Petition to Hon'ble Prime Minister of India: Petition lodged in PM online portal & hard copy submitted by Speed post to PM & FM. Reg: Updation of Pension to Bank Retirees/Pensioners - out of their own Pension corpus Fund - PETITION UPDATE: 20.01.2017: This petition was started a month back by (1) Jayaprakash.N, (2) Jayaraman.N, (3) Jayaram.V, (4) HSN Murthy, (5) HS Vasudeva Rao, (6) Vijayalakshmi. Supporters to this petition crossed 2400. Sincere thanks to one & all. Is it not fact that Periodical pension updation is accorded to: * Retirees of central / State Government being direct Employer through Pay Commission? * Retirees of Armed forces under OROP? * Retirees of similar Boards/ Corporations of Government? * MLAs & MPs in addition to 100 per cent increase in their emoluments are also getting sanctioned perodical pension updation for just less than five years of their service? * All others have to serve for 20 years to eligible for pension? All the above are negotiated directly with government as Employer from Budgetary allocation which makes difference for exchequer. Whereas, updation of pension to Retirees of Banks are demanded from their own contributed & accumulated corpus fund, which is not a burden on exchequer. Similarly, All public sector Banks are owned by Govt. of India with major stake of capital base, passing on Dividend & net profits of the Banks to Govt. Central Government being Employer, Bank Employees wage revision & Retirees Pension updation bound to be negotiated directly with Government like any pay commission as applicable to central govt. employees instead of through an agency like IBA. IBA is not a public authority under RTI Act as confirmed by CIC. IBA is an Association of CEOs of the member Banks funded by such member banks. IBA is not established by Govt, not funded by Govt, not appointed under any notification, not even NGO, but as an unregistered agency is negotiating the wage settlement on behalf of the govt with the Representatives of Bank Employees without any responsibility, accountability. Why not issues be discussed/negotiated directly with govt., like pay commissions as applicable to govt employees. - Our demand is for updation of Pension from our own accumulated corpus fund, - no burden on exchequer through budget. - Supreme Court Judgments reiterates - Litigation should not be perpetuated. * Is not a fact that our beloved PM has recognised & appreciated the services of Employees & Retirees of Banks during the demonetisation drive? * Then why this shabby & inhuman treatment to Bank Retirees who have served their respective banks for 30-40 years and are suffering at the fag end of their life? Please log in to www.change.org, type Jayaprakash, to get the details of this petition & submit your support to this petition till it reaches our beloved PM / FM and other decision makers for favorable consideration.