28.01.2019
To:
The M.D. &CEO,
Oriental Bank of commerce,
Head office,
Plot no. -5, Sector -32,
Gurugram -122001

Dear Sir,

Sub: Family Pension & D.A. @RBI Pension rates.

Ref: 1. Your letter HO/PENSION-PF/2016-17 T 11451 September 3, 2016.

2. My letter dated 22.11.2016 sent by speed post on 25.11.2016.

It is more than 2 years and I have not received any information from the Bank in this matter. It shows how much you care about the senior citizens and pensioners of the Bank. It shows that you have no counter reply and yet do not want to give the rightful dues of the pensioners.

Now I am forwarding a letter F.NO. 15/32/2018-IR Dated 20/4/2018 from Government of India, Ministry of Finance, Department of Financial services. This information has been given under RTI by G.O.I. Your attention is drawn to page bearing no 264, under Periodic updating of Pension - para (IV). Besides other thing it states “family pension and other general conditions, etc. will be on the lines as in RBI.”

G.O.I has now confirmed that pension rules of PSB’s will be on the lines as in RBI. Now you are duty bound to make the pension regulations of Bank and RBI BEDROCK SAME as was done while amending pension regulation 22(4) of 1995. Under section 19.1 & 19.4 of Banking Companies acquisition &Transfer of undertaking Act 1980, G.O.I has given you power to amend the Pension regulations similar to that of RBI.

While following the Rules and enforcing the Regulations, the concerned Authorities have no discretion in its implementation. You can’t be choosy, making the Pension Regulation BEDROCK SAME in case of Regulation 22(4) of 1995 and in case of family pension and D.A. neutralization, ignoring and avoiding to do the same for more than 10years.

After signing of Bi-partite settlements, M.D. &CEO, does not give a second thought for implementation of terms and conditions, allowances etc. or to amount of allowances or the date from which these are to be paid. Even when this affects profitability of the Bank.
Why?: Employees will go on strike and will affect working of the Bank. Agreement of 1997 was signed by you and UFBU where it was established that Pension Regulations of Bank and RBI are BEDROCK SAME.

However when RBI improved its pension regulations regarding D.A and Family pension in 2008 and 2013, no action was taken by you in terms of settlement of 1997, when it will not affect the profitability of the Bank also.
Why? Pensioner can’t go on strike. And you are exploiting this situation.
Why? Two different standards, one for employees and one for retired employees. THIS IS THE RESPECT YOU GIVE TO THE SENIOR CITIZENS. Discrimination is also corruption.

Not adhering to the Contract (agreement) by any of the parties is a Criminal act. You are party to agreement signed in 1997(Given your mandate to IBA to sign the agreement). The directions given by the G.O.I in its letter mentioned above is THE LAW. The RBI has filed this letter in form of affidavit in the Mumbai High Court in its case with its own employees. Intentionally not following the G.O.I directions attracts VIGILANCE ANGLE.

You are earnestly requested to MAKE THE PENSION REGULATIONS OF BANK AND RBI BEDROCK SAME AS REGARDS D.A AND FAMILY PENSION.

You are requested to proceed in this matter at the earliest.

Thanking you,

Yours sincerely,

M.S. Sidhu
# 1509, Sector 11-D,.             Chandigarh - 160011.

Mobile: 9876101509