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Retired Bank Unionist
Paul Joseph Goebbels -a German politiian and Reih !inister o" Propa#anda
in Na$i Germany "rom %&'' to %&() in his leture on the *Bi# +ie, said $I%
&'( )*++ , +-* .-/ *0'(/1 ,02 3**4 5*4*,)-0/ -), 4*'4+* 6-++ *7*0)(,++& 8'9*
)' .*+-*7* -):; -his theory popularly termed G'*..*+< )1*'5& in"luened
Adol" .itler/ German 0hanellor/ leader o" the Na$i party/ to make a statement
M,3* )1* +-* .-/, 9,3* -) <-94+*, 3**4 <,&-0/ -), ,02 *7*0)(,++& )1*& 6-++
.*+-*7* -);
1hen e2er bipartite ne#otiations o" the bank employees are in pro#ress 3e
had 3itnessed as in the past/ a systemati /and deliberate attempt is o" alumny/
slander / misin"ormation and anard is let loose/ 2omited by 4hi#her ups5 /
4orridors po3er5/ horused throu#h their aordions and paraded in the daily
press 6no3 in eletroni media too7 to "ud#e and sidetrak our 8ust demands
throu#h pre2ariations in tune 3ith the abo2e Goebbels theory .
-hese sel" prolaimed unauthenti/ irresponsible statements ouhed 3ith
spurious statistics by the 4hi#her ups5 3ith any rationale/ lo#i/ in2esti#ations
or study #ets aelerated push 3hen e2er bank employees are "ored to
obser2er strike in pursuane their 8ust demands and is o2ered by the "ourth
estate/ hood 3inkin# our "air demands/ 3ithout any ross 2eri"iation or truth.
9or e:ample e2en durin# this %; bipartite ne#otiations/ ne3s paper 3ere a#o#
o2erin# statement o" these 4hi#her ups5 suh as
State-run banks average salary overtakes that of private peers
Staff costs higher at public sector banks
Employee-benefit provisioning to hit public sector banks hard
All profit cant be used to pay higher wages
And son, so on
Suh irresponsible utteranes by 4hi#her ehelons5/ honhos are ne3 to ne3 to
all us.
!ark "wain/ 3as an Amerian author and humorist said <-here are three kinds
o" lies= lies/ damned lies and statistis, .as re8oinder to the "alse propa#anda
unleashed by "ores inimial to our 8ust demands /3e hasten to re3rite !ark
t3ain5s >uote as "here are# lies, damned lies and statistics of honchos in the
$ndian banking industry
But I have implicit faith and self belief that in the sunshine and reality of
our struggles for just causes these opportunists , weeds and poisonous ivy ,
stand exposed and our betrayers will betray themselves
Ri#ht "rom the Sen/ Sastri And ?esai -ribunal days these stran#e ar#uments
ad2oated by the bank lords be"ore the tribunals "or the bank5s disputes and
no3 by IBA/ stand elo>uent 3itness to this on2ition
@n the e:piry o" "irst bipartite in %&AA/ 3hen bank unions raised demand "or
seond bipartite as per the tenor o" "irst bipartite/ IBA ame out report o" BC%
pa#es to National 0ounil @" Applied Donomi Researh Ne3 ?elhi @n 1a#e
Struture In Indian Bankin# Published By None @ther -han -he Indian Banks
4Assoiation/ Bombay on %E
April %&A& misrepresentin# "ats that there is
substantial inrease in bank employees salary already.
1e had o"ten 3itnessed/ -he 9inane !inistry5s Bureau o" Publi Dnterprises
6BPD7/ a"ter disussions 3ith the representati2es o" the mana#ements only 60')
6-)1 )1* (0-'0< ,+<'7 o" the publi enterprises ad2ise the Administrati2e
!inistries 3ith re#ard to the "inali$ation o" the terms o" the lon# term
settlement o" 3a#e strutures. 9or e:ample Bureau o" Publi Dnterprises in its
ommuniation o" No2ember %B/ %&E% to the 2arious administrati2e ministries/
e:plained ho3 it has alulated the ost o" likely 3a#e settlements in the publi
setor undertakin# and had set out the <#uidelines 6blue print for wage
free%e&7 3hih the Publi Setor !ana#ements are re>uired to adhere 3hile
enterin# into ne#otiations 3ith the unions in their respeti2e undertakin#s,
In %&E;/ 3ith the "orei#n reser2es depleted/ and India 3as in 2er#e o" bankrupty/
unable to pay the dues abroad/ the then Go2ernment 3as onstrained to enter into
an a#reement 3ith I!9 "or F ) billion loan. -he I!9 in return demanded strin#ent
onditionalities and introdution o" strutural ad8ustment poliy. Aordin# to
I!9 memorandum %&E%/ India had to arry out a liberali$ed import re#ime 3ith
liberal import o" apital and tehnolo#y inludin# rela:ation in "orei#n subsidies
to all kinds o" e:porters/ replaement o" diret ta:es by re#ressi2e indiret ta:es/
disoura#in# the publi distribution system and enoura#ement o" open market
poliies e2en re#ardin# "ood/ 3a#e "ree$e and neessary trade union la3
amendments inludin# ne3 anti-strike la3sG and all round enoura#ement to
pri2ate setor 3ith re#ard to in2estment/ prodution and trade. -his paka#e o"
poliiesG beame the basis "or India5s import-pushed e:port oriented #ro3th
strate#ies in %&E;5s. 1ith this loan the seed "or NDP 3hih sprouted under
subse>uent re#imes be#an to proli"erate in subse>uent #o2ernmentHs era and
therea"ter. I) <1'(+2 .* 0')*2 -) -< 0') )1,) )1* NEP 6,< -0)5'2(8*2 %'5 )1* %-5<)
)-9* -0 1==1 -0 )1* 8'(0)5& ,< <'9*)-9*< 9,2* '() )' .* .& )1* +*%) 4,5)-*< -0
'(5 8'(0)5&; I0 )(0* 6-)1 )1* 4'+-8-*< '% IMF, *7*0 -0 1=>1, /'7*509*0) '%
I02-, '4*0*2 ? 4'-0) 0*6 81,4)*5 -0 I02(<)5-,+ 5*+,)-'0< @ '52-0,08*,
0')-%-8,)-'0<, ,02 2-5*8)-7*<; A#reement/ settlements/ ustoms/ pratie and
ulture o" indi2idual banks 3ere sealed in airti#ht ontainers and on"ined to the
?epartment o" Ahie2es 6"or "uture historians to ha2e a "ield day7. Ne#otiations/
disussions not only onsume time and ener#y/ but also re>uire the lo#i and sense
to meet sa#aity o" unions. So e2en indi2idual banks internal a#reements on
housin# loans/ promotions/ trans"ers and other 3el"are shemes et. as 3ell some
ser2ie onditions in the bipartite si#ned in aordane I? ats 3ere replaed by
direti2es I unilateral/ arbitrary and o"ten meanin#less. In tune 3ith abo2e
ad2erse trend as per the ad2ise o" Bureau o" Publi Dnterprises 6BPD o" the
Administrati2e !inistries set out the direti2es amou"la#ed as <#uidelines
6blue print for wage free%e&7 3hih the Publi Setor !ana#ements inludin#
IBA are re>uired to adhere 3hile enterin# into ne#otiations 3ith the unions in
their respeti2e undertakin#s 3ith re#ard to the "inali$ation o" the terms o" the
lon# term settlement o" 3a#e strutures/ resultin# in stalemate in ne#otiations
and onse>uent impasse. I0 )1* 1-<)'5& '% = <(88*<<-7* .-4,5)-)* <*))+*9*0)<
-0 )1* .,03-0/ -02(<)5&, IBA 1,< 0*7*5 *A*58-<*2 )1*-5 -02*4*02*0) 4'6*5
,02 6-++ )' 8'08*2* )' )1* 9*5-)'5-'(< +'/-8,+ ,5/(9*0)< <' )1* (0-'0<
1,7* '%)*0 4+*,2*2 1*+4+*<<0*<< -0 )1* 0*/')-,)-0/ ),.+* ! .() 1,7* ,8)*2
,< 4*5 )1* 2-8),)*< B )1* 2-5*8)-7*< '% )1* F-0,08* M-0-<)5& *7*0 '0 0'0
%-0,08-,+ 9,))*5<; T1*5*%'5* <' 8,++*2 -02*4*02*08* .*<)'6*2 '0 .,03< C
IBA -0 2*8-2-0/ HR 4'+-8-*< .-+,)*5,++& 6-)1 )1* (0-'0< ,< 4*5 )5,2-)-'0<
,5* 9*5* 51*)'5-8 '5 ,44*++,)-'0< -0 , M-0-<)*5D< <4**81, -0 <-94+* )*59<
.* 8,++*2 ,< 1',A.
@n the oasion o" their Golden Jubilee in the year %&E' the Dmployer5s
@r#ani$ations in India issued a statement o" 1a#e Poliy and Struture/ "or
3hih my omments are as under=
-he 1a#e Poliy statement tried to "eed the publi 3ith "alsehoods and 3orn
out theories e:ploded lon# bak. It is o" ourse baseless and ontrary to "ats
that <2oal and or#ani$ed #roups ha2e suess"ully seured lar#er share "or
their members "rom the national produt. -he 1a#es Poliy statement
ontinues to harp on the anti>uated/ 3orn out and lon# e:ploded "allay o" the
3a#e prie spiral theory 3hih is denouned e2en by onser2ati2e trade unions
all o2er the 3orld as an anti desi#ned to put do3n the real 3a#es.
-he employers/ in the name o" a <meanin#"ul 3a#e poliy,/ 3ants to do a3ay
3ith the system o" slidin# sale darkness allo3ane and the poliy statement
ar#ues that <3a#es are an important in#redient o" ost and there"ore/ automati
linka#es bet3een prie and 3a#es make the in"lationary proess sel"
<Another bu#bear trotted out by the employers in season and out o" season is
the system o" bonus payment. -he poliy statement also did not miss it/ and
repeated in the same 2ein. It stated <It is inonei2able that a onern 3hih
has inurred pro2ed losses has to pay a minimum bonus. -he net outome has
been losure o" se2eral mills or their unsatis"atory "untionin# <In no ase o"
losure/ ho3e2er/ has it be established that its ause is payment o" bonus to its
employees. But/ e2en in the e2ent o" pro"its o" an establishment/ the statement
says/ <it 3ould be patently 3ron# to "ritter a3ay a lar#e share o" this to meet
immediate onsumption needs,. -here"ore/ the statement onludes
<onsiderin# all the aspet o" the present bonus sheme it seems that bonus
should be abolished alto#ether,.
-hen 3hat kind o" a 3a#e poliy the employers 3antJ Aordin# to them/ there
an be no automati ompensation o" the rise in the ost o" li2in# 3hih in
e""et 3ould onstantly erode the purhasin# po3er o" 3a#es/ bonus payment
system should be abolished alto#ether and there is nothin# in the sheme o"
thin#s dra3n up by the employers in the shape o" a 3a#e poliy to determine
3a#es takin# into aount e2en the minimum needs o" the 3orkers. -he 3a#e
poliy statement talks about <a meanin#"ul 3a#e poliy,/ 3hih must
subser2eK learly de"ined national ob8eti2e o" seurin# hi#her rate o"
eonomi #ro3th,/ 1ill not lead to <setoral imbalanes,/ 3ill not upset prie
stability/ and that <apaity to pay is the "undamental in#redient o" a 3a#e
poliy/ and so on and so "orth/ ,02 2'*< 0') *7*0 9*0)-'0 )1,) 6,/*< ,5*
9*,0) )' <,)-<%& 1(9,0 0**2< ,02 )' 9,-0),-0 , 8*5),-0 9-0-9(9
<),02,52 '% +-7-0/ -0 )1* /-7*0 <-)(,)-'0;
Understandably/ the main tar#et o" attak/ both ideolo#ial and other3ise/ o"
the aptains o" industry and trade has in2ariably been the or#anised 3orkin#
lass 3ho despite odds ha2e been able to build up bar#ainin# po3er unlike 2ast
setions o" unor#ani$ed 3orkers 3ho are denied e2en elementary ri#hts and
bene"its. All loud talks and sheddin# o" roodile tears "or the unor#ani$ed
3orkers "or the 3ell-bein# o" the ommunity and "or the national eonomy on
the part o" the employers/ are mere prete:ts to ounterat the demands o" the
or#anised 3orkers/ to 3eaken their olleti2e stren#th/ to reate ill "eelin# and
enmity to3ards the or#anised 3orkers and thereby hekmate the latter5s5
laims "or hi#her 3a#es/ bene"its and ri#hts/ Similarly/ the ri#ht o" olleti2e
bar#ainin# has been sub8eted/ more so lately/ to all kinds o" batterin# and
inurred the odium o" the po3ers that be. B-/ .(<-0*<< <4'3*<9*0
81,5,8)*5-E* -) ,< $C'*58-7* .,5/,-0-0/: ,02 4*51,4< ,88'52-0/ )' )1*9,
/*0(-0* 8'++*8)-7* .,5/,-0-0/ 6'(+2 .* <-/0-0/ '0 2'))*2 +-0*< .& )1*
-he dri2e to brin# about host o" amendments to the e:istin# labour la3s all aim
at establishin# Go2ernment ontrol o2er the trade unions and their ati2ities at
the behest o" the employers/ to emasulate their role o" de"endin# and
"urtherin# the interests o" 3orkers and to rob them o" their "undamental ri#hts.
-he 1a#e Poliy statement/ ho3e2er/ re"ers to the international standards o"
3a#e determination laid do3n by the I+@ 3hih o" ourse ontradit the
riteria that are oneded by the employers in their "rame3ork o" a 3a#e
poliy. T1* 5*8'99*02,)-'0< '% )1* W'5+2 E94+'&9*0) C'0%*5*08*
5*%*55*2 )' -0 )1* 4'+-8& <),)*9*0), <),)*< )1,), )1,) )1* 0,)-'0,+ 6,/*
4'+-8& '% , 9*9.*5 <),)* <1'(+2 .* <(81 )1,) *0<(5* 9-0-9(9 +*7*+< '%
+-7-0/ ,02 )1* 5*,+ 6,/*< '% 6'53*5< ,5* 45')*8)*2 ,02 45'/5*<<-7*+&
-he 3a#e poliy adumbrated by the employers adds up to a poliy o" denial o"
proper 3a#es to 3orkers/ does not e2en mention need based norm o" a
minimum 3a#e to 3hih they a#reed alon# 3ith the trade unions and the
#o2ernment in %&)C. No 3onder/ suh a totally anti 3orker 3a#e poliy i" put
into pratie 3ill be a onstant soure o" "rition and on"lit bet3een labour
and apital/ and the #reatest ause o" industrial disputes and strikers and
Naturally 3e annot i#nore suh irresponsible diatribes a#ainst our 8ust
demands. 1e 3ish to ans3er to the spurious statistial 8usti"iations in their
3a#e poliy statements by these re2ilin# ritis in the 3ords o" Pro" A,5'0
L*7*0<)*-0- leadin# eonomist 3ho 3rote in the syndiated ne3spaper
olumn in No2ember %&)% itsel" "Statistics are like a Bikini bathing suit
!hat they reveal is suggestive, but what they conceal is vital"
In this artile an attempt is made to e:pose the reality and e:plode the myths
about the bank employees5 present 3a#es by presentin# realisti bank
employee5s bud#et by replyin# to the "alsehoods o" 4hi#her-ups5 mal-
propa#anda as under. #$here are two kinds of statistics% the kind you look up
and the kind you make up,. !y presentation is based on the statistis you look
up in your monthly Pay Slips.
.on5ble Pillars o" Indian Soiety
Re2ered Sirs/ +et me ha2e the honour o" presentin# this Bud#et in the interest
o" our an:iety o" ha2in# ordial relations 3ith the sea o" po2erty. -here are
only t3o "a2oured setions in our soiety 3ho en8oy the uni>ue position o"
bein# deported to o2etous Islands on Go2ernmental "lats. -he British
Go2ernment obli#ed the "reedom "i#hters like V.?. Sa2arkar and Bha#at
Sin#h5s ollea#ues by deportin# them to Andaman Island. Suh honour 3as
besto3ed on bank and insurane employees by the Go2ernment o" the
Independent India on the reommendations o" the orridors o" po3er and rulin#
elite. . As per their reommendations all bank and insurane employees ha2e
been deported to the hi#h 3a#e Island and sine then all !inisters 6o" all hues7/
publi "i#ures/ sheltered intelletuals/ Press Barons and 4D:perts5 o" all sorts
ha2e unhesitatin#ly lent their assistane in sa"e #uardin# the territorial inte#rity
o" this o2etous Island/ by raisin# 2ery many barriades on 43ar "ootin#5.
Sir/ I ha2e spent my "orty t3o years5 e:periene in onstrutin# this Bud#et. I
3aited "or (B years in #i2in# 4"inal touhes5 to this Bud#et but the disparity
bet3een Reeipts and Payment disheartened me e2ery time.
Dmboldened by the ?e"iit Bud#ets e2ery year and unhampered e:pansion o"
State Go2ernments5 o2er dra"ts/ I #athered enou#h ra3 oura#e to present this
so alled .i#h 3a#e Islander5s Bud#et. I am e:tremely thank"ul to the learned
leaders o" our soiety "or makin# me realise that ?e"iit Bud#ets are part o" our
li"e/ like .i#h or lo3 blood pressures and diabetes and that I ha2e to li2e 3ith it
<boldly,/ pre"erably by blamin# others/ suh 2ituperations 3ill ser2e as
palliati2es and tran>uilisers. All e:istin# Go2ernments ha2e blamed the
pre2ious Go2ernments/ suh periodi outbursts ha2e helped me in restruturin#
our 2alue pattern. Strutural han#es "or sel"-reliant eonomy an 3ait but
strutural han#es in our 2alues must by made on 3ar "ootin#.
Sirs/ I am also e:tremely thank"ul to those 3ho inspired me in dra3in# this
Bud#et 3ith their Brilliant ideas o" !althusian !adness and Leynsian methods
o" postponin# the rises/ 3ithout their help/ no sensible man an dra3 Bud#ets.
%. -he basis o" this .i#h 1a#e Islander5s is the Islander 3ho
ompleted his %; years o" ser2ie 3ho #ets hi#hest inrement
alled us hump inrement o" Rs.%';; in runnin# sales o" pay o"
B; sta#es and therea"ter sta#nation on this o2etous Island. Suh
an Islander is not #enerally subsidi$ed by his parents "rom the
<Sea o" Po2erty, and 3hose "amily omponents ha2e su""iiently
#ro3n up to 2oie their demands relyin# on the 4e:perts5 o" the
B. -here are mainly t3o items o" subsides=
b7 -he Islanders ha2e an inalienable Ri#ht to marry any one "rom the Sea
o" Po2erty. Suh inome omin# "rom the Sea o" Po2erty in the "orm o"
3i"e5s or husband5s salary need not be onsidered separately in 2ie3 o"
the "at that suh subsidies are o""set by the soial o2erheads suh as
takin# are o" hildren 3hile both husband and 3i"e are at 3ork. -hey
also inur e:horbitant e:penses on monitorin# the studies o" their
hildren. !oreo2er the pattern o" their sa2in#s 6or absene o" sa2in#s7
on2ined me that they an be taken at par 3ith the bread 3innin#
7 @2ertime Allo3ane= As per ministerial delarations. @.- is banned and
is e:ised in his le:ion thou#h it e:ists on paper in bipartite settlement
in 2o#ue 3hih is no3 onsi#ned to historial arhi2es.
N.B. Sine there is no hane o" "ull neutrali$ation o" liabilities/ I
trans"erred these liabilities to the General +iabilities Aount/ in 2ie3 o"
stoppa#e o" o2ertime on the Island.
Re2ered Sirs/ I am "ully a3are that there are 2ery many onstraints on my
ompilation due to orret statistial in"ormation. But i" Simla Bureau an
onstrut the Inde: Numbers "or our ?.A. 3ithout statistial in"ormation and
the Go2t. o" India/ 3hen under the Ste3ardship e:pert/ eonomi ad2isors
ould ome to the onlusion o" allottin# ;.E onsumption Unit to 3i"e/ 3ithout
any rational basis/ Sir/ I "eel my methods o" ompilation are ommensurate
3ith the General ethos o" the land.
Reeipts and Payments at a #lane=
Basi Salary Rs.%E);; Groer5s Bill "or
= Rs. ));.;;
6A persons 7
6a#ed mother N "ather/
spouse / 3ido3ed sister/
Bhildren 7
?.A Rs.%&CB% Dletriity 0har#es Rs.'();
..R. A Rs.%&B) !ilk Rs.%B')
0. 0 A N.A Rationin# Rs.B(C;
PPAH9PA Rs.B); Ne3spapers Rs.B%;
Rs.BC) 9ees
S1@ IB Rs.);; !aid Ser2ant Rs.%;;;
Shool "ees H tuition lass
0able har#es Rs.);;
T'),+ R<;G11H1 R<1G?=5
O based on the pay slip of member for the month August '()*+
+ess= Standard ?edutions
0omponent. In Rs.
P.9 %&B)
Pro"essional ta: B;;
Soial bene"it sheme 6to be paid to "amily o"
deeased on death in harness7
Union "ees %;;
Inome ta: %);;
0redit soiety loan C%)B
9esti2al ad2ane 6in lieu o" Bonus7 'E;;
NS0 loan %;;;
Pro2ident "und loan %BC;
Sta"" housin# loan ('''
Additional sta"" housin# loan 6on enhanement
in >uantum "or repairs and reno2ations/
+I0 %A''
Sta"" lub );
T'),+ 2HGIH
Net Salary Rs. BA;(
Add !in.
a7 0on2eyane "or all "amily members Rs. ';;;.;;
b7 @ut o" Poket e:p. o" 0hildren Rs. A;;.;;
7 Dntertainment e:penses N.A
d7 Soial obli#ation N.A
e7 D:penses o" Books N Periodials "or enli#htenment N.A
"7 D:penses on lothes N "oot3ear N.A
#7 D:penses on !ediines beyond !.Aid N.A
h7 Payment o" installment on loan "or do3ries/ N.A
A;-(; basis in addition to .ousin# loan #ranted to Dmployees.
Re2ered Sirs/ Lindly note that the aommodations are not a2ailable 3ithout
payment o" on money 63hih the Go2ernment o" India tried to attrat7 and the
employer does not pay "or this money.
N.A. 9i#ure not a2ailable
I ha2e not reoniled total de"iit beause o" 2ariable "ators and I propose to
lea2e the alulation o" the total de"iit on the ima#ination and onsiene o"
the .on5ble pillars o" the Soiety.
I respet"ully be# pardon o" all my ollea#ues "or ha2in# disturbed their Soial
presti#e/ but I am on"ident that at least by no3 our ollea#ues must ha2e
realised the -ruth in this Soial system" C5*2-) 6'5)1-0*<< -< ,<<*<<*2 '0
+-,.-+-)-*<, ,< -) 5*45*<*0)< <'8-*)&D< %,-)1 -0 )1* 4*5<'0
E02 0')* )' .,03 *94+'&**<= it is true that 3e #et automati inrease in ?.A
e2ery >uarter 3hen prie #o up. But it is also a "at that purhasin# po3er
rashes 3ith the speed o" roket. -he ondition o" the pay paket #ettin# empty
too soon is 3hat the eonomists all 4in"lation5 I rather a ontradition in terms/
sine 3hat you e:periene/ in "at/ is the 2ery opposite de"lation. 1e need not
>uarrel 3ith the eonomists o2er the oinin# o" the 3ord sine 3e ha2e other
thin#s more important to >uarrel about. And that >uarrel is that 3hen the
apaity o" the pay poket to streth #ets rather shrunk/ the si$e o" the shrinkin#
should be seen in the rise in the ost o" li2in# inde: 6or the onsumer prie
inde:7 but in2ariably both do not totally. -hat is/ 3hen you an li2e 3ithout a
loan till the ';
o" the month under ordinary irumstanes and on a #i2en
standard o" subsistene 6as the appropriate pay ommissions or tribunals ha2e
ondesended to "i:7 and the e:periene is repeated in subse>uent months/ the
ost o" li2in# inde: 3ill remain onstant. But 3hen the loan beomes
immediate on the B; the subse>uent month/ it means your purhasin# po3er is
redued by one-third and this should be seen in the rise in the ost o" li2in#
inde: by ''.' per ent But 3hen that rise is not e2en sho3n as three per ent let
alone ''.' per ent you ha2e a ri#ht to be indi#nant 3ith the eonomists and
statistiians. .ene 9or all us "irst 3eek happens to be 4,4*5 6**3 and last
3eek 4,(4*5 6**3. In bet3een 3e raise loan/ one a#ain raise loan to repay
old/ outstandin# loans. -his -55*7'8,.+* +*))*5 '% 2*.-) ontinues till 3e retire;
And 3hen 3e retire the measly superannuation bene"its are not enou#h to tide
o2er o" miseries o" retired li"e. -his is reality and pli#ht o" a bank employee
3hih he or she o2ers under the "aade o" "alse illusions and petty middle
lass notions.
I) -< , 4-)& ,< <*57-0/ *94+'&**< ,5* .*-0/ 2*0-*2 4,5-)& 6-)1 C*0)5,+
G'7*509*0) E94+'&**< I
4,& 8'99-<<-'0D< <8,+*<; A02 5*)-5*2
*94+'&**< ,5* 2*0-*2 (42,)-'0 ,) 4,5 W-)1 C*0)5,+ G'7*509*0)
E94+'&**< ,< 4*5 )1* I 4,& 8'99-<<-'0; I< )1-< 0') 9-<8,55-,/* '% J(<)-8*
)' ,++ '% (<K
Y'( A5* V,+(,.+*
A well known speaker started off his seminar by holding up a ,s+-(( bill+ $n the
room of '((, he asked, ./ho would like this ,s+-(( note0.
1ands started going up+
1e said, .$ am going to give this ,s+-(( to one of you but first, let me do this+.
1e proceeded to crumple the dollar bill up+
1e then asked, ./ho still wants it0.
Still the hands were up in the air+
./ell,. he replied, ./hat if $ do this0. And he dropped it on the ground and
started to grind it into the floor with his shoe+
1e picked it up, now all crumpled and dirty+ .2ow who still wants it0. Still the
hands went into the air+
.!y friends, you have all learned a very valuable lesson+ 2o matter what $ did
to the money, you still wanted it because it did not decrease in value+ $t was still
worth ,s+-((+
!any times in our lives, we are dropped, crumpled, and ground into the dirt by
the decisions we make and the circumstances that come our way+
/e feel as though we are worthless+ 3ut no matter what has happened or what
will happen, you will never lose your value.
Y'( ,5* <4*8-,+ B D'0L) *7*5 %'5/*) -)
T1*5*%'5* 1,7* <*+% .*+-*% -0 &'(5 ,.-+)& ,02 8,4,8-)& )1,) &'( 8,0 9,3*
)1-0/< 1,44*0 ,/,-0<) ,++ '22<; @n you depends e2erythin# in the Union/
"or history is a proess o" e2olution o" human thou#ht and onsiousness. It
is not made to order. 1e ontain in oursel2es a 3ell o" reati2e "ores. It is a
sprin# 3hih ne2er dries up. -he more 3e dra3 "rom it/ the more 3e "eel
ener#i$ed/ elated and e:hilarated. It is the orret ombination o" the
reati2e proess 3hih sprin# "rom the 3ell o" thou#ht and onsiousness
that p;ushes the human story to resends o" #lory and ahie2ements. I" 3e
are stati e2erthin# remains stati. RememberP -hat 3e are arhitets o" our
o3n destiny. +et us #rapple the horns o" history/ shake it/ and shape our
"uture by Unleashin# propa#anda a#ainst "ores #an#ed up unison to deny
our 8ust 3a#e re2ision by e:plainin# orret "ats and truths. -he ob8et o"
this series o" artiles #i2in# 8usti"iations o" our demand is to disen#a#e
truth "orm "alse hood "or truth is beatui"ul and truth triumphs al3ays .
Remember "riends= 3a#es or pri2ile#es 3e #et today are not harity o"
IBAHGo2t. It is the herita#e and le#ay o" our sustained stru##les and inspirin#
&are to struggle, &are to win in pursuane o" sarosant demand hike o" B)Q
in pay slip omponent.
now at least let them not mourn
and allege Bank employees earn.
more than they yearn
statistics they should learn
Low Wages and High Productivity is EXPLOITATION
Low Productivity and High Wages is CHAIT!
Low Wages and Low Productivity is "#ICI$E
High Wages and High Productivity is PO"PEIT!%
T' .* 8'0)-0(*2 ;;

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