 Welcome to NewsClick with the Memorandum of Understanding being signed between 8th of the 9 Unions of the UFBU and IBA and Biffy refraining itself from signing the Union. There has been a lot of questions arise among the present and the retired employees of the banks. So, let us welcome C.P. Christensen, Joint Secretary of the Bank Employees Federation of India to give us insights about what is happening around and why Biffy has signed the MOU. It is not only Bank Employees Federation of India, but also many of the signatory unions have expressed displeasure about this MOU. The common charter of demands was submitted much before the expiry of the 10th Bipartite settlement. There have been so far 44 rounds of discussions including the one held on 22nd July 2020. Like any other settlement, this settlement also has been very turbulent seeing lot of agitations, demonstrations, strikes, etc. The Indian Banks Association started with a meager offer of 2% increase and after a lot of struggle it has come up to 6%, then 8%, 10%, 12.25%, 12.5% and then 15%. To make IBA commit 15% a lot of struggle has been in two. After that the question of settling other issues came up. The non-financial issues also were discussed in the small committee and a broad understanding has been reached on many of these issues. In the year 2020 January 13th there was a bilateral discussion in which the IBA was very adamant and thus the talks broke down a series of strike calls were given on 15th January 2020. 2020 January 31st and February 1, 2 days massive strike was observed by all the unions, 10 lakh employees and officers, strike work and huge demonstrations took place in almost all the centres and which were strongly supported by the retirees. Subsequently there was a bilateral discussion on 29 February in which IBA came down to agree many of these issues and that is why the strikes that were scheduled in the month of March and the indefinite strike that was proposed on 1st April 2020 were deferred. What was the understanding on 29 February? On 29 February besides settling all these issues of non-financial demands and also 15% increase in the pay slip component, the other issues raised by the EOBU also were agreed by the IBA. For instance, 5 days banking they said they will consult the stakeholders and come back. In the case of method of special elements they said it is open, they will work out the cost jointly. In the case of loading they said they will definitely consider more than 2% and also work out the cost and also the question of pension revision for the retirees that also they said they will share the data and also they will work out the cost and the talks were very smooth and because of that the subsequent struggle programs were withdrawn. But all of a sudden on 22nd July 2020 a memorandum of understanding was signed in which many of the organizations are telling towards EOBU convener that they were not consulted properly. This is the issue. Now BEFI is professing and propagating the issues that have been commonly agreed by EOBU and left out after 29 February. What are the issues? One, if you take the percentage of increase that was settled at 15% even though there is a further scope on pay slip component. The pay slip component itself came into existence only from the 10th by party settlement. Up to 9th by party settlement the discussion was centered around the overall load but during the 10th by party settlement united form of bank unions thought instead of discussing the overall load it can confine itself to pay slip component. That means the items that are appearing in the pay slip like basic DA, HRA, CC in the case of officers, professional qualification pay, special pay etc., etc. So with the increase in the pay slip quantum with that understanding whatever may be the load that may accrue on account of superannuation benefits irrespective of the load that has to be borne by the IBM. This was the basic understanding of EOBU. With that understanding EOBU approached IBM at the time of crucial time of settlement of 10th by party settlement in February 2015. At that time IBA came out that they will not agree beyond 2% of loading for the purpose of superannuation benefits with the basic pay. This was the bone of contention. It was not like to buy almost all the unions but they agreed. Subsequently during the 11th by party settlement this has been the first and foremost demand. The injustice perpetrated in the 10th by party settlement on account of lesser loading up to 2% it has to be rectified. In the case of workmen it is 7.75% special pay. In the case of officers it is 9, 10, 11% of the basic pay. This has to be rectified. Only if it is rectified the superannuation benefits will have its real benefits and those who retire during this period would get all the benefits. This time even though on 29th February IBA agreed but finally in the MOU this is not finding a place. IBA has flatly refused to revisit their own commitment of merging the special elements with the basic pay. As far as the loading of basic pay is concerned this time also it has been pegged at 2.5%. There is enough scope for merging up to 10% of the loading in the basic pay but it is not agreeable to IBA and a memorandum of understanding has been signed without the proper loading. This is another important issue of the bank compliance movement. Thirdly 5 days banking is the demand of the bank employees for the past more than 7, 8 years. Even during the last by party settlement it was originally agreed but later they said first second and fourth Saturdays they will give holidays and then they will consider 5 days banking and 5 days week but that was not happening and the entire money market reserve bank of India, share market, central government, many of the state governments they function only for 5 days. So bank employees and offices also need to maintain work life balance and therefore this is a very dear demand to all the bank employees and fourthly national pension system. The management is contributing 14% of the basic and DA and the employees are contributing 10% of the basic and DA as per the understanding of this memorandum of understanding but there is no definite pension, definite benefit. The bank employees who are going to retire after some years they do not know what quantum of pension they will get. So that is why the bank employees movement has been very clearly propagating demanding and professing that national pension system should be scrapped and all should be brought under the defined benefit scheme and this is one of the foremost and important demands BFI is propagating and the next one is updation of pension. From the introduction of pension in the year 1995 with retrospect effect from 1986 there has not been any updation at all and reserve bank of India they have updated central government with every pay commission they are updating. The retirees forum in Kerala has come out with a very clear statistics that there are enough resources to update the pension but that is not happening and if you are leaving this time it is unlikely to happen next time also because in the 10th bipartisan settlement there was a record note in which it has been agreed that it will be discussed but it has never come for discussion therefore this is another important demand and PLI is one what is PLI? PLI is performance link incentive it is going to differ from bank to bank initially it may differ from bank to bank later it may differ even from person to person and it is going to create division that is why bank employees federation of India is opposing PLI and family pension as far as the family pension is concerned there has been a very good announcement on 22nd july after the MOU by the IVA chairman that it would be considered at par with the central government employees with 30% pay lost on pay without any ceiling that's a welcome step that has to be implemented. These are the vital issues of the bank employees serving as well as retired these issues will bring a lot of change in the economic status of the employees as well as retirees and it will also improve the service conditions but IVA and government are very adamant they are citing economic constraints they are citing cost factor as the impediment for settling these issues this is absolutely unacceptable during the 10th by party settlement the overall business has improved from 85 lakh crores to 187 lakh crores 187 lakh crores and at the same time the overall profit the operating profit earned by the bank employees during this period is 6,36,000 crores the per employee business mix has increased from 19 crores to 27 crores during this period 21,000 bank employees have been reduced whereas 23,000 bank branches have been opened and therefore there is a heavy workload and there is enough cost to take care the adamant attitude of the IVA and the government have to be fought only then we will be able to achieve all these demands and that is why bank employees federation of India is very keen to propagate these demands we seek the support of the employees as well as retirees so that a better life can be ensured and light can be brought in the lives of bank employees serving as well as retired. Hope that all your answers have answered many of the questions of the serving as well as retired employees all your insights into the high-parted settlement what has been happening so far has been very good sir and thank you for joining with us thank you