MY DEAR FRIENDS,
IN FURTHER CONTINUATION TO MY ABOVE COMMUNICATION, I ANNEX HERE TODAY'S MESSAGE FROM AIBRWA UNDER THE CAPTION " WHAT IS THE PRESENT STATUS OF PENSION UPDATION ?
IS UFBU LEADERSHIP CONTEMPLATING TO RAISE A "DISPUTE" WITH IBA UNDER THE ID ACT...? & CHALLENGE THE GOVERNMENT'S STANCE FOR PENSION REVISION..??
WHY THEY ARE SO EAGER TO PLAY A NEGATIVE ROLE TOWARDS PENSIONERS' CAUSE?...
A MILLION DOLLAR QUESTION.!!
- CONTENTS ARE SELF - EXPLICIT....
I remain – Yours,
“|| यतो धर्मस्ततो जयः ||” IS THE ULTIMATE......
I remain – Yours,
దేవులపల్లి శ్రీనివాస మూర్తి
DEVULAPALLI SRINIVASA MURTI
Ramavarappadu (PO) :
VIJAYAWADA 521108
MARCH 11, 2021
9989318300
QUOTE:
=======================================
"Friends
WHAT IS THE PRESENT STATUS OF PENSION UPDATION ?
Many of our friends enquire about the present status of our Pension updation. The true status is as under-
1- Despite FINANCE Minister requests, DFS reminders,Fax of Financial deptt.IBA has not sent any recommendations to ministry till date.
2-Communist led Unions/UFBU took negative stand & conveyed IBA that it is a bilateral issue under Industrial dispute act,So GOI has no authority to issue instructions for updating Pension. Before any such recommendations, Complete data should be shared with us,& on the basis of mutual agreement same should be recommended to GOI in Phases.
3- As per our stand in "AIBRWA", we are of the opinion that it is a policy decision of GOI to revise Pension in financial Sector on RBI lines & same is also provided in our Pension settlement dated 29-10-1993 & also sub committee under standings in 1994.So,no recommendations of either IBA or UFBU are required.GOI will be fully justified in issuing orders to allow same updation, as allowed to RBI Pensioners.
Our many supporters, Activists & revered MP's of both houses of Parliament are taking up updation issue with FINANCE Minister, with their support ,we are hoping to get good news in April/May 2021.
We shall keep you informed as & when confirmed information is available to us.
With seasons greeting.
Yours faithfully
RKVerma,
vice President ÀIBRWA - DELHI,
Residence Saharanpur
11-03-2021."
UNQUOTE:
================= ACKNOWLEDGEMENT ===================
I thankfully acknowledge all our Friends & Colleagues who expressed their solidarity for our collective cause.
I append here the list of the signatories who signed my petition as on 12th. MARCH, 2021.
https://drive.google.com/file/d/1lq9PQcw6I-NoJ2VHdRp8MGOkxSxJTYP3/view?usp=sharing
I AM QUITE CONFIDENT THAT OUR COLLECTIVE VOICE WILL BE HEARD BY THE POWERS THAT BE FOR A POSITIVE OUTCOME SOON WITH THE DIVINE BLESSINGSOF MATHA KANAKA DURGA ... ABODE इन्द्रकीलाद्रि विजयवाद INDRAKEELADRI - VIJAYAWADA .
FRIENDS,
FEEDBACKS FROM OUR LEARNED FRIENDS ARE ANNEXED HERE FOR YOUR INFORMATION:
====================================
FEEDBACKS:
C JAYARAM Synd. Bk. Retiree Hyderabad
To: D S MURTI
All these days we were under the impression that our pension funds are secure, by investments in G sec.
It was shocking when the news of embezzlement , by way of diverting pension funds to camouflage NPA figure, trickled down.
At first I thought unions will lap up this information and utilise the weapon to expose even bigger shortcomings of management.
But no such thing happened. To commit such big fraud definitely there must be other co-authors.
THE ROLE OF RBI AND GOVERNMENT DIRECTORS, UNION DIRECTORS, AUDITORS NEEDS TO TO BE VERIFIES. THIS FRAUD WAS SOUGHT TO BE SWEPT UNDER THE CARPET, SINCE AS RETIREES WE LACK PHYSICAL ENERGY, FINANCIAL STRENGTH TO TAKE ON SUCH A FORMIDABLE OPPONENT.
" *QUDOS TO YOUR UNIMAGINABLE PERSEVERANCE, AND WILL POWER TO GATHER THE MATERIAL FROM DIFFERENT SOURCES AND KNOCK THE DOORS OF HIGHEST COURT* "
_*THIS IS PRECISELY THE REASON FOR FORMER CMDs TO FORM INFORMAL GROUPS, TO MEET PM /FM, TO SAVE THEIR SKIN*_ .
*THIS IF PROVED IN COURT OF LAW, PUNISHMENT OF 7 YEARS COULD BE AWARDED. ATLEAST, FROM NOW ON, THEY WILL NOT HAVE SOUND SLEEP* !
*IT IS NOT AN EXAGGERATION IF I SAY BUT FOR YOUR "BHAGHEERATHA EFFORTS", NOBODY WOULD HAVE BOTHERED.*
EVEN UNIONS ARE MUM, BECAUSE THEY MAY ALSO BE QUESTIONED.
THANKS FOR TAKING UP RETIREES CAUSE.
C JAYARAM
*07 03 2021
Dr. K S RAO. CHIEF GENERAL MANAGER (Retd)
STATE BANK OF INDIA
https://drive.google.com/file/d/1qTnJa7X8tcBQa86TjMkgIG9fjJgAxkSt/view?usp=drivesdk
Murti garu, you are hitting the manipulators where it hurts them most. You have all the blessings of the senior bank retirees and the good wishes of the junior retirees.
May the updation of pension, DA neutralisation, etc happen soon, after the issues spring out of the clutches of CMDs, bureaucrats and self-serving Ass. Office bearers.
All success to you !!!
Dr KS Rao, CGM(retd), SBI.
===============
Mohd. Habibullah, Retd. Dy. Chief. Officer
Synd. Bk.(HO Manipal)
Dear Murtiji.
You are a tested warrior bearing untired faith in simplistic and clear propagation and marketing of your thoughts, feelings and ideas in an expressive yet in a fearless manner which always as I know, portrayed you as a Man of Great Understanding.
It is the same garb on your person that prompted the Vice-president of this great country to listen to you at great length and detail.
Being a task master continue to be generous in extending your willing shoulder to cry upon by retirees counting their colour-less days and spare them hope that tomorrow will not be like any other yesterday.
Dream selling is done by many others but it's realisation is set to foundation in your hands.
Go ahead fearlessly and lead us to the boundary where the miseries of retirees end.
Adv.Habibullah M, High Court,Hyderabad(TS)
08 03 2021
====================
Dr.L S RAMAN: Gen.Mngr. (Retd.)UCOBK .Chennai
<ramanlsrdcr@gmail.com> 11 Mar 2021, 18:03
It is not a bilateral issue since pensioners are not members of serving employees unions and more so.
in respect of officers who do not come under the I D act .
IN FACT MANY BANKS HAVE TAKEN AN UNDERTAKING FROMTHE OFFICERS TO THE EFFECT THAT THEY WILL NOT BECOME MEMBERS OF ANY UNION OR ASSOCIATION . there fore unions have no role. The matter is bet ween the government as the employer and the pensioners as per pension regulations.
DR.L.S.RAMAN
============
Dr. SRINIVASA RAO . KANKIPATI.
SBI (Chief General Manager retd.) <ksrao34g@gmail.com>
11 Mar.2021 , 20:19
At least under the guise that pension revision is a bilateral issue, have our communist unions ever taken up the issue with the managements of banks?
Now when there is some hope of positive moves on pension updation, the unions are stepping in just to torpedo the matter.
Probably they will tell the pensioners, when pensions are revised due to our own efforts, that it is due to their pressure and will demand a huge cut of the arrears as donation!
=================
UMESH SHARMA - Dy.M.D - Retd. SBI. New Delhi
<umesh.sharma492@gmail.com>
11 Mar.2021, 20:41
Dear Sirs
I humbly request you to please wait for another month and stop circulating and believing such messages which are far far from truth
Actually, most such messages are emanating from those who earlier said that they have been able to convince Prime Minister and I don’t think IBA can afford to ignore PM under pressure from leftists or their affiliates working in Banking Industry
I HAVE DEFINITE INFORMATION THAT SOME GOOD PROGRESS HAS BEEN MADE BUT IT WOULD TAKE LITTILE MORE TIME.
I ONCE AGAIN REQUEST YOU ALL TO PLEASE RELAX AND DON'T WASTE YOUR ENERGIES.
If you agree, it’s good if not at least exclude me from this group
Regards
===============================
SANKARA SUBRAMANIAN Ind. Bk. Erode
<nsankara1952@gmail.com> 11 Mar.2021, :20:59
Friends
If the information is true, it can be only because of the collusion between IBA and UFBU to deny updation .
Kolkata HC had in the 100% DA case ruled that unions and Associations representing working staff cannot enter into any settlement affecting pensioners.
In USA Courts have ruled that working unions cannot negotiate pensioners issues.
Is IBA not aware of this ? It doesn’t require a super brain to understand the fact that unions of working employees and pensioners have conflict of interest and one cannot represent the other.
Let us hope that the news is not true and the Government will announce the updation without seeking anyone’s consent .
Regards
N.Sankarasubramanian
================================
N.V.KRISHNA RAO (SBI) <nvkrao@yahoo.com>
11 Mar.2021, :21:04
NAMASTHE,
WELL SAID SHRI UMESH JI .
WITH REGARDS ,
NVKRAO .
=================================
LAXMAN RAO (SBI) <pensioner.laxman@gmail.com> 11 Mar.2021, 21:01
True. The logic / reason behind the serving employees union's (award and Officers) opposition to Pension Updation, required to be probed . Something Fishy.
=========================
MGS Rao (Synd.BK.Retiree- Hyd)
11 Mar.2021, 21:58
Murthy garu, why not we address letters to the so called leaders of UFBU asking their reason for not supporting our cause.
WHY THIS KIND OF SADISTIC MENTALITY?
============================
MURUGANANTHAM K ( Synd.Bk.Retiree - Coimbatore )
muruganantham1947@gmail.com 11 Mar.2021, 19:25
Com. Murthy ,
With heavy heart, I Congratulate you for your dedicated continuous efforts knowing fully well, we are taken for a ride by ONE AND ALL.
However, we hope success will be ours with all good efforts all the comrades .
Wishing you all the best.
_MURUGA
===================================
Debasish Mukherjee
mumburhi@rediffmail.com 12 Mar 2021, 15:44 (14 hours ago)
Kolkata
It is reliably learnt that the UFBU/AIBEA raised objection on retirees updation and stated the issue being a bilateral one the GOI cannot direct updation without consulting unions.
Knowing very well that a large number of retirees are in serious financial crisis the UFBU's this objection amply proves the UFBU/AIBEA leaders have scanty feelings for the retirees distress.
This also establish how cruel and inhuman the leaders are.
It was the UFBU/AIBEA leaders who under threat compelled the IBA and Banks managements to pursue discriminatory and differential policy in denying payment of 100% D.A. nutralisation benefit to the pre Nov.2002 retirees out of the leaders sheer revenge and all other policies detrimental to the interest of the retirees and employees.
It was also the then AIBOA G.S. compelled the IBA under threat to withdraw 2 to 2.5 p.c. updation proposal during xth BPS negotiation in 2015.
Members of this blog may kindly decide if the UFBU leaders may be called betrayers who all the time backstabbed and duped the retirees.
These leaders are no better than Criminals .
In my opinion UFBU/AIBEA cannot claim updation is Bilateral issue and Govt.cannot grant updation without consulting the UFBU since pension agreement might had taken place between the AIBEA and IBA in 1993 but implemented only after final approval by the Govt. and the Govt.can well approve updation as per terms with R.B.I.
updation without consulting the UFBU.
Now it is to be seen reaction of AIBRF & CBPRO leaders.
Debasish Mukherjee ,
mumburhi@rediffmail.com
===================================
KATARI SATYANARAYANA Ind. Bk. Vijayawada
satyakatar@gmail.com Fri, 12 Mar, 09:25 (20 hours ago)
Section 19(1) of Act 5 of 1970/1980 says.
(1) The Board of Directors of a corresponding new bank may, after consultation with the Reserve Bank and with the previous sanction of the Central Government, 1[by notification in the Official Gazette], make regulations, not inconsistent with the provisions of this Act or any scheme made thereunder, to provide for all ...
" after consultation with the Reserve Bank and with the previous sanction of the Central Government, 1[by notification in the Official Gazette], make regulations,..."
Points to ponder :
1. FM had sanctioned Updation of Pension in RBI w.e.f. 01 03 2019 providing the formula therefor as communicated by the MOF to RBI on 05 03 2019.
2. FM wants to upgrade/Update/ Revise the benefits of pension in PS Banks too. And as a follow up of the policy, Updation was also sanctioned in NABARD being implemented prospectively from 01 08 2020 .
3. Hence it is for the IBA on behalf of the Board of Directors of the PS Banks to consult with RBI seeking for the similar formula and also for obtaining of their due consent /concurrence for the implementation of similar formula at least , say, w.e.f. 01 03 2021
4. After obtaining of the consent of RBI the Boards have to submit their proposal to MOF for obtaining of formal prior sanction from them .
5. Upon receipt of the proposal from the Boards, the GOI shall seek the observations and recommendations of the " Parliamentary Committee on Subordinate Legislation- Rajya Sabha and accord prior sanction to the Boards for bringing out necessary Gazette Notifications as provide for in the said Act and to simultaneously implement it before proceeding for placing of the amendments in Both the Houses of Parliament in compliance with the procedure laid down therefor under Section 19(4) of the said Act 1970/1980 .
6. In no way either the constituents of UFBU or that of the IBA have got any statutory roll of consultations to be played in determining the Scheme or the amendments to regulations. It is the prerogative business between BOARD and the RBI only .
7. Since the Formula for Updation was already determined by both RBI and MOF , duly sanctioned by said MOF , and got implemented by RBI w.e.f. 01 03 2019, it is pertinent for the FM to note the above factual position in line with and furtherance of her prior assurances made to the bank retirees in this regard and to consider sanction of similar formula for updation to PS Banks at least with prospective effect from 01 03 2021 that does not require any sort of calculations since requisite provisions for providing of the sums in Pension Fund were already laid in position with due force under Section 10(7) of the Act, and Regulations 5 and 11 of the Pension Regulations, 29 09 1995.
A simple note put forth by the Administration for calling for a proposal from the Boards through IBA on the lines cited supra for urgent consideration of the Executive in this regard is the need of the hou r.
TAT SAT
===================================
REVISION OF BANK RETIREES' PENSION - BIPARTITE SYSTEM A MOCKERY.....????
J SOMASHEKARA ,
CANARA BANK RETIREE ,
BENGALURU
During X BPS almost 40+ BPS meetings were held .
IBA had plenty of time to compile cost data of both 100% DA and updation, But on 25.05.15 along with settlement a Record Note was signed where in it is agreed by both IBA and UFBU that updation cost is high and is to be studied .
After that another 50 BPS meetings were held till 30.11.2020 .
But IBA had no time to collect cost data.IBA failed to produce any cost data for 10 years.
During these 10 years Govt sanctioned OROP to defense, Pension revision to RBI and Nabard pensioners.
No demand was made by UFBU for updation and nothing was given.
Fact is updation data can be collected from Banks within 15 days.
If officers in Banks are not capable of calculating such cost data IBA which is receiving crores of Rupees as fees to conduct negotiations can entrust the work to reputed software firms in the country .
At least after FMs clear advise to IBA we expected that IBA will move fast to resolve issue .
After that IBA met Workmen Unions and Officers unions ,
Retiree organizations claim they were able to meet IBA 3 times .
But it is evident that IBA has not revealed the following 3 major points which would have indicated that IBA is processing issue:
1. Cost of updation
2. Formula for updation
3. date of effect .
IBA has not revealed any information about the above points but simply BRAINWASHED whoever met IBA by saying positive, collecting data, cost is high (a 20 year old story) will be looked in to etc.
It is a mystery whether Banks have given blanket mandates to IBA to decide terms and conditions for updation without fixing time frame .
BPS is big mystery and mystery leads to lack of accountability, manipulation and unlimited delay.
J SOMASHEKARA
10 Mar 2021, 15:57:29
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COLLECTIVE BEGGING..??_
BEGGARS CANNOT BE CHOOSERS
ARAVIND MANGLA (PNB Retiree)
There is a famous axiom "beggars are not choosers "
For last 25 years retirees are just begging UFBU!
Retirees will have to create their nuisence value.
Under the guise of regulation 18 of pension fund trust banks are not making their full contributions of pf of the serving employees into pension funds, which is an offence under PF act.
The said regulation reads as under;
# 18. The Bank may from time to time direct the Trustees to apply any amount for the time being standing to the credit of the surplus account or any part of such amount towards a contribution payable by the Bank and such application shall not be deemed to be withdrawal or recovery by the Bank of its contribution to the Fund* .
It's time retirees organisations take proactive action
First by getting information of short contributions through RTI. Thereafter filing formal complaints with the PF commissioners.
ARAVIND MANGLA
PNB RETIREE 14 MARCH 2021
http://pnbpensioner.blogspot.com/2020/12/pension-updation-pension-fund.html
https://www.youtube.com/watch?v=6GFnTDb4Ew8
--
d s murti