========================================== ACKNOWLEDGEMENTS
At the outset, I thankfully acknowledge and congratulate you all for the massive support extended for the cause of the retiree fraternity in our crusade for justice.
Enclosed here is the link for the list of the signatories of my petition AS ON 23rd. FEBRUARY , 2021.
[23/02, 10:56 pm] Devulapalli Murti:
https://docs.google.com/spreadsheets/d/1FbBcvT4H1ovP372i4fpnevKK4V9uJQ72Vg0anVTCCYs/edit?usp=sharing
[23/02, 11:48 pm] Devulapalli Murti:
https://drive.google.com/file/d/1x0e59nlSO_H0YvjKfuueAnxM1Av0cgsf/view?usp=sharing
D S MURTI
==========================================
Srinivasa Murti Devulapalli <devulapallimurti@gmail.com>
21 February 2021 at 13:06
To: All my friends on the mailing list.
MY DEAR FRIENDS,
PENSION REVISION - DEVELOPMENTS PART-II
THIS IS IN FURTHER CONTINUATION OF MY ABOVE COMMUNICATION.
WHO OWNS THE PENSION CORPUS ?
INSOFAR AS THE PENSION CORPUS IS CONCERNED, I AM OF THE CONSIDERED OPINION THAT IT IS AN EXCLUSIVE PROPERTY OF THE BENEFICIARIES OF THE TRUST WHICH IS CONSTITUTED FOR A SPECIFIC PURPOSE - VIZ. WELFARE OF THE BENEFICIARIES OF THE TRUST IN VIEW OF THE FACT THAT BOTH WORKING/ RETIRED EMPLOYEES TOGETHER WITH THE MANAGEMENTS HAD ALREADY RELINQUISHED THEIR RIGHTS IN FAVOUR OF THE TRUST TO THAT EFFECT.
BY VIRTUE OF THE NOTORIOUS "MAGNACARTA" (RECORD NOTE) SIGNED BETWEEN IBA & UFBU, CLAIMING THEMSELVES THAT THEY HAVE NO CONTRACTUAL RELATIONSHIP WITH THE RETIREES WHICH IS A BLATANT LIE INVENTED ONLY TO ESCAPE THEIR RESPONSIBILITY TOWARDS PENSIONERS. THE RELATIONSHIP BETWEEN A TRUSTEE AND BENEFICIARY DO EXIST AS A CONTRACT OF FIDELITY (UTMOST GOOD FAITH) BY VIRTUE OF RULE OF THE LAND.
THAT BEING THE CASE, BANK MANAGEMENTS ARE FORBIDDEN TO LAY THEIR HANDS ON THE CORPUS FUNDS FOR ANY "OTHER PURPOSES" (OTHER THAN FOR THE WELFARE OF THE BENEFICIARIES) BY DIVERTING THE CORPUS FOR "EXTRANEOUS CONSIDERATIONS" WHICH IS NOT PERMITTED UNDER THE RULE OF THE LAND INASMUCH AS, A CONTRACT OF FIDELITY EXISTS BETWEEN THE TRUSTEES AND BENEFICIARIES.
THEREFORE, THE SO CALLED "MAGNACARTA' (RECORD NOTE INVENTED BY THE "IBA-UFBU" DUO DESERVES TO BE THROWN INTO THE "DUST BIN".
https://www.youtube.com/watch?v=6GFnTDb4Ew8&t=88s
CLICK THE FOLLOWING LINK FOR THE DIVERSIFICATION OF PENSION CORPUS BY THE BANK MANAGEMENTS::
https://drive.google.com/file/d/1xWCQCH1BIeSvKuSBeubMgrI2g5BxdrlV/view?usp=drivesdk
PENSION REVISION - HOW RESTORED IN RBI ...? WHILE THE UFBU LEADERSHIP HAS BEEN DRAGGING THEIR FEET???
There is no unity among the constituents in UFBU itself. IBA is taking full advantage of the disunity among the constituents of UFBU.
https://drive.google.com/file/d/1iBZU30gjkl1EKtLGXavRCzhfwrlWIuVx/view?usp=sharing
UNITY AMONG THE WORKING UNIONS AND THEIR RETIREE COUNTERPARTS IN RESERVE BANK COULD SUCCESSFULLY RESTORE PENSION REVISION - HOWEVER -
THIS IS IN TOTAL CONTRAST TO THE PREVAILING DISUNITY AMONG THE CONSTITUENTS OF UFBU - FORGET ABOUT RETIREE ORGANISATIONS EVEN.
https://drive.google.com/file/d/1iBZU30gjkl1EKtLGXavRCzhfwrlWIuVx/view?usp=sharinge
THE NOTABLE POINT HERE IS.......
AS ALREADY INFORMED BY MY LEARNED FRIEND - VIZ. COM. KATARI SATYANARAYANA GARU , THE DFS VIDE THEIR OFFICE NOTE (Paras (iv) to (vi) of page#264) UNDER THE CAPTION - "PERIODIC UPDATION OF PENSION " , GOVERNMENT DECLINED THE REQUEST OF RBI FOR UPDATION ON 26th.FEBRUARY 2018 . HOWEVER, VIDE THEIR OWN COMMUNICATION DATED 5th.MARCH, 2019 HAD REVERSED THEIR EARLIER DECISION AND ACCORDED ITS SANCTION TO RBI FOR UPDATION OF PENSION WITH PROSPECTIVE EFFECT FROM 01 03 2019 WITH A FORMULA FOR ALL THE PRIOR CATEGORIES OR RETIREES BASED ON THEIR RESPECTIVE DATES OF RETIREMENT.
THIS IS ONLY BECAUSE OF THE UNITED STRUGGLE OF RBI WORKING EMPLOYEES / RETIREES BOTH ORGANISATIONALLY AND LEGALLY SIMULTANEOUSLY.
IN VIEW OF THE FOREGOING, IT IS ABUNDANTLY CLEAR THAT THE LEADERSHIP OF UFBU HAS BEEN DRAGGING THEIR FEET TOWARDS THE BURNING ISSUES OF THE RETIREE-FRATERNITY ALL ALONG...
IBA HAS NEVER BEEN SINCERE AS TO THE ACTUAL REQUIREMENT OF FUNDS TO MEET THE COST OF PENSION REVISION .
ALL ALONG, THEY HAVE BEEN MISLEADING THE GOVERNMENT WITH INCONSISTENT AND EXAGGERATED FIGURES FROM TIME TO TIME WHICH IS FAR FROM THE REALITY.
THE FACT REMAINS THAT THE DEMAND OF PENSION REVISION CAN EASILY BE MET WITHOUT ANY DIFFICULTY AS HAS ALREADY BEEN EXPLAINED IN VIVID WITH FACTS AND FIGURES MANY A TIME.
NOTWITHSTANDING THE AVAILABILITY OF FUNDS, IT IS THE PRIMARY RESPONSIBILITY OF THE BANK MANAGEMENTS TO PROVIDE THE FUNDS TO MEET THE OBLIGATIONS TOWARDS THE RETIREES /PENSIONERS FROM TIME TO TIME VIDE Sec.10(7) THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970 ACT NO. 5 OF 1970 BEFORE DECLARING DIVIDENDS & TRANSFERRING PROFITS TO THE GOVERNMENT. - UNFORTUNATELY NOBODY TO QUESTION THIS GROSS VIOLATION OF THIS STATUTORY OBLIGATION ON THE PART OF THE BANK MANAGEMENTS.
WITH THE MOUNTING PRESSURE ON ALL THE CONCERNED FROM ALL THE QUARTERS, LET US HOPE THAT ALL OUR COLLECTIVE EFFORTS WOULD ULTIMATELY CULMINATE INTO SUCCESS IN THE SOLE INTEREST OF JUSTICE AND FAIRPLAY...
“|| यतो धर्मस्ततो जयः ||”IS THE ULTIMATE......
I remain - Yours,
దేవులపల్లి శ్రీనివాసమూర్తి /Devulapalli SrinivasaMurti.
FEBRUARY 21, 2021
Ramavarappadu- Vijayawada 521108
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d s murti