My Dear Friends,

PENSION UPDATION - "SANS"(sænz- sɑ̃) RBI PATTERN???

https://youtu.be/SX53J1mqJow?si=wOwYDorZOznLfM_V

PENSION SCHEME AS PER THE SETTLEMENT DATED 29 10 1993 FOLLOWED BY THE MINUTES OF THE SMALL COMMITTEE THERETO DATED 26 03 1994 SIGNED BETWEEN IBA & THE WORKMEN UNIONS

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

✴️QUOTE✴️

"... The Draft circulated was mutually accepted by the parties.The following points were further discussed and accepted :

1.....

2. Formula for Up-dating pension should be on the lines of the same given in the Reserve Bank Pension Scheme

Any Change therein should be introduced only after mutual agreement"

✴️ UNQUOTE✴️

By forwarding the signed copy of the above minutes, 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).  STILL HE PRETENDS IGNORANCE !!  

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

AS AGAINST THE ABOVE AGREED POSITION, AIBEA LEADERSHIP HASTILY & HURRIEDLY CAME OUT WITH HIS OWN INNOVATIVE CALCULATIONS FAR INFERIOR TO THE RBI PATTERN (As already indicated FOUR YEARS AGO IN 2019 ITSELF ) vide their circular LETTER No. 28/126/2019/10 dtd.18 04 2919:

https://drive.google.com/file/d/1hNCjTcGdXyv3xd0aL7WEFxhHVCZ2EIgE/view?usp=drivesdk

 �QUOTE�

[22/10, 21:59] BOI. CHENNAI.                E R IYER :

(Addressed To: D S Murti)

 Respected sir

I understand from my friend circle mostly updation will be decided on 27th. IBA UFBU meets.

[22/10, 22:40] 

DEVULAPALLI MURTI:

 My Dear Sri Iyyer garu !

https://drive.google.com/file/d/1hNCjTcGdXyv3xd0aL7WEFxhHVCZ2EIgE/view?usp=drivesdk

 Quite obviously Sir !

"Sans" RBI pattern

 ( As already indicated by AIBEA FOUR YEARS AGO IN in 2019 ITSELF ) vide their circular LETTER No. 28/126/2019/10 dated 18 04 2919

 �UNQUOTE�

EXPECTED PROBABLE AS PROPAGATED BY AIBEA 

(WAY BACK IN 2019 ITSELF IMMEDIATELY AFTER THE RESTORATION OF PENSION UPDATION IN RBI): 

Take for example of a 7th BPS retiree (1998 -2002 Batch) with a Basic Pension of ₹7500/-

The Multiplying factors:

As per RBI pattern : 5.83

As per AIBEA :          4.56

(1) AS PER AIBEA PROPOSAL:

7500 × 4.56 = 34218

Revised BP                       ₹34218                      

Current DR@44.25%)

34218×44.25%.                ₹15141

 GROSS PENSION           ₹49359

*** *** *** ***

 (2) AS PER RBI PATTERN:

7500×5.83=                          ₹43725

(DR@44.25%).                     ₹19348

   ₹43725 ×44.25%=. 

+ ₹19348                              ₹63073

     63073(-)49359

                        Net loss. ₹14714

BEING THE "HIS MASTER'S VOICE" OF THE IBA , PRECISELY THIS IS WHAT AIBEA LEADERSHIP HAS BEEN PROPAGATNG SINCE 2019 AS PER THEIR ABOVE COMMUNICATION AS AGAINST THE SIGNED MINUTES BETWEEN ALL THE CONSTITUENTS OF UFBU & IBA VIDE REF.NO. PD/CIR/76/G(ii) /1905 DATED 31 03 1994.

In terms of the above, there are lot of variations in the multiplying factors as proposed by the AIBEA IN ITS ABOVE CITED COMMUNICATION WHICH IS TOTALLY MISLEADING AND CONFUSING.....AND IS VERY MUCH AGAINST THE INTERESTS OF THE BANK RETIREES.

WE ARE MADE JUST MUTE SPECTATORS TO WATCH THE DRAMA BEING PLAYED BEHIND THE CURTAIN.

NOT WITHSTANDING THE ABOVE HURDLES.....

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||

దేవులపల్లి శ్రీనివాస మూర్తి 

Hyderabad :: 24 10 2023