HARD COPIES SENT BY SPEED POST:
Srinivasa Murti Devulapalli <devulapallimurti@gmail.com>
14:34 (1 hour ago)
to appointment.fm, Narendramodi...
A FERVENT APPEAL FROM THE SENIOR BANK RETIREES...TO Smt.NIRMALA SITHARAMAN, HON'BLE FINANCE MINISTER, GOVERNMENT OF INDIA....
Hon'ble Madam,
Namasthe.
At the outset, I congratulate you for being our Finance Minister after your successful tenure as defense minister in the previous government - a worthy choice by our Hon'ble Prime Minister - Sri Modiji
I take pleasure to introduce myself as D. Srinivasa Murti (s/o late Devulapalli Subrahmanya Sastri ) aged about 70 years, retired as Manager (Middle Management) from Syndicate Bank - one of the premiere Banking Institutions in the Public Sector . It is the only bank that took its birth in a remote rural village way back, in 1925. I feel proud to be identified as its retired employee with about 30 years of active service since 1972 (Emp.No.127259) till my retirement in 2001 .
Respected Madam, Like me there are over 2.00 lakh senior retired bank employees/officers spread over the length and breadth of our nation who contributed their might for the economic prosperity of our country.
I regret to bring to your kind notice, that we the bank retirees have been neglected by the unions representing the working employees (United Forum of Bank Unions - "UFBU") as also the managements represented by Indian Banks Association (IBA).
We have been subjected to exploitation in the following areas:
01. WE HAVE BEEN HARD HIT BY INFLATION FOR OVER 20 YEARS:
The serving employees salaries have been revised five times ( ie. through 5 Bipartite Settlements) since 2001 . Whereas, we have been drawing the same pension as fixed in the year 2001 even today. WE ARE HARD HIT BY INFLATION. The Plight of the Family Pensioners is still worse . There has been no upward revision in our pension for over 20 years. More vividly explained in the following link:
https://drive.google.com/file/d/1nGsMG92YpQ-Q_egNW-3ChY4YNjdtlv1h/view?usp=sharing (Hard copy enclosed - Annexure: "A")
02. EMBEZZLEMENT OF FUNDS IN OUR PENSION CORPUS:
Hon'ble Madam ! ......
I wish to bring to your kind notice that ours is a FUND BASED PENSION SCHEME with the employees contribution (towards PF) from out of their salaries every month,is paid on superannuation. And where as the employer's matching contribution as forfeited by the employees towards PENSION CORPUS. The Pension Corpus funds are necessarily be invested in the approved Government Securities to make the same self-sufficient for smooth servicing of the scheme as envisaged in the Pension Regulations as approved by the Hon'ble Parliament.
With utter disregard to the above statutory provision, Embezzlement of Funds have taken place by
01. diverting the funds to Private Investments. 02. Window dressing the Balance Sheets & manipulating the accounts etc.
https://drive.google.com/file/d/1439FsFI4RcJaXvH0ExnAeTnWyuW6sZx7/view?usp=sharing (hard copy enclosed- Annexure : "B")
https://drive.google.com/file/d/1Ljq6GJacEBhJyyQxQiwrP1lfxgmByKuG/view?usp=sharing (hard copy enclosed - Annexure : "C")
".....-The Pension Fund of a Bank was invested in a private company in the form of Non-Convertible Secured Debenture - (NCD).
- The same private company was also given huge loans ( around Rs.14,000/- Crores) by that Bank and other banks. In other words, the company which was favoured with such a huge loan was also favoured with the above investment (NCD) from the Employees Pension Fund.
- This account has become NPA and is one among the 12 major accounts before the National Company Law Tribunal. Obviously, the investment in the Debenture Bond also became a dead investment and NPA .
Consequently, Bank Pension Fund, being a creditor/investor in the NCD bonds has also been advised by the authorities to file its claim with the company which is about to be/already declared insolvent.
Under the circumstances, NEITHER the banks would realise their dues NOR the Pension Fund would get back their investment in the NCD bonds - leave alone the returns part of it......"
Respected Madam ! if this way, As Trustees of the Pension Corpus, the banks and unions join their hands clandestinely to cheat their own retired employees , then what would be the fate of the Banking Public in general..? In the process, it adversely affect the confidence of the Banking public and bring disrepute to all of us.
Supposing, the same were to be indulged by any erring employee, for his/her Misconduct in a stray /isolated instance, he/she would have been sacked from the service mercilessly as per the service conditions !–Even for a paltry amount of involvement for that matter ! That being the case , Can the representatives of the unions on the respective pension trust boards plead for their “estoppels” from being guilty on par with the managements on the above logic?
HON'BLE MADAM , ONLY A THOROUGH INVESTIGATION ON THE ABOVE LINES BY AN ACCREDITED INSTITUTION LIKE "CAG" ALONE WILL BE ABLE TO BRING THE TRUTH TO THE SURFACE IN THE INTEREST OF THE INNOCENT RETIREES LIKE US, AS THE BENEFICIARIES OF THE PENSION TRUST . AUDITORS CONCERNED SHOULD ALSO BE MADE ACCOUNTABLE
https://drive.google.com/file/d/1Igip7Y2i4y4K9JdNZHiN4LlAwlelVHI_/view?usp=sharing - Andhraprabha-daily (Hard copy enclosed -Annexure : "D")
https://drive.google.com/file/d/1XF0eK0eXz2onQXS0jBE647EXuAGV2J6U/view?usp=sharing - Andhra Jyothi- daily (Hard copy enclosed - Annexure: "E")
DELAY IN ALL THE BIPARTITE SETTLEMENTS
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BP No. Dt. of Effect Dt. of Settlement Delay in days
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01. 01 01 1966 19 10 1966 291 Days
02. 01 01 1970 12 10 1970 284 Days
03. 01 09 1978 01 08 1979 334 Days
04. 01 07 1984 17 09 1984 078 Days
05. 01 11 1987 10 04 1989 526 Days
06. 01 11 1992 14 02 1995 835 Days
07. 01 11 1997 01 01 2000 791 Days
08. 01 11 2002 01 06 2005 943 Days
09. 01 11 2007 07 04 2010 908 Days
10. 01 11 2012 25 05 2015 935 Days
11. 01 11 2017 ?? ?? ?? ??
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Only the PCR Recommendations (Committee constituted by GOI), brought a sea change in the service conditions of the Bank Officers. This is besides many other committees constituted by the Governments in the past resulted to bring improvisations in the service conditions of the bank employees at large in the form of various “awards “ over a period of time.
Let us not, therefore, lose sight of these historical facts.
In view of the statements of fact as enunciated above, an earnest appeal is now being made to your Honour ! to favorably consider the following:
01. TO CONSTITUTE "BANKING PAY COMMISSION" TO ENSURE JUSTICE AND FAIR PLAY. - MUCH IN PARTICULAR TO AVERT THE UNWARRANTED AND ILLEGAL MANIPULATIONS BEING INDULGED BY THE UNIONS (UFBU) AND THE MANAGEMENTS (IBA) UNDER THE GUISE OF BIPARTITE SETTLEMENTS WITH UTTER DISREGARD TO THE PENSION REGULATIONS AS APPROVED BY THE HON'BLE PARLIAMENT AS STATED ABOVE.
AND
02. TO INITIATE AUDIT BY "CAG" - THE ONLY CONSTITUTIONAL AUTHORITY WHO ALONE CAN BRING THE TRUTH TO SURFACE AND RENDER JUSTICE TO THE JOB.
Hon'ble Madam ! Many of our colleagues have already attained their Heavenly abode and We still remain waiting for our turn to meet them
I therefore, volunteered to place before you , the grievances as detailed above, and seek Your kind intervention/help to bring us the solace.
In the light of the above..... With folded hands.....
I make this fervent appeal to you Madam to come to our rescue who are "with one foot in the grave " at this fag end of our lives. "SOS"
With Greetings and Regards
“|| यतो धर्मस्ततो जयः ||” IS THE ULTIMATE......
I remain - Yours,
దేవులపల్లి శ్రీనివాస మూర్తి /Devulapalli Srinivasa Murti.
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