PENSION UPDATION (RBI PATTERN) IS ALREADY A SETTLED ISSUE LONG AGO & HARDLY NEEDS ANY FRESH NEGOTIATIONS WITH UFBU

MY DEAR FRIENDS,

AS PER IBA's CIRCULAR COMMUICATION VIDE Ref.No. PD/CIR/76/G(ii)/1905 March 31,1994 ADDRESSED TO ALL IT'S MEMBER BANKS, IT'S ALREADY AGREED UPON MUTUALLY BY UNIONS & IBA FOR RBI PATTERN OF PENSION UPDATION.

WE SHOULD THEREFORE, DEMAND FOR THE IMPLEMENTATION OF PENSION UPDATION FOR ALL UNDER RBI PATTERN AS ALREADY AGREED UPON & IN TERMS OF THE EXISTING AMMENDED PENSION REGULATION 35(1)

THE SAID AMENDEMENT TO PR # 35(1) WAS PASSED IN THE PARLIAMENT ONLY AFTER IT'S CLEARENCE BY THE LAW MINISTRY.

 (Com. CH Venkatachalam, himself, as The then Genl. Secretary of Tamilnadu Bank Employees Federation confirmed the facts under his own signature when Pension Scheme was introduced in the year 1995)

 https://drive.google.com/file/d/10zkOPPWNalsqCMIXq9R8ixuschnL2Deg/view?usp=drivesdk

                      AND

https://drive.google.com/file/d/1rdn3dxE7LOGKpT3lO9b8OvAYoM3jT6We/view?usp=drivesdk

WE ARE GREATELY INDEBTED TO LATE COM.MC. SINGLA GARU WHO OBTAINED THE ABOVE DOCUMENTARY EVIDENCES UNDER RTI

 ✴️BACKDROP ✴️

You are quite aware that, for the first time in the Banking Industry, Pension Scheme for the employees of the Reserve Bank of India, was introduced in year1990 with the initiative of the Government and the same was intended to be introduced in all the Banks in the Public Sector.

WITH THIS INTENTIONALONE, A "DRAFT COPY OF THE PENSIONS CHEME" WAS SENT TO THE CMDs OF ALL THE PSBS TO EXPEDIE THE SAME WITH THE PRIOR CONSENT OF THE BOARDS OF THE BANKS FOR ITS INTRODUCTION , BESIDES TAKING THE CONSENT OF ALL THE UNIONS UNDER THE ID ACT.

THUS, WITH THE PRIOR CONSENT OF THE RESPECTIVE BOARDS OF THE PSBs "MOUs"(As already adopted in the respective Boards of the Banks) WERE SIGNED BETWEEN THE BANK MANAGEMENTS OF THE UNIONS REPRESENTING BOTH THE WORKMEN AND OFFICER - EMPLOYEES IN THE YEAR 1995 - EFFECTIVE FROM 1993 .

( However, From 1993, the effective date was further stretched back to 1986 while signing the settlement under the ID Act. for certain specific reason - at the insistence of the Unions)

All the above mandated statutory formalities , had ultimately paved A CLEAR WAY to sign the settlement in 1995 under the ID Act. Ultimately– BUT. ...BY DELIBERATELY OMITTING THE PENSION UPDATION CLAUSE       ( that was very much present in the signed MOU which is the genesis of this settlement)

IN VIEW OF THE IBA's CIRCULAR COMMUICATION VIDE Ref.No. PD/CIR/76/G(ii)/1905 March 31 1994, IT IS AN INDISPUTABLE FACT THAT THE MOU SIGNED IN THE YEAR 1993 IS CERTAINLY , A SOURCE OF STRENGTH TO THE PENSION REGULATIONS SIGNED SUBSEQUENTLY UNDER THE ID ACT IN THE YEAR 1995

IN VIEW OF THE ABOVE FACTS, ABSOLUTLY THERE IS NO NECESSITY FOR ANY FURTHER FRESH AGREMENT/ SETTLEMENT BETWEEN IBA & UNIONS SO LONG AS THE PENSION UPDATION IS IMPLEMENTED STRICTLY AS PER RBI NORMS WITOUT ANY DEVIATION AS ALREADY EXPLICITLY MADE CLEAR BETWEEN THE IBA & THE UNIONS.

With Greetings & Regards,

|| यतो धर्मस्ततो जयः ||

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