PENSION REVISION..
LET THE DESPAIR BE DISPELLED
My Dear Friends
Of late I have come across the following misinterpretations being spread on various public media as follows:
PENSION REVISION IN RBI VIS-A-VIS RELEVANCE OF 1.63 MULTIPLYING LOAD FACTOR:
You are aware that The Pension Updation was RESTORED IN RBI during 2019 by merging the DA @ 4440 Points into the Basic pension applying the RELEVANT multiplying factors
as per RBI notification ( COPY OF RBI COMMUNICATION ON REVISION OF PENSION TO RBI RETIREES REF:No.CO:HRMD:No.G.84/18491/21.01.00/2018-19 DATED MARCH 08, 2019)
detailed out in my following link :
During the recently concluded 11th. BPS, for the working employees, their BASIC PAY WAS REVISED BY MERGING 6352 POINTS OF THE DA INTO BASIC PAY.
THUS THE DIFFERENCE IN THE MULTIPLYING LOAD FACTOR BETWEEN THE LATEST 6352 POINTS & 4400 POINTS (AS ON 2019) WORKS OUT TO BE 1.63.
ACCORDINGLY RBI RETIREES BASIC PENSION HAS ALSO BEEN FURTHER REVISED BY APPLYING THE DIFFERENCE IN THE LOAD/MULTIPLYING FACTOR OF 1.63 TO ENSURE THE DA MERGER AT 6352 POINTS AS ENVISAGED IN THE LATEST 11th. BPS.
AS ENVISAGED ABOVE, WE ALSO HAVE BEEN DEMANDING THE SAME REVISION IN BASIC PENSION COMENSURATING WITH DA MERGER AT 6352 BY APPLYING THE FOLLOWING MULTIPLYING LOAD FACTORS:
✴️QUOTE✴️
During the 11th. BPS, DA was merged into the basic at 6352 points which worked out @1.63 load factor over & above the previous one as stated below:
To arrive at the revised Basic Pension as per RBI formula moving from stage to stage or from one bipartite to the other the multplying factors with 10% notional increase in basic pension are:
5th BPS- 19.90
6th BPS- 9.43
7TH BPS- 5.83
8TH BPS - 3.91
9TH BPS- 2.85
10TH BPS- 1.63
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NOW, LET US TAKE AN EXAMPLE FOR A BASIC PENSION OF ₹75OO, IN THE 7TH BPS THE REVISED BASIC PAY WOULD BE AS UNDER
( ASSUMING THE PRESENT UNIFORM DA - CURRENT RATE APROX. @ 41.16% IS WORKED OUT )
7500×5.83 ₹43725
+DR@41.16% ₹17997
Gross ₹61722
Compiled by:
Com.Metlapalli S Sarma Synd. Bk. Retiree(SVRS 2001) Gudiwada (AP) WA# 98485 87298
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✴️UNQUOTE✴️
TO BRING THE PARITY OF DA MERGER @ 6352 POINTAMONG THE ALL, AS A FIRST STEP, RBI RETIREES WERE GIVEN THE DIFFERENCE @ 1.63 AS STATED SUPRA.
THE NEXT STEP WILL BE TO ACCORD THE SAME TO ALL THE RETIREES IN PSBs ON THE VERY SIMILAR LINES BY APPLYING THE MULTIPLYING LOAD FACTORS IN ADDITION TO THE NOTIONAL 100% DA RAISE FOR THE PRE-2002 RETIREES AS DETAILED OUT ABOVE
IT IS IN THIS CONTEXT ALONE...
01. IBA HAD SUBMITTED ITS REPORT AS ORDERED IN THE MOTION HEARING BY THE HON'BLE SUPREME COURT ON 20 01 2022 CONSEQUENT UPON OUR TAKING UP THE MATTER DIRECTLY WITH SRI NV RAMANA GARU, THE THEN CJI DURING HIS LORDSHIP'S VISIT TO VIJAYAWADA ON 25 12 2021 WHO WAS KIND ENOUGH TO PRE-PONE THE CASE TO 20 01 2022 EVEN BY SUBSTITUTING THE COVID AFFECTED JUDGE OF THE BENCH. I ONCE AGAIN EXPRESS MY IMMENSE THANKS TO SRI N V RAMANA GARU FOR HIS EMPATHY TOWARDS US. For Full details, click the following link:
https://docs.google.com/document/d/1dpF_thckBa8TQbAxC7bW2lWP_4BzHbe49JuOvYG5GdM/edit?usp=drivesdk
Also sent by Courier (DTDC/H33155126 dated 13 08 2022) at the following address: OFFICIAL RESIDENCE AT DELHI @ No. 5, Krishna Menon Marg, Bagh Road Area,NEW DELHI 110011
Followed BY THE HAND DELIVERY IN PERSON BY ME At PONNAVARAM ( Native Village near Vijayawada on 20 08 2022)
02. Further, in a sumultaneous move, GOI/DFS/MOF has also constitututed a committee as directed bythe Hon’ble Delhi High Court in WP: W.P.(C).9679/ 2016, SBI Vs Group Of Pensioners, on 13.4.2023
Please go through content in the following Link for FULL DETAILS:
&
ALSO LISTEN MY FOLLOWING AUDIO LINK(TM Rengarajan (Chennai) And DS Murti 24 06 2023)
https://drive.google.com/file/d/1yIYOF86tVo8XZlcgW5vdjdFkTsMiURh_/view?usp=drivesdk
THE ABOVE BEING THE FACTUAL POSITION, I HUMBLY CALL UPON MY FRIENDS TO DISPELL THE DESPAIR BEING SPREAD IN THE SOCIAL MEDIA.
✴️QUOTE✴️
Dear All
After one month waiting, Today at 6.30 pm, I met R.S.S. Chief Sri Monan Bhagwat at Nagpur.
I raised the issue of Pension updation and submitted a precise note on the matter.
He gave a very patient hearing and acknowledged the plight of the bank pensioners.
A copy of our Memorandum has also been submitted.
In his words ," This should have been settled quite earlier."
He however assured that he will take up the matter of Pension updation at the "appropriate level" and assured us relief as early as possible.
This is an assurance from the 'power center' in India today.
I m convinced the matter will now get proper momentum.
Photography is prohibited in the entire RSS H.Q.
S.B.Butolia, President,
Eastern Maharashtra Bank Retirees Association Mumbai
28/06/23
✴️UNQUOTE✴️
DEEDS ALONE SPEAK LOUDER THAN VOICE...
LISTEN TO THE FOLLOWING AUDIO LINK FOR THE TRUE SCENARIO OF THE UNTOLD EIPISODE BEHIND THE CURTAIN.
https://drive.google.com/file/d/1_uGwRS1Iwejaa6ruwV4pyyaYaiyzpa8M/view?usp=drivesdk
Useless UFBU has never been in the picture . On the contrary, they created hurdels in our endeavors only to delay the entire process.. SHAME...SHAME....SHAME BUT FOR THAT BRIEF LULL....FOR US, BETTER DAYS ARE AHEAD...
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.
ᴡɪᴛʜ ɢʀᴇᴇᴛɪɴɢꜱ & ʀᴇɢᴀʀᴅꜱ,
||यतो धर्मस्ततो जयः||
దేవులపల్లి శ్రీనివాస మూర్తి
Hyderabad :: 29 06 2023