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Tuesday, April 17, 2018

Follow Up With IBA Satisfactory

( A.I.B.P.A.R.C.)

Mobile : 9830403145, E-mail :

Circular No. 33/18 16.04.2018
(For circulation among all the members of the Managing Committee as well as the
Governing Council of AIBPARC, Special Invitees,
State Secretaries and Advisors of AIBPARC.)

Dear Comrades,
Joint Struggle for Updation of Pension and Abolition of New Pension Scheme

We reproduce hereunder a letter dated 09.04.2018 of Joint Convenors, CBPRO written to Convnor, UFBU on above subject for information of members.

With good wishes,
Dated: 09.04.2018
Shri Sanjeev K Bandlish
Convenor, UFBU
General Sectary, NCBE
C/o State Bank of India,
Dear Com. Bandlish,

Joint Struggle for Updation of Pension and Abolition of New Pension Scheme

It is a matter of great satisfaction for all Bank Retirees that UFBU has been championing the cause of Bank Pensioners and Retirees right from singing of Historic Pension Settlement in 1993 and subsequent  improvements from time to time like removal of strike clause, 2nd Option for Pension and rectification of other anomalies.

However the following important issues have been a matter of serious concern both for
the Retirees and the Serving Employees:

Updation of Pension as provided under Bank Employees Pension Regulation 35(1).

Bringing those Employees who are recruited after 01.04.2010 under existing Defined Benefit Pension Scheme by abolishing New Pension Scheme.
Improvement in Family Pension Scheme as prevailing in Government and RBI.
Reckoning Special Allowance for the purpose computing Pension.

(Affiliated to All India Bank Retirees’ Federation)
A/12, Girdhar Apt., Kastur Park, Shimpoli Road, Borivali (W), Mumbai 400 092
Chairman    President       General Secretary
D. A. Masdek  B. G. Raithatha         R. K. Powar
9970899393        9427207021         7710030963           
No. 101/2018           8th April 2018

To: All Office-bearers / CC Members / State Units of AIUBRF

Dear Friends, Office Bearers Meeting held at Indore on 7th April 2018

The Meeting of Office Bearers of All India Union Bank Retirees’ Federation was held in Samrat Hotel, Indore, on 7th April 2018. The Meeting was attended by 16 Office Bearers, and 5 others. Several Office Bearers expressed their inability to attend due to various reasons, but from some there was no intimation.
1. Shri D.A.Masdekar    Chairman Maharashtra
2 Shri B.G. Raithatha  President Rajkot, Gujarat
3 Shri M.K. Sengupta    Vice President West Bengal
4 Shri Pratap Shukla    Vice President Uttar Pradesh
5 Shri K.P. Rao    Vice President Karnataka
6 Shri D.A. Vengurlekar Vice President Maharashtra
7 Shir M.S. Chourey    Vice President Indore, M.P.
8 Shri M.K. Mundul Jt. Gen. Secretary Maharashtra
9 Shri R.K. Verma Jt. Gen. Secretary Uttar Pradesh
10 Shri U.P. Kavadi Jt. Gen. Secretary Maharashtra
11 Shri L.S. Barai Organising Secretary Maharashtra
12 Shri Md. A. Salam Secretary West Bengal
13 Shri M.D. Solanki Secretary Rajasthan
14 Shri S.S. Shukla Secretary U.P.
15 Shri Arjun Kharat Treasurer Maharashtra
16 Shri S.S. Rane Asst. Treasurer Maharashtra
17 Shri P.B.Raghavendra Rao Permanent Invitee, AP
18 Shri R.K. Agarwal Special Invitee Gen Secy of UBRA-UP
19 Shri A. Poornachandra Rao Observer-Participant Andhra Pradesh
20 Shri A.K. Singh               ..Do..                   Varanasi, U.P.
21 Shri C.V. Khanzode     ..Do..                    Nagpur, Maharashtra

The Meeting was initiated with the Welcome by Shri M.S.Chourey, Treasurer AIBRF, and Vice President AIUBRF, & General Secretary of our Indore Retirees’ Unit, and our Host of the meeting.

Thereafter Shri S.C.Jain, General Secretary, AIBRF inaugurated the Meeting. Shri Jain spoke on the recent developments of the outcome of Supreme Court Judgements which have given a fillip to the retirees movement, as a welcome changed trend benefiting the Retirees. He heartily congratulated, the petitioners who had filed the writs, and fought tirelessly in the Courts to finally achieve the demand against anomalies of implementation of the Pension agreements on granting notional service of 5 years to specialized Officers under regulation 26, the Compulsorily Retired employees, and the anomaly of re-fixation of basic pay on Index of 1684 for those retired between 1998 to 2002, for which arrears should be paid from date of retirement alongwith 9% interest, instead of 1.5.2005 as provided in the 8th wage settlement.

The victory was possible, he said, because of the constant pressure through letters to Government M.Ps & Officials, and action programs conducted by the Retirees under AIBRF banner, to ensure the change in approach of Govt/IBA, who extended the benefits of Court Judgements to all eligible retirees, and not just petitioners.

He also stated that constant meetings of AIBRF with the authorities could change this approach of IBA from their arguments of high cost of payment of Pension anomalies, and to extend benefit to all retirees, including the Private sector Bank Retirees. The time limit of implementation of the judgements as well as the 9% interest payment for the delays were momentous decisions for Retirees.

He stated that about 500 eligible specialized Officers would benefit, with approx. arrears of Rs.1.5 lakhs to Rs.5lakhs, with increase of Pension from Rs.800p.m. to Rs.2000p.m. In the case of CRS employees, about 1272 cases will benefit at all India Bank levels. In the case of refixation of basic pay @ index of 1684, about 1 lakh retirees are likely to benefit with arrears of Rs.40,000 to Rs.70,000.

While exhorting the Retirees to remain vigilant for struggle on the remaining issues of Updation of Pension for retirees, Family Pension improvement, 100% DA to all retirees, and pension Option to resignees, Shri Jain expressed confidence of resolving these matters as well.

Speaking on the outcome of the meeting of AIBRF Office Bearers held on 2nd & 3rd April at Vijayawada, Shri Jain appealed to raise the maturity approach of the retiree organisations, stating there was need for disciplined, balance in action & behavior of affiliated Units, and not to question the loyalty to AIBRF, but show loyalty at all times. He stated the strategies adopted since 2005 had had its effect, and now with change in approach of IBA, the consolidation of AIBRF was essential.

Announcing that the OBs had proposed to hold the Conference of AIBRF soon, with the completion of its term, he appealed for unanimity & consensus in this direction.

Several Office bearers asked for clarifications on the judgements, to which responses were given, and the AIUBRF was urged to be alert to misinterpretations of implementation by the Bank.

On behalf of the Office bearers of AIUBRF, Shri K.P.Rao, Vice President, thanked Shri Jain on enlightening us on the decisions of AIBRF and for the useful guidelines given to us as affiliates.

It is now upto us to ensure the all eligible retirees of Union Bank get the benefit of the SC Judgements as passed on by IBA to our Bank for implementation. Details of the Banks circulars are expected shortly, and we have been assured of sufficient time to implement the same.

The agenda of the meeting was thereafter taken up with preliminary discussions on the participation of those present, and it was clarified that the deliberations should be restricted to  office bearers & invitees only. At the outset, constraints over presiding raised by Shri Raithatha, were debated and clarified by the Office Bearers, and the agenda was taken up by requesting Shri M.K.Mundul Jt.General Secretary, to present the same on behalf of AIUBRF, in the absence of Shri R.K.Powar, General Secretary, due to illness.

Speaking on the document circulated on a perception of approach due to changes in the retirees’ movement, Shri Mundul urged for interaction among Office bearers. The perception related to changes in the expanding membership, their outlook and expectations of the Retiree movement. He also presented a brief picture of the Banking Scenario, the image of Banks consequent to huge NPAs, frauds by large borrowers, intervention of Govt/RBI with new directions to resolve & recover defaulting loans, and the retirees’ perceptions to all these happenings. He stressed the need for updating retiree on new Banking measures, to be in sync with the Banking Scenario. There was a need to identify the situation with our past experiences, and to involve ourselves wherever possible. He also stressed upon the broader social role we have to play to ensure dignity and respectability of retirees in India’s society.

Finally, he touched on the need for discipline in our working, to ensure our expressions through the social media can bring about positive solutions through our thought processes. He urged the house to reflect on the advice of Shri Jain as reflected in the CC forums of AIBRF at Nagpur & again at Ujjain, and now once again at Vijayawada on ventilation of grievances publicly, disturbing the organizational functioning and damaging the unity of retirees. The letter on discipline by Shri Masdekar had also been circulated once again, to bring about discipline of approach.  (The document is on record for those who would want to read the same )

Shri Mundul while placing the first agenda, clarified the same would be introduced in 2 parts.

He placed part 1 of the agenda of taking a decision on nominating an Office Bearer to function in the absence of Shri R.K. Powar, GS, due to illness since November 2017. He apprised in detail about Shri Powar’s illness, chronologically, from then till date. The discussion was thereafter taken up for debate.

Except for a single proposal, to which clarifications were given, the house adopted the decision that Shri M.K.Mundul, Jt.Gen.Secretary would act as Gen Sec, AIUBRF, in absence of Shri R.K.Powar, Gen Sec, till he is fit to resume office.

Placing part 2 of the agenda, Shri Mundul stated that Shri Raithatha, as Gen Sec, UBREA,Rajkot, was continuing to have coordination with the rival retirees, despite the decisions to the contrary by AIBRF/AIUBRF, and clarifications on this approach needed to be taken by the house.

Clarifications were made by Shri Raithatha placing reasons for his approach. A number of Office bearers debated on not making the matter contentious, and the disparity of approach by rivals in other states. Reference was made to the decision to coordinate with rivals was contrary to decisions taken in the AIUBRF CC.  It was also pointed out resolutions on discipline were adopted at the CC forum of AIBRF, to ensure better discipline in the organization.

Speakers insisted that unity of AIUBRF needed to be maintained at all costs, and Shri Masdekar emphasized that distortions of approach under any kind of threats was not conducive to healthy functioning of the organization.

With the unanimity of approach, the office bearers decided that the General Secretary, Union Bank Retired Employees Asscn, Rajkot, Gujarat should not have any separate coordination with rivals in Gujarat, and this must be stopped forthwith, until debate on a wider forum decides otherwise. The Office bearers decided that Units needed to adhere to a discipline and ensure a correct image of the organization.

Taking up agenda 2, Shri Mundul clarified that the list of issues had been circulated, and the main objective was to ensure a platform was made available for retirees’ interaction & redressal. He expressed dissatisfaction at the indifferent approach of the Top management on discussing policy issues with retirees, making an excuse of multiplicity of retiree organisations. He spoke on the various issues of the retired employees and explained that the grouping on issues was done on the various subjects affecting the retirees.

The Bank has informed that the circulars to extend the Pension to specialized Officer, and CRS employees would be issued shortly. Bank has decided to invite applications of eligible retirees by advertisements, within a time frame. AIUBRF has already alerted all Units to be ready to propagate the SC Judgments widely, to ensure all beneficiaries get the benefit.

The difficulties of the retirees under the Medical Insurance Scheme were the largest issue. It appears that the intervening capacity of the Bank with the Insurance company was poor, despite the interaction with the representatives of the TPA of Insurance company, and their assurances to the inservice Unions, the difficulties even of active service employees, remain unresolved.

 It was proposed to set up a sub committee  of Office bearers of AIUBRF to prepare a document on the difficulties of retiree members, within a time frame. The reluctance of the Union apex body to agree to be part of the monitoring committee proposed by IBA recently, required a rethinking to ensure effectiveness of the Scheme. AIBRFs recent decision to intervene & take steps to hold discussions with IBA/UIIC for reduction in premiums and improvements in other terms and conditions in base policy, was welcomed.

Office bearers emphasized that issues required immediate resolving, especially issues relating to REMAS, Medical Insurance scheme deficiencies, improvement in welfare measures etc.
While accepting the need to make additions to the list of issues; it was also agreed to list individual retiree matters and submit to Bank.

It was agreed that a time frame will be given to the Bank for discussion on the list of issues, failing which the AIUBRF will adopt organizational steps.

On the last agenda, Shri Raithatha informed about the decision of AIBRF to collect a levy from affiliate Units @ Rs.10/- per member, after the pension was affected to beneficiaries. It was proposed that the amount be increased to collect an additional amount @ Rs.10/- per member to be paid to AIUBRF.

Shri R K Agarwal suggested the issue of retrospective payment of Gratuity be taken up by AIUBRF. During the debate on this proposal, it was agreed that this should be examined, keeping in mind the lack of technical support to this demand, and the need for it being raised for a concerted attempt of a wider platform of working people.

Thereafter, Shri. P. B. Raghavendra Rao, Permanent representative of AIUBRF spoke on the unanimity of the Office Bearers to rise unitedly to undertake the task of functioning. While wishing speedy recovery to Shri Powar, he exuded confidence in the outcome of the deliberations. He expressed his thanks and gratitude to the Indore Host Unit and all the volunteers for the excellent stay and food arrangements made for conducting the meeting on 7th April 2018. He praised all the volunteers of the Indore Unit for their support and ensuring the Office bearers had a comfortable stay in the hotel.

The President Shri. B. G. Raithatha thereafter declared the meeting concluded.

Those Units who have not informed us the names, addresses and contact numbers of their respective CC Member/s, are requested to do so immediately.

We look forward to a Unified approach by all Units to create confidence in our retiree members. Let us Unitedly & Purposefully work to strengthen AIUBRF.

With warm regards,
       Yours truly,

        (M. K. Mundul)
    Jt General Secretary

Friday, April 13, 2018

Excellent Letter TO Prime Minister

Chennai, India
13 APR 2018 — To
The Prime Minister of India
New Delhi.

Dear Prime Minister,

Sub: Gratuity Amendment Act 2018 –Request for Re-fixation of Appointed Date as 01/01/2016.

Namashkar. Sorry to address you very casually as I sincerely feel that any other ways of salutations will be adjectives in nature but the word DEAR is apt as it emanates from the depth of my Heart.

I am a retired Banker, retired on 31.01.2017 from a Public Sector Bank after serving the institution for 34 years honestly with dedication. Under this background I put forth the following issue on behalf of me and several other employees retired from 01/01/2016 to 29/03/2018, for your kind consideration and favourable orders:

Recently, the long and eagerly awaited Gratuity Act Amendments were notified on 29/03/2018 enhancing the Ceiling to Rs.20.00 lakhs (from the existing Rs.10.00 lakhs) with the Appointed Date (effective Date) as 29/03/2018, which made several Senior Citizens/Retired Employees other than Government Employees disappointed and frustrated due to deprivation of a genuine monetary benefits under the Act from 01/01/2016, the date from which the Government Employees were awarded enhanced amount.

Gratuity is one of the most important Social retirement benefits for all the section of the employees, the work force of the country. Due to the continuous inflationary trend and erosion in value of rupee, several Trade Unions viz. BMS/HMS/AITUC/CITU and all other Central Trade Unions had been representing to the Government from time to time for improvement/removal of ceiling under the Gratuity Act. Due to their effort, the ceiling was increased from Rs. 1 Lac to Rs. 2.50 Lacs, Rs.2.5 Lacs to Rs. 3.50 Lacs, Rs.3.5 Lacs to Rs. 10 Lacs in May, 2010 and again recently to Rs.20 Lacs. This increase during the last five decades had been necessitated due to constant increase in inflation, the efforts of the Central Trade Unions and accepting the reality by the earlier Governments and the present Government.

The present Amendment is also aimed at continued Social Security to retired workmen in the country and was approved in the background quoted below from the excerpts of Cabinet Note dated 12/09/2017:

“The Payment of Gratuity Act, 1972 applies to establishments employing 10 or more persons. The main purpose for enacting this Act is to provide social security to workmen after retirement, whether retirement is a result of the rules of superannuation, or physical disablement or impairment of vital part of the body. Therefore, the Payment of Gratuity Act, 1972 is an important social security legislation to wage earning population in industries, factories and establishments.

The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh. The provisions for Central Government employees under Central Civil Services (Pension) Rules, 1972 with regard to gratuity are also similar. Before implementation of 7th Central Pay Commission, the ceiling under CCS (Pension) Rules, 1972 was Rs. 10 Lakh. However, with implementation of 7th Central Pay Commission, in case of Government servants, the ceiling now is Rs. 20 Lakhs effective from 1.1.2016.
Therefore, considering the inflation and wage increase even in case of employees engaged in private sector, the Government is of the view that the entitlement of gratuity should be revised for employees who are covered under the Payment of Gratuity Act, 1972. Accordingly, the Government initiated the process for amendment to Payment of Gratuity Act, 1972.”
From the above one may infer and firmly believe that the intention of the Government is to provide Social Security to ALL Workmen in the Country EQUALLY and there should not be a different yard stick in providing the BENEFITS. There cannot be two different opinions on this count, in treating all the workmen equally without ANY DISCRIMINATION. When the Government understands the need for enhancement of Gratuity Limit where comes the different dates of implementation? We the poor Senior Citizens, after serving four decades and above (service of 40 years plus), undergo discriminations every time by belated implementation without application of mind to the real issue by the officials concerned people representatives. When government clearly understands the necessity for suitable compensation to the Workers, what is the need for disparity? Every worker has to be treated with DIGNITY EQUALITY AND FAIRNESS and the Government should set an example to this. LIKE ONE RANK ONE PENSION effected by your Government, GRATUITY NOTIFICATION AND EFFECTIVE DATE SHOULD also BE UNIFORM THROUGHOUT THE COUNTRY AMONG ALL WORKING CLASS.

It is observed that in the Recent Amendment to Gratuity Act, the Government of India is empowered to Notify the Quantum of Gratuity and APPOINTED DATE, through a Notification without the need for amending the Act in future and the amendment does not restrict the Governement to Notify the Effective Date uniformly to all sections of the employee. It is informed that the Central Unions were assured in various earlier meetings with the Hon’ble Minister of Labour that Gratuity Ceiling will be extended to all the workmen on par with the Central Govt. Employees.

Further during the passage of Amended Bill in Both the Houses of Parliament, there was no detailed discussions for various reasons and the views/feedback of the members could not be addressed due to paucity of time. Hence this petition to your honourable office.

It is learnt that the primary intention of this amendment to Gratuity Act was to empower the Labour Ministry to alleviate the suffering of the working class and to suitably announce enhancements in future also, without placing an Amendment before the Parliament, which takes considerable time, man power and delay. This being the reason, now it is a decision lying with Ministry of Labour and PMO to have announced the date of effect as 01/01/2016 AND NOT 29/03/2018, thus dashing the hopes and expectations of thousands of retirees, since 01/01/2016.

Hon’ble PM You may also be very well aware that, we, the Working Class are prompt in paying Income Tax and filing IT Returns as the dutiful Citizens of India and discharge our national duty in contributing to the Government coffers all along our service. Even post retirement we continue to pay tax, on the interest earned on our Hard Earned Pensions/Savings Invested in various FDs in Banks/Post Office Schemes. In fact we contribute cheap funds to Banking Industry/Government Investments to keep the wheel of economy rolling smoothly for national development.

The main agenda in bringing these amendments were to prevent delays as and when future amendments are made. If this being the reason, by giving retrospective effect from 01 01 2016 you have ensured passing on the benefit to not only the future retirees but also the retirees retired on or after 01 012016.

I am very much aware and confident that your Government understands the needs of people of all sections, especially to social causes and benefits of all. I am proud that the your Government ALWAYS HEARS the VOICE OF THE PEOPLE.

Dear Prime Minister, I am sure that I, on my behalf and on behalf of the several retirees (retired from 01/01/2016 to 28/03/2018) who are deprived of the enhanced benefits, have convinced you enough to reconsider the decision of EFFECTIVE DATE AND to RENOTIFY THE APPOINTED DATE AS 01/01/2016 UNIFORMLY FOR ALL to instil the confidence in us.

We eagerly look forward to your favourable orders in the matter and we wish you TO CONTINUE TO LEAD AND LIFT INDIA to greater heights in the world.

Any unintentional words in the content of this letter may kindly be excused/ignored.

Jai Hind.

Yours Sincerely,


Recently I raised a Petition through CHANGE.ORG addressed to the Prime Minister, Labour Minister and Finance Minister on this subject which was overwhelmingly signed and supported by the affected retiree’s fraternity across the country, sharing their agony, frustrations and sentiments. To substantiate the details of such signees, I hereby attach a PDF file along with this communication.

Thursday, April 12, 2018

Letter To UFBU

Copy of the Letter dated 09 04 2018 by the CBPRO to the Convenor of UFBU regarding Joint Struggle for Updation of Pension and Abolition of New Pension Scheme is reproduced below:

Dated: 09.04.2018

Shri Sanjeev K Bandlish
Convenor, UFBU
General Sectary, NCBE
C/o State Bank of India,

Dear Com. Bandlish,

Joint Struggle for Updation of Pension and Abolition of New Pension Scheme

It is a matter of great satisfaction for all Bank Retirees that UFBU has been championing the cause of Bank Pensioners and Retirees right from signing of Historic Pension Settlement in 1993 and subsequent improvements from time to time like removal of strike clause, 2nd Option for Pension and rectification of other anomalies.  However the following important issues have been a matter of serious concern both for the Retirees and the Serving Employees:

1. Updation of Pension as provided under Bank Employees Pension Regulation 35(1).

2. Bringing those Employees who are recruited after 01.04.2010 under existing Defined Benefit Pension Scheme by abolishing New Pension Scheme.

3. Improvement in Family Pension Scheme as prevailing in Government and RBI.

4. Reckoning Special Allowance for the purpose computing Pension.

5. Date of effect for enhanced Gratuity to be 01.01.2016 at par with Government Employees

We believe that these issues are of common concern to us and need to be given utmost priority.  It is pertinent to mention that many of the Bank Pensioners and Retirees have breathed their last without getting their legitimate benefits due to unrelenting attitude on the part of Banks and other authorities.  Some of the benefits which could have come in normal course were achieved through protracted litigation at a huge avoidable cost in terms of money and time.

We request UFBU to chalk out an action programme exclusively for resolution of the above mentioned issues at the earliest without even waiting for the impending wage settlement.  We as Retirees pledge our whole-hearted support and involvement in all your action programmes in this regard.

Incidentally we understand that United Forum of Reserve Bank Officers and Employees has issued a circular regarding pending demands pertaining to Superannuation Benefits after Government rejected the proposal of RBI Governor for updation of Pension.  Amongst other things RBI Officers and Employees propose to observe two days strike in the month of May if their demands pertaining to Superannuation Benefits are not resolved amicably.  If it is considered appropriate, there may be a synchronised struggle by UBFU, United Forum of RBI Officers and Employees and the Bank Retirees Organisations in regard to Superannuation Benefits.

We shall be looking for a positive response from you in this regard.

Thanking you,

Yours comradely,
 A.Ramesh Babu                K.V.Acharya
                    Joint Conveners

Wednesday, April 11, 2018

Great Achievement For Retired Bankers

A.Ramesh Babu                              K.V.Acharya
Joint Convener                                                                                      Joint Convener,
Flat No 1103, Block 3B,                                                                          J-208 Vijay Rattan Vihar,
S.M.R. Vinay Fountainhead,                                                              Sector 15, Part II,
Culvary Temple Road,                                                                          Gurugram 122001
Hyderabad 500 049                                                                       E-mail:
E-mail:                                                    Mobile:09868220338                  
Mobile: 09849381995                                                                    _______________________________
Circular No. 008/2018                                                                          Dated: 07.04.2018
All General Secretaries,
Constituents of CBPRO,
Dear Comrades,
 Supreme Court Judgment dated 13.2.2018 regarding Re-fixation of Basic Pension and Payment of Arrears for those retired between1.4.1998 and 31.10.2002 
We wish to invite attention of our Comrades and Constituents to the following communications of CBPRO on the above subject:
1.    CBPRO Circular No. 005/2018 dated 14.02.2018 advising about the favourable judgement dated 13.02.2018 pronounced by Hon'ble Justice Mr Arun Mishra and Hon'ble Justice Mr Amitava Roy of Supreme Court.
2.    CBPRO Circular No. 006/2018 dated 07.03.2018 giving a detailed account of the judgment dated 13.02.2018 pronounced by Hon'ble Supreme Court of India.
3.    CBPRO letter dated 07.03.2018 addressed to Shri V G Kannan, Chief Executive IBA requesting IBA to issue suitable instructions to all the Member Banks for payment of Arrears along with interest @ 9% within the time specified in the order of Hon'ble Supreme Court.
4.    Our Email dated 29.03.2018 (1.33 p.m.) to all the Constituents of CBPRO advising that IBA will be sending communication to Banks to implement the judgment of Hon'ble Supreme Court in regard to re-fixation of Basic Pension for those who retired between 01.04.1998 and 31.10.2002.
We have been regularly following up the issue of implementation of the order of Hon'ble Supreme court with the officials of IBA so as to expedite release of arrears with interest at the earliest.  

We have a sense of satisfaction that our sincere and persistent efforts yielded favourable results and IBA issued instructions to the Chief Executives of Member Banks (State Bank of India, Public Sector Banks and Private Sector Banks) which were parties to 7thBi-partite Settlement advising them to take necessary action for implementing the judgment of Hon'ble Supreme Court in this regard by paying the differential arrears with 9% interest within four months from the date of Judgment i.e. 13.02.2018.

In this connection we wish to reiterate that the beneficiaries of the order of the Hon'ble Supreme Court and the instructions of IBA will be to those Pensioners who retired between 01.04.1998 and 31.10.2002 and drew Pension(and not from 01.04.1998 to 02.06.2005) and the arrears with interest will be payable to them / their legal heirs on or before the specified date i.e. 13.06.2018.  We also wish to clarify that the arrears will be calculated from 01.04.1998 or the actual date of retirement of the members upto 30.04.2005 and shall be payable with interest @ 9% p.a. since the Basic Pension was re-fixed w.e.f. 01.05.2005 after 8th Bi-partite and anomaly stood removed. 

We are happy that IBA has been accepting our request to not to restrict the benefit to the petitioners alone and extend the same to all similarly placed Pensioners/Retirees.  After extending the benefit of addition of notional service upto five years in case of those who joined the Banks with special qualification/experience with relaxation of upper age limit like Specialist Officers and extension of 2nd option of Pension to the Compulsorily Retired Members, this is the hat-trick of extension of benefit to all similarly placed officers that Court order has been implemented to benefit all those who retired during the relevant period.  

We profusely thank the Management Committee and the Officials of IBA for accepting our long pending demand in this regard. We fondly hope that IBA will be considering our just and fair demand in respect of 2ndoption of Pension to those who resigned after completing pensionable years of service in the Banks.  

We also thank and congratulate Bank of Baroda Retired Officers Association and RBONC, AIRBEA and Com. K S Rengarajan, President ARISE - affiliate of AIBPARC and other individual petitioners who made sustained efforts and exhibited endurance to take the issue to logical conclusion through the judicial process. 

It is a matter of great satisfaction that a large number of more than 100,000 comrades shall be benefited by extension of the order of Hon'ble Supreme Court mainly on account of Special VRS 2000 Retirees.  We hope that the benefited members shall get fairly a good amount of arrears with interest.  The amount so received would actually be less significant if we factor the opportunity cost lost by them.  However this is a sweet success and one more mile stone achieved by the Retirees and their Organisations. 

We will continue our crusade to ensure full justice to the cause of Retirees by pursuing the other pending demands like Updation of Pension, Improvement in Family Pension, Rationalisation of Medical Insurance Scheme at par with serving employees, 2nd option of Pension to Resignees, Reckoning of Special Allowance for computation of Pension, Gratuity etc.
 With regards,
 Yours Comradely,
A.Ramesh Babu                    K.V.Acharya
Joint Conveners

It shall be appropriate if associations demand the implementation of Bank (Employees') Pension (Amendment) Regulations, 1998 which is in force.

The sole objective of it was granting an option afresh to those who could not opt for pension when the proviso for forfeiture of past service for participation in strike was present in regulation 22 (4) (b).   

The amendment was carried out to the regulation as per letter F No.4/8/4/95-IR dated 24.12.1997 to IBA directing it to advise all member banks to delete the clause and to give effect to it.

Banks however disregarded the directive of the government and did not give  the option that was mandatory in the wake of the amendment.

So long as any amendment to regulations that are inconsistent with the Pension Scheme or which prejudice what is earlier done under a regulation is impermissible in terms of section 19.1. and 19.4 of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970, organisations can demand that the options taken under the Joint Note/Settlement be deemed as options for the purpose of the regulations.  This can solve the entire gamut of issues and employees will be entitled to refund of the unlawful contributions of 2.8 times pay and 56 percent of CPF  and pension from date of retirement to 26.11.2009.

The order dated 13.02.2018 of the Supreme Court is also to the rescue of employees.

Act appropriately and watch the outcome

Thanks and Regards

Former Director (GOI Nominee) e-SBT and Ex-Manager, Union Bank of India
"Nandanam" Kesari Junction, N Paravur, Kerala - 683 513


Monday, April 9, 2018

Humble Appeal To Indian Citizens

Opposition parties are bent upon disturbing  peace of the country and especially in states where elections are due in near future. They are trying to malign BJP led NDA government  by hook or by crook. They are ready to divide society on caste and communal line to enhance domain of their vote bank at the cost  of loss of lives and properties. They are  really intolerant of Modi and BJP.  There are also few followers of ruling party who are behaving like extremists and engaged in creating divisions in society.

Some people are ready to sacrifice even pride of the country to fulfill their vested interest. It indicates the dangers looming large on peace of the country. Love and mutual respect among people of different caste and communities is at stake. Indian culture of pluralism and that of humanity has been jeopardised by clever and selfish politicians. 

Concept of Parliamentary Democracy is in danger. Media men are adding fuel to fire. Social Sites are being used by anti-national forces to inject hatredness and poison in minds of innocent common men.

It is the time for people of India to apply their wisdom and take their wise decision and thwart  the efforts of anti national forces.

Let us join together to keep our country peaceful. Let us not be swayed away by misinformation campaign launched and  spread by politically ambitious  persons or by anti- nationsl agencies.

Let us take oath to verify  all information before forwarding them to friends and relatives.

If you or anyone dislike Modi or BJP or NDA  you may remove  the party from power by casting votes in favour of parties you like in forthcoming election. Our constitution allows a duly elected government  to rule this country for five  years. Present government has already completed four years. Let us wait for one more year.

Those who hate BJP should plan to defeat Modi in next election instead of disturbing peace and tranquillity of the country and that of disturbing  communal harmony. 

Love and mutual respect is the backbone of development  of a country as well as prosperity of all individuals. Violence and arsoning reduces production activities and creates more unemployment.

Leaders may come to power or may be removed from power by votes. But survival of common men and pride of the country depends on those leaders who are honest in speech , in action and in making of laws and execution of laws.

It is the duty of specially educated class to help the society live in peace and happiness .They should at least refrain ftom spreading hatredness and violence and if possible try to stop others who are indulged in anti_ social activities.

Leaders and parties are elected for five years . But we have to remain and survive for decades. We cannot afford to quarrel  with each other. Mental and social peace only can help us in growing whereas hatredness for others depletes our energy to preform. 

Please do not send negative vibration and negative energy because it harms more to ourselves  than to others.  We invite persons, things and situation of the quality which we think speak or act in real life.

Message received on Facebook in response to above is submitted below.

वह देशद्रोही होगा जो कभी भी देश की सम्पति को नुकसान करेगा क्योंकि ये हम लोगों की खून पसीने की कमाई होती है नाकि पॉलिटिशियन की खून पसीने की कमाई। देश हित हमारा हित तभी तो हम सभ्य कहलाने के अधिकारी होंगें।
देश की सम्पति का विनाश हमारा खुद का विनाश।

क्या किशी ने अपने घर मे किशी भी कारण से अपनी गाड़ी को नुकशान पहुचाया।

उसका तो हम बीमा करवा कर safe होते हैं हर साल क्यों। बताइये।चाहे उसको कुछ भी ना होना हो।

एक बार कोई भी वस्तु जो खत्म कर दी जाती है उसका नुकसान हमें दो रूप में भुगतना पड़ता है।

1।एक तो उस चीज की कमी जैसे बसों की कमी से भीड़ भी शीट भी नही मिलती किराया भी देना पड़ता।

2।दुबारा जब वह खरीदी जाएगी वह किसकी कमाई से निकाली जाईगी । हमारी से। महंगाई हम पर पड़ेगी।

देश हित मे इस को तब तक facebook व्हाटसएप्प पर तब तक जारी रखो जब तक कि सब की समझ मे ये ना आ जाये कि ये तो हम अपना नुकशान अपने पैरों पर स्वयं कुल्हाड़ी मार रहे हैं।

आपको केवल एक काम करना है कृपया इसको जितना ज्यादा कॉपी करके अपने अपने तरीके से facebook व्हाट्सएप व मेसेंजर पर अभी अभी व आगे भी तब तक जारी रखो जब तक कि सबकी समझ मे आ जाये।

 धनयवाद आपकी सहभागिता की जरूरत समझता हूं।

Another excellent  message received in WhatsApp group is as follows.

- हिंदुओं को लग रहा है कि आने वाले कुछ वर्षों में भारत मुस्लिम राष्ट्र बन जाएगा और भारत में औरंगजेब शासन आ जाएगा।
- मुस्लिमों को लग रहा है कि RSS कुछ ही दिनों में ISIS जैसा खूंखार संगठन बन जाएगा और आतंकवाद का रंग भगवा हो जाएगा।

- दलितों को लग रहा कि जल्द ही नई संविधान सभा गठित होने वाली है जिसमें मनुस्मृति के नियमों को लागू किया जाना है और उनके विकास में रिवर्स गियर लग जाएगा जो उन्हें सीधे उत्तर वैदिक काल में ले जाएगा।

- सवर्ण को लग रहा है कि आरक्षण की वजह से उसकी युवा पीढ़ी बेरोजगार और बेचारी होती जा रही है।

ये सभी कल्पनाएँ कहाँ से उपजीं?
 क्या वास्तव में हमारे आसपास ऐसे हालात पनप रहें हैं या कुछ और??

अगर हम ईमानदारी से विश्लेषण करें तो पाएंगे कि असल में ये सारी अवधारणाएं वाट्सऐप और फेसबुक पर अंधाधुंध फैलाए जा रहे उन्मादी कापी पेस्ट का नतीजा हैं।

ये कापी पेस्ट लंबे लंबे मैसेज,भड़काऊ फोटो और तमाम वीडियो की शक्ल में बहुतायत से प्रचलित हैं।

अगर हम सोशल मीडिया की छद्म दुनिया से निकलकर अपने आसपास लोगों को देखें तो यकीनन एक सौहार्दपूर्ण भारत नज़र आएगा.. लेकिन अगर हम अभी भी नहीं चेते और इन्हीं वाहियात फारवर्डेड मैसेजों के आधार पर दूसरों के लिए अपनी अवधारणाएं बनाते रहे तो यह भी संभावना है कि पास में खड़ा आदमी अचानक हमला कर बैठे।

ये सब राजनैतिक प्रयोजन हैं इनमें उलझने से हमारी जानें जाएंगी, हमारे घर जलेंगे यहां तक कि पुलिस भी हमें ही धुनेगी..... सत्ता की पंजीरी वे लूटेंगे जिन्होंने मैसेजों की बमबारी के लिए आईटी कम्पनियां नियुक्त की हैं....

इसलिए.... सावधान रहिये ... नफरत फैलाने वाली कोई भी पोस्ट शेयर न करें। हम अभी भी अजनबियों को चाचा ताऊ भैया दद्दा कहने वाली संस्कृति के वाहक हैं। हममें से कोई नहीं है जो जाति पूछकर  संबोधन करता हो। सोशल मीडिया से फैलती आग में जलने और समाज को जलाने से बचें और जातिगत व धार्मिक नफरत फैलाने वाले ग्रुपों को एक्जिट करें फिर देखिए हमारा परिवेश कितना सौहार्दपूर्ण होगा।

जय हिन्द

Fate Of Foreign Branches of Indian Banks

SBI has the largest number of overseas branches (52) followed by Bank of Baroda(50) and Bank of India (29). The state-owned banks have the largest number of branches in the United Kingdom (32) followed by Hong Kong, UAE (13 each) and Singapore (12).

It should be investigated by RBI, Govenment of India and CBI to know why and at whose instance CMDs of some banks chose to open their bank's branch at foreign centers like Belgium to enable Nirav Modi and Mehar Choksi in misusing  borrowings availed from Indian Banks with fake LOU.

Who are those  guilty bankers and politicians of UPA government who facilitated fraudsters cheating Indian banks?

Answer to these will give clue to not only modus operandi of frauds taking place  but also expose the  men behind the show.  Arresting a few junior officers in such a high value fraud is demotivator for rank and file who are sincere and honest performers. Any common men can guess the pathetic position of junior staff when his or her senior like CMD takes interest in any case of lending or any kind of  banks credit

It is a well established culture in banks where branches are opened at a location to please ministers or to please corporate houses who distribute gifts in cash or in kind to officials for getting their favour.

One of ŕeader has rightly commented that "Most of the foreign branches /offices are loss making and manned by selected, '' Super efficient '' branded officers of the banks and perform very well in hosting Bosses from respective corporate office with great '' CARE''

It is reported in newspapers that State-run banks have initiated consolidation of their foreign businesses, starting with 35 operations in the first round, which could result in closing down of many overseas branches and offices.

It is reported that Public sectors banks (PSBs) will consolidate 35 overseas operations without affecting international presence of PSBs in foreign centres.

These operations include bank branches, joint ventures, subsidiaries, remittance centres, and representative offices, a senior finance ministry official said. Another 69 operations have been identified for further review and eventually all 216 operations will be examined.

There is no doubt that government has now become active to stop further erosion and loss in credibility of Indian banks and occurrence of losses. But real reformation and transformation will take place only when all guilty officers and mischievous minded politicians are taken to task.

Tuesday, April 3, 2018

Banking Related News In Brief

Public sector banks wrote off Rs 2.41 lakh crore worth of loans between April 2014 and Sep 2017, the Rajya Sabha was informed today. Writing-off NPAs is a regular exercise conducted by banks to clean up their balance sheet, and achieving taxation efficiency, Minister of State of Finance Shiv Pratap Shukla said in a written reply.

Apportioning blame to the RBI over the PNB loan fraud , Central Vigilance Commissioner K V Chowdary today said there had been "no apparent audit" by the central bank during the period of the scam. He stressed the need to put into place a more robust  auditing  system. "They did not do this (an audit)," the head of the CVC told.
-Economic Times

The MS Sahoo-led  Insolvency  and  Bankruptcy panel has recommended changes to the insolvency resolution framework in its report which was released by the ministry of corporate affairs today. The panel has recommended changes to the insolvency resolution framework to make it flexible for Resolution Professionals to raise interim finance. The panel's recommendations on interim finance states that interest should be calculated till one year after the liquidation date or repayment whichever is earlier. The panel also said that time bound approval from regulatory bodies should be put in place after the approval from NCLT in case of successful bids. For the CCI approval, specific guidelines should be put in place.
-Economic Times

The Government has asked PNB and probe agencies to share details of the ₹13,000 crore scam with chartered accountants’ apex body ICAI, which is looking into the systemic issues related to the fraud, an official said. A high-level group constituted by the Institute of Chartered Accountants of India (ICAI) is studying specifically the systemic issues involved in PNB fraud and would also suggest remedial measures
-Business Line

Facing allegations of wrongdoing in the loan extended to Videocon Group, ICICI Bank MD and CEO Chanda Kochhar has pulled out of the annual session of FICCI Ladies Organisation (FLO) to be held this week, where she was to be felicitated by President Ram Nath Kovind, according to the organiser. Kochhar was to be the Guest of Honour at the April 5 event and flyers sent out last month mentioned her name prominently.
-Business Line

Yes Bank is aiming to evolve itself into a “technology co in the business of banking” and has accordingly announced a rejig of its senior management. It has inducted Raj Ahuja, who comes with an experience in fintech, telecom and technology sectors, as chief financial officer and also realigned the job profile of the current CFO Rajat Monga wherein he will also head the digital banking and technology functions.
-Business Line

IndusInd Bank today announced a pilot program with WhatsApp enterprise solution in India to communicate with its customers. The integration with WhatsApp will allow IndusInd Bank to start appearing as a verified account when it communicates with its customers. The initial test phase will allow the bank to communicate important transaction alerts to the customers on WhatsApp.
-Deccan Chronicle

The Income Tax  Dept has sent a notice to NuPower Renewables  under Section 131 of IT Act seeking details of assets, income and tax paid. ICICI Bank CEO  Chanda Kochhar's husband Deepak Kochhar is the founder & CEO of NuPower Renewables.
-Economic Times

Nirav Modi's close confidante and qualified charted accountant Shyam Wadhwa has admitted that he assisted Nirav Modi in forming shell companies to launder money. A source in the Enforcement Directorate confirmed to India Today that Wadhwa, who was arrested last week, has confessed that he helped Nirav Modi, who's the main accused in the Rs 13,700-crore PNB fraud, by creating shell companies to reroute money back to India
-Business Today

SBI Life Insurance has appointed Sanjeev Nautiyal as its new MD and CEO. He replaces Arijit Basu.
-Business Line

The UIDAI launched its Virtual-ID (VID) facility for Aadhaar cards. The new facility was planned by the UIDAI to provide a secure way of protecting people’s Aadhaar numbers.

The UIDAI said it does not have "any separate social media profiles for mAadhaar. Any namesake Twitter handle/Facebook page etc. is fake..." The UIDAI, which currently offers mobile app mAadhaar for Android-based smartphones, said it "does not take responsibility" of any information posted by such fake social media profiles.
-NDTV Profit

The RBI  dropped Axis Bank from a list of banks it has cleared to import gold and silver in the current FY  that began April 1. It was unclear why Axis did not feature in the list that was released late on Monday.
-Business Line

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