A CHECK MATE TO "PASSING ON THE BUCK" ATTITUDE OF THE BANK MANAGEMENT/S
My Dear Friends,
This is in further contunuence of my following earler post link Under the caption :
"MIS APPLICATION OF PENSION CORPUS FUNDS AT THE BEHEST OF DFS/MOF/GOI" dated 23 SEP 2022
As a part of our contemplated legal action against all the above concerned in the wake of the verdict of the Hon'ble Kerala High Court as already initiated by our learned friend Com. CN Venugopalan garu, who has issued the following Notice to the management of Union Bank of India.
The exchange of correspondence between Com.CN VENUGOPALAN with the management of UBI as also with DFS/ MOF relating to the following Twin issues- viz:
01. NON PAYMENT OF UPDATED PENSION TO EMPLOYEES
&
02. PAYMENT OF UNAUTHORUSED PENSION TO WHOLE TIME DIRECTORS
WHILE CONGRATULATING COM. CN VENUGOPALAN GARU FOR HIS VALLIENT EFFIRTS, I ANNEX THE DETAILS FOR YOUR KNWOEDGE / INFORMATION.
THIS IS FOLLOWED BY THE INFORMATIVE FEEDBACK COMMENT BY OUR ANOTHER LEARNED FRIEND COM. KATARI SATYSNARAYANA OF INDIAN BANK, VIJAYAWADA.
The contents are SELF-EXPLICIT :
With the Divine blessings of Matha Kanaka Durga abode इन्द्रकीलाद्रि - विजयवाद Indrakeeladri- Vijayawada, let us hope to bring solace to the grief-stricken hearts of the bank retirees in general and the SUPER SENIORS IN PARTICULAR only in the sole interest of justice & fair play.
With Greetings & Regards,
|| यतो धर्मस्ततो जयः ||
I remain – Yours ,
దేవులపల్లి శ్రీనివాస మూర్తి
DEVULAPALLI SRINIVASA MURTI Hydearbad
Cell :9989318300,
09 11 2022
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C N VENUGOPALAN
Ex Manager Union Bank of India (Employee No.28506)
“Nandanam” Kesari Junction, North Paravur, Kerala-683 513 Mob:9447747994 E-Mail ceeyenvee@gmail.co
No.221108 08th November 2022
The Managing Director & CEO, MD's Secretariat, Union Bank of India, Central Office, Mumbai-400021
Madam,
Non-payment of Updated Pension to Employees And Payment of unauthorised Pension to Whole Time Directors.
Please refer to my letter No. 220926 dated 26th. September, 2022 on the above subject.
In response to my letter cited, you informed me as under vide your letter No. HR:EBD:13502 dated
29 10 2022:
" [i] Whole time directors of the Bank are paid pensionary benifits as per instructions received form DFS
AND
[ii] Regarding Updation of Pension, we are yet to receive any information / instruction from DFS/ IBA and the same shall be implemented once communicated to us. "
Vide my letter No. 221003 dated 03/10/2022, I drew the attention of the DFS to your statements
[i] & [ii] above and I sought their clarification /opinion on the explanation given by you for crystallization of a clear-cut decision in the matter.
The DFS vide their letter F No. 15/573/2015-IR dated 02 11 2022 has informed me that
"All Public Sector Banks [PSBs] have managerial autonomy in HR matters" As such, it is clear that the item [ii] of your reply is unfounded and tantamount to a misrepresentation of facts. For your ready reference, I enclose a copy of the letter dated 02 11 2022 addressed to me by the DFS regardless of the fact that they have sent a copy of the letter to the PIO of the Bank.
The Board of Directors of the Bank have adopted the Pension Regulations in cinsultation with the RBI and with the prior approval of the Central Government. To top it all, the DFS has made it clear that the Bank has managerial autonomy un HR matters.
Since the DFS has not circumscribed the scope of the managerial autonomy guven to banks un HR matters, you cannot take plea that the managerial autonomy in HR matters does not extend to Pension Updation.
Considering the foregoing, I request you to update my pension in terms of Regulation 35(1) of the Pension Regulations in sympathy with each wage settlement after my retirement and pay me the arrears within 30 days of receipt of this letter.
Thankung you,
Yours faithfully,
CN Venugopalan
(Click the following link for full details of the above correspondence exchanged with UBI Management & DFS/MOF GOI.) :
https://drive.google.com/file/d/1FX8fSwCZBgxTQrjqOtZ-pMo_ZRvr0thX/view?usp=sharing
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BEFITTING FEEDBACK COMMENT
[08/11, 20:13]
Ind. Bk. VJA.
కటారి సత్యనారాయణ:
Excellent.
Now that the clarity on the mandate held by Nationalised Banks under the provisions of Section 19(1) of the Act 5 of 1970/1980 is reaffirmed by the GOI itself in no unequivocal terms, it's time for the Board of UBI to revisit its undertaking under the clauses 6 & 12 of the Pension Settlement entered into by itself with the AIBEA on 29 10 1993 under ID Act and implement the formula of Updation as could be devised for RBI , approved by the GOI and communicated through its order dated 05 03 2019 and being implemented prospectively w.e.f.01 03 2019 by the said RBI.
As such a duty is cast upon the Board of UBI to adopt the said formula for updation as approved in respect of RBI through its resolution in honour of its legally binding earlier obligation under the said Pension Settlement and forward it to RBI for its due consent under further advise to the GOI with a request for obtaining of prior permission of the said GOI in this regard.
The GOI is already mandated under said Section 19(1)to accord sanction to the Board on any Scheme of Pension or Amendment to Regulations proposed in consultation with RBI as and when such scheme or amendment proposed is not inconsistent either with the provisions of the Act or its Subordinate Legislation, the Pension Regulations notified on 29 09 1995.
Of course , the RBI is well versed of its constitutional obligation to apply its mind on such a proposal whenever received from the said Board of UBI as it was very much aware of the binding nature of the terms of the Pension Settlement dt 29 10 1993 that formed the Objective and also the Reason for bringing out the said Pension Regulations under the Subordinate Legislation as notified on 29 09 1995for which it had accorded it's due consent prior to such notification dt29 09 1995.
Let's expect the Board of UBI act diligently within the expiry of 30 days of this notice.
TAT SAT.
Katari Satyanarayana
Indian Bank Retiree
Vijayawada AP
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