My Dear Friends,
IOBRWA (CHENNAI) WRITES TO DFS/MOF ON PENSION UPDATION ISSUE
Annexed here is a mail letter dated 21 07 2023 to the DFS/MOF by the Jt. Genl. Secy. of Indian Overseas Bank Retirees Welfare Association, Chennai.
Especially I appreciate Com. Ramachandran Bhashyam for his specific mention as to the " MIS-MANAGENT OF THE PENSION CORPUS BY AND LARGE BY ALMOST ALL THE BANKS"
AT THIS JUNCTURE, I ANNEX THE FOLLOWING LINK FOR MY DETAILED & EXHAUSTIVE LETTER DATED 10 01 2020 ADDRESED TO ALL THE CONCERNED AUTHIRITIES MAKING OUT A CASE FOR "CAG AUDIT OF PENSION CORPUS IN ALL THE BANKS" ONLY TO SURFACE THE TRUTH IN THE MATTER. I SPECIFICALLY STRESSED & HIGHLIGHTED THE "CONVERSIONS" INDULGED BY PUNJAB NATIONAL BANK & ORIENTAL BANK OF COMMERCE WHICH COM. CH VENKATACHALAM ALSO BY HIMSELF CONFIRMED AND WENT ON RECORD AS THE GENERAL SECRETARY OF AIBEA DEMANDING A THIROUGH PROBE. ON MY PART, I TOO HAVE GONE ON PUBLIC DOMAIN THROUGH PRINT / ONLINE / DIGITAL PRESS MEDIA.
https://drive.google.com/file/d/1xWCQCH1BIeSvKuSBeubMgrI2g5BxdrlV/view?usp=drivesdk
Contents are SELF-EXPLICIT.
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From: Ramachandran Bashyam <rbchandhru@gmail.com>
Date: Fri, 21 Jul 2023, 10:40
Subject: Updation of our pension
To: <mosfinance.bk@nic.in>
Cc: devulapallimurti@gmail.com
Dear sir,
I am Ramachandran, Joint General Secretary for our Indian overseas Bank Retirees Welfare Association Chennai . I have already written 2 important mails to your esteemed office for which I didn't get reply at all
Any how I wish to remind once again that recently you have ordered for forming a committee consists of SBI, IBA and dignitaries of your office to.look into the matter of updation & ramifications in the Banking industry and to maintain @ PAR treatment to all Banks.
In this connection I wish kindly bring it to your kind attention that there is a great disparity in payment of pension to Bank retirees in the following 3 categories
1) RBI& NABARD- paid CPF& Gratuity& full pension ie.50%
2) SBI- CPF& Gratuity & 40% pension with lowest rate of medical insurance & free medicines every month.
3) All other Banks - Surrendering the CPF to form a Pension Fund Trust& to.pay pension from that Find only ; gratuity and pension 50%
No concession whatsoever and exorbitant premium for Medical insurance- that too IBA& UFBU to decide about payment of premiums which are to be borne by the poor Bank retirees( how they could decide about payment of premium from the pockets of retiree members?)
So the above vital points should be taken while ramifications to be done. Moreover, in the first case , there is an expenditure to the Govt since there is no Reserve Fund for RBI and the whole pension paid to them is from Budgetory allocations only. Ofcourse there is some sufficient Reserve Fund for SBI right from the period of Imperial Bank of India to the present SBI. Since SBI is capable of bearing the cost of any for updation, there is no worry .
At the same time, for other Banks, there is a book balance of more than 3.6 lakh crores in the SELF created pension Fund by the employees and the present retirees of the Bank.
This big FUND is more than enough to update pension to 4 times of the present pension until no retiree to receive the pension.Apart from that ,free medical insurance can also be done by paying the premium from the said big Pension Fund with group life insurance for pensioners & family pensioners to keep them happy throughout their life.
But , here a big question and doubt arises that whether the book balance has really physical balance too.
In a recent statement given by PMO ,it has been clarified that almost all the Banks including SBI has amortified some money from the pension Fund to write off & adjust NPA to sustain profits.
The said amortisation has the concurrence from RBI . The said amortification has to be replenished to the pension Fund and it is the commitment on the part of the all Banks including SBI and taking that amortified Funds too should be taken into into a/c & immediate solution to the updation be done on RBI norms and that too with monetary effects wef 1.3.2019 ( the date in which 1st Updation was done to RBI)
Hence we request you kindly to consider our genuine demands taking into all the above before deciding in the committee though the committee is formed without the representation of retirees who only surrendered all their hard earned CPF.
Thanking you
Yours faithfully
B.Ramachandran Joint General Secretary Indian overseas Bank Retirees Welfare Association :: Chennai
21.7.2023 ::10.40AM
An acknowledgement & reply will be appreciated please.
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AN EARNEST APPEAL HAS THEREFORE BEING MADE TO THE HON'BLE PM / FM HIGHLIGHTING THE IMPENDING URGENCY TO CONSTITUTE BANKING PAY COMMISSION SUBSTITUTING THE EXISING REDUNDENT BIPARTITE SYSTEM.
✴️SUBJECT ✴️: "PERPETRATED FRAUDS COMMITTED BY DELIBERATELY OVER RIDING THE STATUTORY PROVISIONS THAT COME UNDER THE SUBORDINATE LEGISLATION OF THE PARLIAMENT REGULATING THE PENSION SCHEME, BY THE BANK MANAGEMENTS REPRESENTED BY INDIAN BANKS ASSOCIATION (IBA) & THE BANK UNIONS REPRESENTED BY UFBU RESULTED IN THE DENIAL OF LEGITIMATE COMPENSATION AGAINST THE MOUNTING INFLATION TO THE RETIRED BANK PERSONNEL OF PRE-2002 & PERIODICAL REVISION OF PENSION:....."
AS REGARDS THE PRESENT POSITION CONCERNING PENSION UPDATION - PLEASE LISTEN TO THE FOLLOWING AUDIO CONVERSATION BETWEEN MR.DS MURTI & MR.KRISHNA MOHAN OF SBI, ABOUT THE LATEST POSITIVE DEVELOPMENTS ON PENSION UPDATION
MY HEARTY CONGRATULATIONS TO ALL THOSE 30,232 COMMITTED COMRADES WHO HAVE ALREADY SIGNED THIS PETITION AS ON DATE, AND APPEAL OTHERS TO JOIN YOUR HANDS ALSO TO FURTHER RAISE OUR VOICE VEHIMENTLY COLLECTIVELY & EFFECTIVELY.
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 :: 21 REQUESTEQUEST:
✴️Feedbacks@Random✴️
Communication chain between Com. Maltesh & DS Murti [21/07, 17:14] +91 99012 99508:
(Mr. Malatesh)
Sir, mr. J N SHUKLAJI FIRMLY ADVOCATE THAT THERE IS NO EROSION OF THE PENSIONERS CORPS, HELD IN THE HANDS OF TRUSTEES. BUT YOU DIFFER. SO, THE TRUTH MIGHT OR MUST BE IN BETWEEN.
PLEASE ENLIGHTEN US, & SHARMA JI AND J N SHUKLA JI ALSO.
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[21/07, 17:26] DEVULAPALLI MURTI: (To: Mr. Malatesh)
Patiently go through the entire content together with those in the annexures appended thereunder.
A careful perusal reveals the apparant truth. In fact, the CMD & OTHER TRUSTBOARD MEMBERS OF OBC FOUND GUILT IN THE CRIMINAL PROCEEDINGS INITIATED BY COM. SIDDHU
*https://drive.google.com/file/d/1xWCQCH1BIeSvKuSBeubMgrI2g5BxdrlV/view?usp=drivesdk
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DS MURTI VIJAYAWADA 21 December 2017 at 06:55
To: Hon'ble Mr. Justice Dipak Misra* The Chief Justice, Supreme Court of India Tilak marg, New Delhi 110201 Your Lordship,
REQUEST FOR "CAG" AUDIT OF EMPLOYEES PENSION CORPUS FUNDS IN ALL THE BANKS- (OUR LIFE-TIME SAVINGS) "SOS"*
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प्रशासनिक सुधार और लोक शिकायत विभागDEPARTMENT OF ADMINISTRATIVE REFORMS &PUBLIC GRIEVANCES wing of the Ministry of Personnel,Public Grievances & Pensions of Govt.of India
HARD COPY SENT BY SPEED POST #EN242156313IN / 08 12 2017
*https://drive.google.com/file/d/1tYT3IBsNh_dgvHmq3g2RcjicoERgGHpH/view
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To: Sri Urgit Patel, Governor, RBI
(duly acknowledged by RBI.)
https://drive.google.com/file/d/1Y6-yh2h2mB-kJR3EarzeiKbWa0Qt4FEB/view?usp=drivesdk
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My appeal dated November 26, 2017 more than 600 E-mails addressed to all MPs/ Jurists/ journalists/ VVIPs durung the year 2017 itself.. Some of them even acknowledged.
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