereafter”
(D) And now recently a Writ Petition bearing no. WP 12269/2010 has been filed before Hon’ble High Court of Judicature at Madras, in the matter of Clause No. 32 of the industry level Wage Revision Settlement dated 27.04.2010 and also clause (1) of the Pension Settlement of even date, seeking a direction from the Hon’ble Court to quash the above clauses only in so far as the said clauses require the provident fund optees now in service to contribute 2.8 times of the Nov 2007 revised pay, if they want to opt for the pension scheme.
Hon’ble Justice K Venkataraman, who heard the matter has ordered an interim stay and the next date of hearing, has been fixed on 06 July 2010. A copy of this order is enclosed.
From what is stated here in above, it is evidently clear that Clause 32 of Settlement dated 27.04.2010 and Clause (1) of Pension Settlement dated 27.04.2010 has become subject matter of judicial scrutiny by the Hon’ble Courts and Hon’ble Madras High Court has passed orders to stay the operation of these clauses.
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