The Employees of Regional Rural Banks (Gramin Banks) and their family members. To, Sri.Arun Jaitely Honourable Minister of Finance , Govt.of India New Delhi. Respected Sir, Sub : Predicament of Retired employees of Regional Rural Banks reg : We beg to submit the hardships and piteous state of the retired employees of Regional Rural Banks (popularly known as Gramin Banks) and their family members due to the denial of pension to this section of empolyees. As you are aware the RRB's were established by GOI as per RRB Act in 1976. The employees recruited at the begining of the Banks began to retire in the last two decades in large numbers. They along with their family members are in dire straits due to lack of an appropriate income after retirement. The mounting health problems in old age rendered them helpless for seeking further employment. A good number of them has succumbed to health problems and they are no more with us. While all the Govt.Employees,public sector employees and bank employees in public sector and private sector who had worked in the same economic sphere were paid pension, the inexplainable hardships faced by this section of employees were not considered inspite of appeals made before all authorities. Consequent upon the appeals made by employees the Division Benches of Honourable Karnataka High Court & Rajasthan High Court in 2011&2012 respectively, directed to implement a pension scheme at par with the pension schemes of commercial banks.Neverthless GOI choose to file an SLP no.39288/2012 against this judgement in the Honourable Supreme Court, causing much heartburn to the employees. On hearing the petition several time the Honourable Supreme Court directed GOI to reach an amicable settlement in their interim order dated 26.11.2014. We came to understand that an affidavit is filed by GOI on 10.07.2015 agreeing in principle for payment of pension to employees, but in practice the conditions imposed are so restrictive in nature, that the pension cannot be paid by the entire 56 RRB's barring one or two RRB's which can comply with the rigorous stipulations of capital adequacy and profitability. The RRB,s were designed to cater to the needs of rural people and rural development. They were the implementing agencies of proverty alleviation programmes of GOI like IRDP,SFDA,20 point, SGSY, NRLM, programme, MGNREGS etc. As the Banks branches were situated in the remote villages of the country, they became the sole agencies for implementing these programmes.The RRB,s were in the forefront for implementing social security programmes of PMJJBY,PMSBY, PMJDY, APY etc. The statistics with RBI will reveal that a major chunk of Pro -Poor, Pro-Farmer programmes were implemented by RRB's. It will be cruel to expect huge profit from Institutions implementing these pro-poor programmes in large volume in rural areas. Where as GOI in their affidavit had linked payment of pension with capital adequacy and profitability without addressing the lacunas pointed out as above.Moreover the Honourable Supreme Court has reiterated in several judgements that the pension has to be treated as deferred wages and the capacity to pay should not be an impediment to pay pension. In the affidavit filed a condition is imposed for 30% contributions from employees towards pension corpus fund where as in commercial banks no such contributions were demanded when pension scheme were introduced for the first time. The Banks were contributing 10 % of pay towards CPF before implementing pension and it was appropriated to pension corpus.In RRB's the contributions by the Banks were limited to Rs.650 per month even when the pay is Rs.65000 per month on an average,, thus making only below 1% of the pay as employers contributions to CPF,as the employees were covered under EPFO.Though this anomaly was recomended for removal as early as in 1992 by Gupta committee appointed by GOI, this was not implemented . It is unfortunate that GOI demands a share from employees to enable them to pay pension before the Banks were asked to make up the legaly obligatorycontribution of 10 % of pay to their CPF of the employees for the period they have worked.If this is worked out and implemnted, this itself will be sufficent for making the pension corpus fund. The employees who have retired will not be able to contribute this alarming sum to have pension, as many of them might have used up their savings by this time. We humbly appeal to take a decision to implement pension scheme in RRB's at par with pension schemes of commercial banks ,in order to mitigate the agonies of the retired employees of these banks as well as their family members.You may agree that delayed justice is denied justice and the affected persons were waiting for the last two decades hoping for a honourable pension. We hope you will use your good office and intervene in this matter and relieve us from this piteous circumstances. This petition is to be delivered to: Arun Jaitly Union Finance Minister, GoI