veteran august issue final copy (3)
TRANSCRIPT
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I.O.B. RETIREES ASSOCIATION(Affiliated to the All India Bank Retirees Federation, New Delhi)
Cordially invites you to attend the
Platinum Jubilee celebrations of Indian Overseas Bank
Com. L. Balasubramanian
On Wednesday the 10 August 2011, 05.30 p.m.
Greetings by
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Sri M. NarendraChairman and Managing Director, Indian Overseas Bankwill be the Chief Guest
President, I.O.B.Retirees Association presides.
Executive Director, Indian Overseas Bank
Executive Director, Indian Overseas Bank
General Manager, Indian Overseas Bank
President, AIOBEU
Sri AL. Chandramouli
Sri A. Vellayan
Smt. Nupur Mitra
Sri A.K. Bansal
Sri G. Ravindrakumar Gandhi
Director, Indian Overseas Bank & Chairman, Murugappa Group
Venue:
Dakshinamurthy Auditorium,P.S. Higher Secondary School, 215, Ramakrishna Mutt Road,
(Opp. R.K. Mutt) Mylapore, Chennai 600 004
PROGRAMME (10-08-2011 )
05.00 p.m. : High tea
05.30 p.m. : Platinum Jubilee celebrations of our bank.
Prayer
Welcome Address:
Presidential Address:
Address by Chief Guest:
Presentation of cheque to Secretary
Introductory Remarks:
Presentation of Cheque:
Honouring Retired General Managers
Honouring AIOBEU and IOBOA
Felicitations :
Vote of Thanks : ,
National Anthem
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Sri. T.R. Venkataraman
Sri. AL. Chandramouli,
Sri. M. Narendra,
Pay Back Scheme Mr. A.R. Palanisamy, SEED
Sri. J. Balasubramanian
Sri. KM. Narayanan
Sri. A.Vellayan,
Smt. Nupur Mitra,
Sri. A.K. Bansal,
Com. L. Balasubramaniam,
Com. S. Srinivasan,
Sri. B. Ramji
President
C & M.D., IOB
Director, IOB
Executive Director IOB
Executive Director IOB
General Manager, IOB
President AIOBEU
General Secretary AIOBEU
General Secretary
Sri. G. Ravindrakumar Gandhi,
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Quarterly News Bulletin of I.O.B. Retirees' Association
Volume : 2 August 2011 Issue: 3
1) 1
2) G S Speaks - 2
President speaks
The Course of a movement
3) An Appeal
4) Pay back Grows
5) Association News
Meeting with Sri. S. Chandrasekaran - GM (PAD) on 10-03-2011
Matters taken up with the Bank
New Pension Optees: Deduction of tax at source:
Pension Payment to I O B Pensioners on the last working dayChennai1 and Chennai -4 Regional Councils Joint meetingKolkata Regional Council, Quarterly Meeting and
Annual General meeting
Madurai Regional Council InauguratedPalakkad Regional Council : Meeting of 24-04-11 and 17-07-11Hyderabad Regional Council meetingSalem Regional Council Inaugurated
6) New Pension scheme Launched
7) AIOBEU launches NUBE
CONTENTS
8) FEDERATION NEWSOffice-bearers meeting of AIBRF
AGITATIONAL PROGRAMME LAUNCHED BY AIBRFSUPPORT FROM UFBU: NATIONAL CONVENTION
AIBEA writes to Finance Minister on Grievances of Bank retireesTamil Nadu Bank Retirees Federation Formed
AIBRF Central Committee meetsNo Income tax return
9) BANK NEWSSri.G. Ravindra Kumar Gandhi takes over as
General Manager (Personnel)IOB crosses business mix of Rs 2,50,000 croresIOB s Hat trick plus
10) Personal
11) Obituary
12) Deposit Mobilisation Campaign
13) Bank Pass Book
14) Dearness Relief from August2011 to January 2012 32
15) LEGAL CORNERHC: Dont make retirees run pillar-to-post for benefitsHistoric Judgment by Madras High Court:
President SpeaksMy Dear Veterans!
Since our last Issue many good things listed below have happened in our Bank for the Retirees thanks to the positive attitude exhibitedby our beloved C & M D Mr. Narendra, General Managers Mr. S. Chandrasekaran, Mr. G.R. Gandhi, Deputy General ManagerMr. V.C. Ramachandran and the Personnel Department. They are:
1. An additional Ex-Gratia of Rs1000/- over and above normal Ex-Gratia of Rs2090/- are being paid to Pre 1986 Retirees and spouses odeceased Pre 1986 Retirees. We have been representing to the Bank for increasing the Ex-Gratia amount since 1 September 2008We are happy Bank has conceded to our demand now. This is IOB exclusive. Had our Retired Executive Director Mr. S.N. Soni beenalive he would have been happy because this was thedemand made by hiswife when theundersigned andMr.B.Ramji called on them inLucknow. Now hiswife along with otherswill get this benefit.
2. Bank has set up Grievances Cell in response to our demand made to the Parliament Committee. our Banks Circular quoting IBAsCircular refers to this in their preamble.
3. Doubled theamount under Pensioners Loan.4. Started Issuing Identity Cards to the Retirees. Those of you who have not yet got the Identity Cards can approach Pension Paying
Branch for the same.
To give onemore option for theRetirees to join REMAS andpermit optees of VRS2000 also to join thescheme after their superannuation.To Sanction Festival Advance for Retirees.
Our Bank under the dynamic leadership of Mr. Narendra backed up by devoted IOBIANS is doing extremely well showing good results.I am sure shortlyBank will regainits glory and become theBest Bank in theindustry.In the recently concluded Executive Directors interview our Bank has got bountiful with selection of Mr. S. Chandrasekaran andMr. M.S. Raghavan as Executive Directors to fill the vacancies in UCO Bank and Indian Bank respectively. Mr. S.N. Mishrahas been selectedand kept in the waiting list. I congratulate all of them and wish them all the Best in their tenure as Executive Directors. I am happy tonote that IOBs potential hasbeen recognized andwish thesame trend continues in theyearsto come.We are celebrating Platinum Jubilee of the Bank on 10 August 2011. Our Chairman and Managing Director Mr.Narendra, Mr.A.VellayanDirector of our Bank and Chariman Murugappa Group along with Executive Directors Mrs.Nupur Mitra and Mr. A.K.Bansal will address theRetirees. Com Mr.L.Balasubramanian President AIOBEU and General Secretary NUBE will also offer his felicitations. Formal Inivtation isenclosed to this issue of TheVeteran. I request all Veterans to attend the meeting without fail.At theapex level we are trying to form Tamil Nadu Bank Retirees Fedeartion . So far we hadmeetings in Pondicherry. Coimbatore, SalemTrichy and Madurai. The response everywhere was overwhelming. The Federation will be inaugurated shortly in Chennai.
With Regards,Yours truly
st
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Bank is actively considering :
Al. Chandramouli
President
Once again I request youto attend the proposed meeting of our Association on 10th August 2011 andmake it a resounding success.
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G S Speaks
Dear Veterans !
The Course of a movement
When history is made, the people involved are neither aware of it nor about their role in it.
AIBRF
ParliamentaryStanding Committee on Personnel, Public Grievances, Law and Justice
all cadre
UFBU
All India Bank Retirees Federation(AIBRF).
Retired Bank Officers National Confederation (RBONC).United Forum of Bank Retirees
Organisations (UFBRO).
IOBRA AIBRF, UFBRO, Parliamentary Standing Committeeon Personnel, Public Grievances, Law and Justice 28 January 2009, IBA(
Dept of Banking of Ministry of Finance(
It is true
of First war of Independence in 1857, Quit India movement or Salt Satyagraha.
Similar is the case of trade union movement in Banks or the Bank Officer trade union movement, wherein wewere all actively involved till our retirement.
History never tires of repeating. It is happening once again. The growth of Bank Retirees organizations isslowly and steadily building up into a movement. is undoubtedly the pioneer and leader of this
movement. The defining events in the course of the movement are Our appearing before theon 28 January 2009 and our
stellar role in securing one more option for pension for retirees.
Our conscious efforts to promote and retain character in our organization meting out equatreatment to all retirees whether he/she is a General Manager retiree or a part time sweeper retiree, to bring al
the retirees who are not members of any retiree organization, into the movement and work in co-ordination
with in-service organizations under the umbrella of for achieving our demands has won theappreciation of retirees as well as serving employees. It has also earned us respectability with IBA as well as
Government Circles.
It is worth recording here that Bank Retirees movement is distinctly different from the earlier two movements-Employees movement and Officers movement. This is the third movement. Its growth is steady and strong.
As in any movement, this movement too is finding its own course, defining its goals and producing strong andcapable leaders.
There are two types of retirees organizations in banks. There are all-cadre organizations where award-staffretirees, retired officers and executives are members. Their ideology is that after retirement, there is no
difference between them. These organizations are mostly affiliated toThere are some more organizations whose membership is restricted to retired officers. These
organizations are mostly affiliated to Boththese organizations have come together under the umbrella organization
Both AIBRF as well as RBONC have affiliates in a number of Banks AIBRF in 18and RBONC in 12 accounting for a total membership of around 80,000 retirees. Both these organizations are
very active in representing retirees issues and problems before individual bank managements as well as IBA
and the Govt. Both are fully exploiting the judicial forums to protect the retirees interest. Their role in securing5 year weightage for VRS 2000 retirees and securing one more option for pension to the retirees is substantia
and can not be ignored.
as well as representing appeared before theon wherein represented by
its CEO, Deputy CEO and Personnel officer) represented by theJoint Secretary) and other Departments of the Govt of India, Dept of Personnel, Dept of Pensions, Dept of
Public grievances and a number of M.Ps who are members of the Committee participated. We raised all the
issues concerning retirees in the meeting. The issues raised are- 1.Pension Updation, 2.SanctioningD.A.Neutralisation at 100% to retirees who retired prior to 31-10-2002.3.Payment of arrears from date of
retirement to30-04-2005 and commutation difference on account of rectification of Basic pension anomaly inthe 8 Bipartite in respect of post 1-04-98 and pre 01-05-2005 retirees. 4. Demand for apportioning a
reasonable portion of Staff Welfare fund for retirees.5.Introduction of a uniform Hospitalisation scheme forretirees at the industry level.6. Recognition of Our organization and holding discussion with us on matters
concerning retirees.7.Demand for constituting Grievance Cells in all the banks to resolve the grievances ofretirees expeditiously. 8. Extension of one more option for pension that has been agreed for serving employees
to all the retirees as well.
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There was all-round sympathy for our issues among all the participants. At the end of the meeting it was
announced that Second option for pension will be extended to retirees also and that IBA will advise banks toset up grievance cells to handle grievances of retirees in all banks. IBA and Dept of banking agreed to consult
Retirees Organisations on matters concerning retirees. IBA was advised to formulate a hospitalization scheme
to cover retirees and also make recommendations for allocating a reasonable portion of Staff welfare fund toretirees also. It was unanimously felt and accepted that retirees are as much part and parcel of the banks as
other staff members. A mention about the Parliamentary Committee meeting will be found in the Preamble ofIBA Circular No. CIR: HR&IR/GS/2008-09/3059 dated 30-03-09 advising member banks to set up grievance
cells reading IBA along with the Ministry of Finance officials had recently appeared before the ParliamentaryStanding Committee on Pension, Public Grievances, Law and Justice on a representation made to the
committee by the retired bank employees.
All these facts establish that AIBRF as well as UFBRO have been successfully representing retirees issues
before IBA as well as the Government. - when the of was heldin Chennai to when the Second option for pension for retirees became a reality was the period o
hectic activity for both the retirees organizations and they moved to center stage and also drawn closer to in-service organizations. People started realizing that the Retirees organisations had a greater role to play in
future and were seen holding potential to become a much larger and stronger organization in near future.
Come January 2011, AIBOC holds its general Council meeting. They consider the issue of mobilization of thein order to consolidate their movement and ensure greater
relief to them. They observe
It also
observedThus
AIBOC laments on non resolution of long pending issues. But of the major namely 1.
owe their origin to a period when the then General Secretary of AIBOC was the convenor ofUFBU and made significant contribution in perpetrating the gross injustice on the helpless retirees. Similarly
for denial of Second option for pension to OSR-VRS retirees and CRS retirees, AIBOC can not claim to be
innocent as it is a signatory to the settlement.
We appeal to retirees to be careful about the machinations of the new crusaders of Retirees cause and stay
away from them.
As far as retirees of IOB are concerned, they have to be careful about the vociferous chorus that is heard now o
merger of the two retiree organizations i.e.IOBRA and Arise. People who have gone out of IOBRA are welcome
back to their homeland. But we have to be careful about any move to hijack IOBRA, which we have built upbrick by brick with our blood, to the outfit to be created as appendage of AIBOC in the name of retirees Unity.We are wedded to our ideology of our being an all cadre organization and our affiliation with AIBRF/UFBRO
We have miles to go to reach our destination. Let us March on
Yours truly,
December 2008 Triennial Conference AIBRFApril 2010
retiree officers under the banner of AIBOC
AIBOC floats organizations for
Retiree officers by splitting existing retiree organizations. Fine logic indeed- Their stated objectivewill be
two three issues Deniaof D.A.Neutralisation at 100% to retirees who retired prior to 31-10-2002 and 2. Non- Payment of
arrears from date of retirement to30-04-2005 and commutation difference on account ofrectification of Basic pension anomaly in the 8 Bipartite in respect of post 1-04-98 and pre 01-05-
2005 retirees,
All these make one suspect the motive of AIBOCs move to split retirees movement at thisjuncture.
B.Ramji
There are a number of Retirees/Pensioners Associations all over the
country, not been able to resolve grievances during the last several years. Hence theConfederation should take up the task of organizing the pensioners under its banner.
uniting retirees, but they will divide retirees into retiree officers and non officers. Their
stated objective will be to mobilize retirees under one banner, but they will be breaking existingretiree organizations.
The multiplicity of the organizations with no proper direction are only a hindrance for the resolutionof long pending issues of the pensioners in the banking industry
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General Secretary
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I. O. B. RETIREES' ASSOCIATION(Affiliated to the All India Bank Retirees' Federation)
# 2, First Cross Street, Jaya Nagar, Tamabaram Sanatorium, Chennai 600 047, Phone : 044-22418692, Mobile : 94440 13417
MEMBERSHIP - CUM - BIODATA FORM
Name :
Address in Full :
Pin Code :
Phone Number : Res. : Off. :
Mobile : .....................................................................................................
E-mail ID : .....................................................................................................
Date of Birth : ...................................
Educational Qualification : ...................................
Bank Roll No. : P.P.O. No.
Date of Joining the Bank :
Date of Retirement .................. : Super Annuation / Voluntary / Compulsory / VRS 2000
Designation on Retirement :
Branch last Worked :
Whether opted for Pension : Yes / No
Pension Payment Branch :
Basic Pension ........... D.R........... :
Whether Presently employed : Yes / No
If Yes, Details :
Blood Group :
Brief Medical History :
Contact Address :
Any other relevant information :
(in case of emergency)
I agree to abide by the rules and regulations of the Association, I enclose DD / Cheque for Rs. 500/-Towards Life Membership / I have already remitted the membership Fee.
Date : Signature
All remittance by A/c Payee Crossed Drafts / Cheque Payable at Chennai. Please note to mention P.P.O. No.
In all correspondence. Life time membership Rs. 500/-.
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MEMBERSHIP
Backside
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Meeting with Sri.S.Chandrasekaran-
GM(PAD) on 10-03-11
The Veteran,
We are glad
Sri. J. Balasubramanian
Chennai 6 (Mambalam Ashok Nagar
K.K. Nagar) Regional Council
Sri. S. Chandrasekaran 10th
March 2011
We have been reporting in the last few issues of
about the various issues
affecting the retirees, which we have taken up
with our Management.
to inform our members that our
representatives, ,
G enera l Manag er Retired, C ha ir ma n of
and our
General Secretary met the General Manager
(Personnel) on
and discussed these issues.
The meeting was fruitful due to the highly
positive attitude of the G M and decisions were
arrived at as follows. As you are aware, Sri.
Chandrasekaran was transferred to Delhi
immediately after our meeting and his
successor took
over on 6th April 2011.The credit for working
out details and successfully implementing the
commitments given to us by his predecessor.
. We had taken
up the matter with the Chairman and Managing
Director of the bank vide our letter dated 1-09-
08 We had submitted that the ex-gratia paid to
this category of retirees is uniform, (totaling to
Rs 2092 as at present), irrespective of the post
held by them at the time of retirement. We
submitted that this amount is very much
insufficient for the retiree to maintain his family,
more so with the spiraling cost of living.
Therefore we had requested for enhancing this
Sri. Ravindra Kumar Gandhi
1. Enhancement of Ex-Gratia Amount paid
to pre-1986 retirees and spouses of
deceased pre-1986 retirees
We could discuss the following matters
during the meeting
Association News
An AppealDear Friends!
We request all retirees who have not yetbecome our members to become membersand strengthen our organization. We requestour members to help us by canvassing andmaking all their friends as our members. Weare attaching a membership application formfor your use.
We request all Family Pensioners who have not
yet become our members to become membersand strengthen our organization.We request old members who had becomemembers before 2008 and who have not sentlatest personal data after 2008 to fill up theattached membership and bio-data form
for updating ourrecord
We request all beneficiaries (Retirees) ofSecond option for pension to send in theirdonation (equal to 15 days Pension) by cheque/ DD favouring IOB Retirees AssociationMembers are requested to remit Rs 100/-towards postage for posting The Veteran
Members are requested to donate liberally toimprove the financial position of ourAssociation.Members are requested to donate Liberallyunder Pay back scheme.
withoutany Cheque/DD
Donate liberally for effective functioning.Strengthen IOBRA and AIBRF
Pay back GrowsWe are overwhelmed by your response to our
editorial Pay back time that appeared inearlier issues of The Veteran
We had received some more response from
some of our members in the form of
contribution as follows.
Radhakrishnan 1000
P.Thirumoorthy 1000
P.Murari Rao 1000
M.Kameswara Rao 1116
S.Natarajan 800
M.A.Eswaran 500
M.K.Bhaskaran 1000
A.O.Bakkiam 500
Mrs.Valli Ulaganathan 500
K.Ponnambalam 500
R.Rajagopal 1000
S.Ganapathy Subramanian 2000
H.Parasuraman 1200
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amount to Rs5,000/-. After working out the cost
of the enhancement,
We had taken up the matter vide our
Letter dated 19-11-09. We had requested the
bank to sanction festival advance to all our
retirees who are getting pension from the bank,
once in a year for celebrating Festivals. The
amount of advance should be equal to one
months gross pension (rounded off to nearest
hundred) recoverable in ten equal monthly
instalments. This will be in similar lines of
festival advance given to serving members.
We append below the contents of our letter
dated 09-11-2010 addressed to the Chairman
and Managing Director on the above subject.
The bank had introduced
( f or
providing financial assistance to retired
employees of the bank to meet their medical
expenses on 12-07-2001.The retirees were
given six months time to join the scheme. But a
number of retirees could not join the scheme for
various reasons.
With a view to help retirees who were left out,
we had requested the bank to give one more
option to all retirees to join the scheme and
make some more improvements in the scheme
to enlarge its coverage and make it reach more
retirees in a more meaningful manner.
Conceding our request,
and some
improvements were made in the scheme, in
September 2007. Since then, we have been
Sri.Chandrasekaran
agreed to get it enhanced by Rs1000/- per
month with effect from 01-04-11.
2. Welfare Scheme for retirees- Festival
Advance.
We are glad to inform you that the General
Manager agreed to take up the matter
with top management for sanctioning
Festival advance to retirees.
3 . I nd ia n O ve rs ea s B an k R et ir ed
Employees Medical Assistance Scheme
(IOBREMAS)
IO B R EM A S )
one more option was
given to all retirees(other than VRS 2000
retirees) to join the scheme
It has
been implemented in June 11.
Indian Overseas
B an k R et ir ed E mp lo ye es M ed ic al
A ssist an ce Sc he m e
taking up with the bank to extend coverage of
the scheme to
We have brought to the knowledge of PAD that
Honble Supreme Court of India has given a
ruling in a writ petition filed by VRS2000 retirees
of Bank of India instructing the Bank to extend
coverage of REMAS to the VRS 2000 retirees on
their attaining 60 years of age as exclusion of
these retirees is illegal.
We had also written to the Executive Director on
29 September 2009, for extending coverage of
the scheme to
It is pertinent to note that the membership of
IOBREMAS is very low in comparison to the tota
number of retirees which has crossed 10,000.
With the offer of one more option to join the
pension scheme to existing PF Optee retirees a
record number of about 2000 are likely to join
the Pension scheme and almost all of them are
not members of IOB REMAS.
We requested the bank to give the new
pensioners as well as family pensioners an
option to join the IOBREMAS. Along with them,
other retirees and family pensioners, who had
not yet become members of IOBREMAS, also
should be given a chance to join the scheme.
This option should also be extended to VRS2000
as well as CRS retirees above the age of 60.
We also requested bank to enlarge the features
of the scheme to incorporate features available
in other banks like Indian Bank, UCO Bank,
Central Bank of India, Bank of Baroda etc. We
are ready to provide necessary inputs to the
Department, if needed.
our letter dated
18-01-2011 At the time of introduction of
Pension Scheme in the year 1995/96, retirees
who had earlier retired under banks Voluntary
Retirement scheme on health grounds had
applied for joining the Pension Scheme. The bank
declined the request of about ten such retirees
a ll r et ir ee s w it ho ut
exception.
all retirees.
We are glad to inform you that the Genera
Manager agreed to consider our request.
The matter is being placed before Staff
Welfare Committee for approval.
5. Sanctioning Pension (
)
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taking a stand that they can not join Pension
scheme as their ward was given compassionate
employment in the bank. (even though the
Pension Scheme does not endorse this view.)
This decision of the bank was challenged by
one of these aggrieved members
in Madras High court,
where, he won the case. The appeal of the bank
to the Supreme court was also dismissed and
the member was sanctioned Pension with
retrospective effect.
In a sensitive matter like this, it is normally
expected that the bank gives benefit of the court
decision to
But the bank did not do so for reasons best
known to them
The Indian Banks Association vide its Circular
No. CIR/HR & IR/G2/665/90/2010-11/2076
dated December 21, 2010, issued certain
clarification in respect of pensionary benefit to
employees who died after 24-04-10. The
Circular clarifies
We had requested the bank to implement the
same and notify the beneficiaries of this
decision.
Sri. P.N.
Balasubramaniam,
all the similarly placed retirees.
We had requested the bank to render
justice to other similarly placed retirees
and order sanctioning of pensionary
benefits to them with retrospective effect.
We are glad to inform you that the General
Manager agreed to examine our request
with an open mind.
6. Pensionary benefits to employees
who were in service of the banks as on
24-04-10 and died thereafter (Letter
dated 18-01-11)
we advise that the family of
the employee eligible to exercise the option who
died on or after 27.4.2010 shall be entitled for
full pension from 27.11.2009 or from the date of
retirement which ever is later till the date ofdeath and family pension thereafter. They will
also be eligible for commutation of pension;
provided they comply with the terms of the
settlement / Joint Note as mentioned in Para 1
above.
We are glad to inform you that the
General Manager agreed to implement
the IBA instructions immediately
7. Issue of Identity Cards (Lt. dated
15-06-10)
We are glad to inform you that the General
Manager agreed to issue Identity cards to
all retirees and put in place systems to
ensure that this becomes a regular affair.
You will be glad to know that the bank has
already issued the cards to all the eligible
retirees through their pension paying
branch. We request members to contact
the branch and collect their cards.8. Issue of Fresh PPOs:
We are glad to inform you that the General
Manager agreed to issue fresh P P O to
retirees in all such cases and put in place
systems to ensure that this becomes a
regular affair whenever there are any
modifications in Basic pension.
We had taken up with the bank in 2006 for
issuing identity card to retirees. This was
acceded to by the bank and identity cards were
issued initially to the pensioners. We were givento understand that similar cards will be issued to
non-pensioner retirees also at the earliest. We
expected it to be completed and issuance of ID
card to become an automatic practice at the
time of retirement.
We find that this exercise became an one time
affair and subsequent retirees as well as non-
pensioner retirees have not been issued with
I.D. Cards. We once again wrote to the bank
vide our letter dated 15-06-2010 requestingthem to issue Identity cards to all retirees.
The Bank had refixed the Basic Pension of a
considerable VRS retirees adding qualifying
service upto five years in terms of Regulation
29(5) complying with the Supreme Court
judgment.Their Basic pension as well as that of
other post 1-1-98 retirees was refixed earlier
after the last wage revision. We had requested
the bank vide our letter dated 19-11-09 to issue
fresh PPOs for all these retirees whose Basicpension was refixed.
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9. Enhancement of Pension Loan amount:
We are glad to inform you
that the General Manager agreed to our
demand.
Circular No : Dated :
Issuing Dept :
Earlier Circular referred :
Purpose of loan :
Eligibility :
Quantum of Loan :
10 months pension with a
ceiling of Rs2.00 lakhs
65 years of age and Rs.1.00 lakh
over 65 years of age
Repayment period :
36 EMI for those over
65 years
Interest Rate :
Security :
undertaking letter from the spouse or
other legal heirs
Hepromised to consider other financial
demands after the working results as on
31-03-11 is released. As per available
indications, It is likely to be extremely
good. We will continue discussions on
other pending issues at the earliest.
We had requested for enhancement of Quantum
of Pension Loan.
The bank has already enhanced this amount to
Rs.2,00,000/- and issued circular in this regard.
The salient features of C.O.Circular are as
follows:
ADV/002/2011-12
05-04-11 Retail Banking and
Marketing.
ADV/16/2006-07 dated 30-06-2006
For meeting any personal
expenses and the endues need not be
verified.
All pensioners
The loan amount
restricted to
for those not over
for those
who are
Repayable out of
pension amount in 48 EMI for those not more
than 65 years and
At present under floatingrate, it is base rate+2.75% and fixed rate it is
11%
Security not insisted. Obtention
of
waived for Ex-Staff
members of the bank who are drawing
pension from the bank
Friends, We are happy that the General Manager
was very positive throughout the meeting.
We thank Sri. S. Chandrasekaran, Genera
Manager, Sri. G. Ravindrakumar Gandhi,
General Manager and the other executives of
PAD profusely for this generous gesture
On behalf of all the retirees we bless them and
pray to the Almighty to grant exemplary al
round growth to IOB, our bank
We had
taken up this matter with the bank vide ourletter dated 26-06-09, which was followed up
with letters dated 26-12-09, and 19-04-10, and
18-01-11.
The ,vide its
Circular No. CIR: HR&IR/GS/2008-09/3059
dated had asked member banks to
Main features of this
mechanism are as under:
1. Grievance cell will be established atcorporate level of banks.
2. Grievances can be submitted by individuals
as well as Association of Retirees.
3. Banks have been asked to hold talks with
the representatives of retirees associations
on periodical basis say once in a half year, so
that the grievances can be settled across
the table.
We consider this as one of the milestone
achievements of the retirees movement under
the banner of . It is a matter of great
satisfaction for us as this is a direct outcome of
the
to
You will find a mention of this
meeting in the opening sentence of the above
m entioned IBA com municat ion r ea ding
10. Setting up Grievance Cell.
Indian Banks Association
30-03-09
establish grievance cell for redressal of
grievances of retirees.
AIBRF
meeting of the Parliamentary Standing
Committee on Pension, Public Grievances,
Law and Justice held on 28-01-09 under
the chairmanship of Dr. E.M. Sudarsana
Nachiappan, M.P. discuss the grievances
raised by our organization, I.O.B. Retirees
Association.
IBA along with the Ministry of Finance
officials had recently appeared before
the Parliamentary Standing Committee
on Pension, Public Grievances, Law
and Justice on a representation made to
the committee by the retired bank
employees.
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We are glad to inform you that Sri. G. Ravindrakumar Gandhi, General Manager has initiated
immediate steps to establish the Grievance cell in our bank
From ToINDIAN OVERSEAS BANK ALL INDIAN BRANCHES/GRIEVANCE CELL REGIONAL OFFICES
GRIEVANCE CELL FOR RETIRED BANK EMPLOYEES
PREAMBLE
Grievances
. ( )
Non-Grievances
Indian Overseas Bank Retirees Grievance Cell
.
INDIAN OVERSEAS BANK RETIREES GRIEVANCE CELLPERSONNEL ADMINISTRATION DEPERTMENT
( G.R.GANDHI )
. Detailed circular has since been issued
The Circular is reproduced here below:
PERSONNEL ADMINISTRATION DEPARTMENTCENTRAL OFFICE, 762 ANNA SALAI, CHENNAI 600002
IBA and Ministry of Finance had appeared before the Parliament Standing Committee on Personnel and PublicGrievances, Law and Justice based on a representation made to the committee by the Retired Bank EmployeesThe issue of requirement of Banks looking into Grievances of Retired Employees was discussed in theManagement Committee of IBA. The Committee after deliberations approved the setting up of a grievance Cellat Corporate Office of the Member Banks to look into the grievances of Retired Employees on a regular basis.IBA has advised Member Banks to constitute Grievance Cell. Accordingly, we have set up a Grievance Cell atCentral Office.The functional set up of Grievance Cell will be as follows.The letters/complaints received from individuals/retiree associations are classified as Grievance andNon-Grievance, depending on the nature of letters/complaints as detailed below:
a) Complaints about delay or non-payment Payment of Pension,Payment of medical bills under REMASb) Grievances of non implementation of policies, wrong interpretation of policies or improvementsDemand for new benefits/facilities/conveniences
a) Seeking information.b) Seeking assistance ( loss of Pension Payment Orders, Loss of I.D Cards ).
To enlarge the scope of Grievance Cell and for proper handling of the same, the following specific role functionsare assigned1. Grievance cell I named as2. Letters/ Complaints received from individuals addressed to Branches/Regional Office should be redressed
within 15days from the date of receipt under advice to the sender, if it is within the purview oBranches/Regional Offices. Letters received from Branches/Regional Offices addressed to Grievance Cell,C.O should be forwarded to Central Office immediately on the date of receipt.
3. Representations related to grievances submitted by individuals as well as Association of Retirees have to
be in writing in the form of letter, e-mail or Fax4. As soon as a letter is received under any of the above categories it should be acknowledged to the sender
and a Grievance number should be given and sender advised that the grievance will be resolved within15 days and under advice to the sender
5. Letters / Complaints received at Grievance Cell, C.O shall refer the matter to the Department / officialsconcerned for resolution of the grievance
6. The matter referred to by the Grievance cell will be attended to on priority basis and the grievance will beresolved by the concerned official within 7 to 15 working days
7. On receipt of reply from the Department/officials at Central Office, the Grievance cell in-charge will satisfyhimself that the grievance has been satisfactorily resolved by the concerned departments/officials. If it is notsatisfactory, he will immediately escalate the matter to General Manager (PAD) Central Office for resolution
8. The sender will be advised of resolution of the grievance after making necessary entries9. The grievance cell at Central Office will conduct a meeting with the representatives of Retirees Association
appraising them of the activities of the cell during the year. The meeting will be presided over by Genera
Manager(PAD), Central Office10.All departments in Central Office/ Regional Offices/ Branches should handle relevant grievances of retirees
with utmost consideration with objective to ensure that not attending the issue itself should not result inanother grievance. The grievances should be attended to sympathetically with helping tendencies.
11.This may be brought to the notice of all Indian Overseas Bank Staff Pensioners informing them of aseparate Grievance Cell at Central Office functioning at the following address:
GENERAL MANAGER
TRANSIENT SERIES ( FILE F) CIRCULAR NO.22/2011-2012 DATED 17.06.2011
Central Office, 762 Anna Salai, Chennai 600002. Ph : 044-2851 9644, Fax : 044-2851 4911, E-mail : [email protected]
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Pension Payment to I O B Pensioners
New year day i.e. 01-01-11.
decided to make payment of
Pension in the ensuing months on the last
day of the month for which pension is paid.
CMD Sri.M.Narendra
Sri.G.Ravindra Kumar Gandhi
New Pension Optees: Deduction of tax atsource:
Chennai 1, Mylapore - Triplicane RegionalCouncil and Chennai 4, Adyar, Besant Nagar,
Tiruvanmiyur Regional Council joint meeting
We had reported in the previous issue of the
Veteran that the First of January is a bank holiday
in Tamil Nadu where our Central Office is situated,
and the Second of January was a Sunday, as per
the prevalent practice, the pension was to be
credited only on 03-01-11. Acceding to our
request, the pension for the month of December
was credited to the pensioners accounts on the
We had been requesting our management to credit
pension on the last working day of the month for
which the pension is credited. We had pointed out
in our letter dated 20 April 2010 that
We are glad to inform you that the bank paid
pension for the month of May 2011 on the 31st
May itself and has
We thank our and GM
Personnel , for
this act of love and affection for the retirees.
We had written to the bank on21-03-11 requesting
them to treat the amount deposited by the new
pension optees, i.e 2.8 times of the revised salary forthe month of November 2007 recovered from serving
employees as well as the additional contribution of56% of the banks contribution of P F. deposited by
the retirees at the time of opting for Pension as
A meeting of the members attached to our
Chennai 1 and Chennai 4 regions was held inV ivekan anda H all at P.S.Higher S ec ondary
School.on25th April 2011 Sri.V.S.T.Kumaraswamy,Our Founder Vice-President Presided over the
meeting. Sri.T.R.Venkataraman, Chairman of our
th there are
many categories of pensioners whose pension is
credited in the last week of the month itself. In the
case of Public sector banks, banks like
are paying
pension to their pensioners on the
itself
Therefore, we requested the bank to change the
present system and start paying pension to ourpensioners on the
itself
Bank of
India, and Central Bank of India,
last working
day of the month .
last working day of the
month .
contribution to Approved Superannuation Fund
(Pension Fund) to enable them to avail ofdeduction under section 80C (2) (vii) of the
Income Tax Act1961.
Chennai-4 Regional Council welcomed the gathering
and Sri.K.M.Ramanathan Regional SecretaryC he nn ai -1 Re gi on al C ou nc il c om pe re d t he
proceedings of the meeting.
Com.B.Ramji, General Secretary IOBRA detailed the
latest developments in respect of retirees matters.He narrated the details of the outcome of our
m e e t i n g w i t h G e n e r a l M a n a g e r S r iS . C handrasekhar an on 10- 03-11, w herein
favourable decisions were taken on a number of
matters pertaining to retirees.
Our Regional Office-bearers and members present inthe meeting wanted to know about our Associations
stand on the matter of unifying ARISE as well as
IOBRA. He recalled in brief the history of IOBRA andthe purpose for which ARISE was formed. He
narrated how, during our last Triennial Conference In2008 he approached ARISE through IOBOA and
requested them to come back to IOBRA which theysplit to form ARISE. They did not at all respond at
that time. Subsequently also they were continuingtheir activities as a rival organization. Mr.Ramj
narrated the decision of AIBOC to split the bankretirees Movement by promoting an exclusiveorganization for retiree officers. It is against this
background the anxiety of ARISE to merge withIOBRA to be viewed. Our ideological commitment to
run our Association as an All cadre organization andour affiliation with AIBRF/UFBRO has to be cherished
and preserved at all costs. The scheming move tohijack our organization to AIBOC will be resisted-
said our GS. The entire audience unanimously
approved the principled stand taken by ourAssociation.
The following members who have crossed 70 yearsof age were felicitated:- 1. Sri. T.R. Venkataraman
2. Sri. S.S. Sundaram, 3. Sri. E.T. Sankaran Kutty,4. Sri. M.K. Narayanan, 5. Sri. R. Srinivasan
(Vigilance Dept. Retired) 6. Sri. T. Surendran and7. Sri. R. Ramadurai
Sri.P.K.Shantaram Regional Secretary Chennai-4Regional Council Proposed vote of thanks
The Kolkata Regional Council conducted its quarterly
meeting on 05-03-11. The meeting was wel
attended. The P.F.Optee retiree members whoexercised their option and got their pension
sanctioned under one more option shared theirhappiness. Their grievances pertaining to mistakes
in their PPOs were listed out for rectification.
Our Kolkata Regional Council conducted its AnnuaGeneral Council meeting on 12-06-11 at Regiona
office Kolkata. Sri.B.Ramji General Secretay IOBRAparticipated and detailed the various developments
Kolkata Regional Council
Quarterly meeting
Annual General Council Meeting
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at our organizational level and at the industry level.
He gave details of decisions taken in our meetingwith GM(PAD) Sri.S.Chandrasekaran on 10-03-11
where positive decisions were taken on a number ofmatters resulting in benefits to retirees
Our Regional Office-bearers and members present inthe meeting wanted to know about our Associations
stand on the matter of unifying ARISE as well asIOBRA. Mr.Ramji narrated the decision of AIBOC to
split the bank retirees Movement by promoting an
exclusive organization for retiree officers. It isagainst this background the anxiety of ARISE to
merge with IOBRA to be viewed. Our ideologicalcommitment to run our Association as an All cadre
organization and our affiliation with AIBRF/UFBROhas to be cherished and preserved at all costs. The
move to hijack our organization to AIBOC will beresisted- said our GS. The entire audience
unanimously approved the principled stand taken byour Association.
The Annual report for the year 2010 as well asAccounts for the same period were presented and
approved.The following members who had completed 70 years
were honoured; Sri.Ajit Kumar Basu, Sri.Nirmal
Chakraborty, Sri.Ashim Kumar Das, Sri.KashinathDey and Sri.Nirmal Kumar Goswami
The following members were elected to the RegionalCouncil for the year 2011:
Sri.G.C.Basu, President 9830467468Sri. Robin Ganguly, Jt.Convenor 9830827050
Sri.D.K.Bhaumik, Jt.Convenor 8013316837Sri.Tapan Maitra, Member 9831222957
Sri.Tapan Roy, Member 26412897
Sri.Amiya Banerjee Member 9674374796Sri.Harendra Nath Mandal, Member 9432331773
Sri.Mohinimohan Das Adhikary, Member9831941462
Sri.P.K.Bagchi
.Our Madurai Regional Council was inaugurated on
18-02-11 at Madurai..
Sri. R.Venkateswaran, Retd DGM presided over the
meeting. Sri. M.Muthu Retd. D.G.M welcomed the
gathering and detailed the latest developments inmatters of interest to retirees especially the second
option for pension to retirees. Sri. B.Ramji GeneralSecretary IOBRA inaugurated the Regional Council and
addressed the members appraising them of the latestdevelopments. Sri. C.Muthiah offered his felicitations.
Sri. V.Balakrishnan proposed vote of thanks.
The following members who had crossed 70 years of
age were felicitated: Sri. O. Natarajan Chettiyar,S ri . C . M ut hi ah , S ri . K . Po nn am ba la m,
Sri. S.V.R. Venkatachalam, Sri. K. Velu Maharajan
and Sri. Rm. Viswanathan
Madurai Regional Council inaugurated
The Regional Council is constituted with the followin
membersSri.R.Venkateswaran Chairman- 94865 03688
Sri.M.Muthu Secretary-93455 04035
Sri.M.A.Shanmugam Member - 94430 16938Sri.V.Chellapandi Member - 94867 28828
Sri.N.Panchatcharam Member -94430 28538Sri.S.Shanmuganathan Member -94433 05596
Sri.V.Balakrishnan Member -99449 34430Sri.S.Piramanayagam Member -94430 81463
Sri.N.Narayanan Member -94437 74839
The quarterly meeting of Palakkad Regional Counc
was held on 24-04-11. Sri.M.Radhakrishnan, membe
of our Chennai -1 Regional council was the chie
guest. Sri.M.B.Chandran presided over the meeting
Convenor Sri.G.Chandran conducted the meeting
Sri.M.K.Vasudevan, who has crossed 70 years of ag
w as h on ou re d. Sr i P. A ra vi nd ak sh an &
Ramachandran (both Committee Members) Spok
the problems faced by Retirees.Sri M Radhakrishnan, in his key note addres
explained in detail the difficulties faced because of th
rival association, ARISE. He also stressed tha
number of persons attending the meeting
important, but more important is their INVOLVEMENT
Sri. P V Parameswaran, Retd A G M, who was on th
Dias released the much awaited Address Book of I O
R A- Palakkad Unit and presented first copy to Mr. M
Chandran.Copies were given to all the member
present, By Mr G Chandran.
Convener Mr G Chandran, read the minutes an
accounts of the last meeting, which was approve
unanimously, by the sadas.
The meeting concluded with the Vote of thanks by M
G Chandran, Convener.
The quarterly meeting of Palakkad Regional Counc
was held on 17 July 2011.Sri.M.B.Chandran preside
over the meeting. Sri.T.R.Gopalakrishnan was also o
the dais.Mr.C.Ramachandra varrier welcomed th
gathering.Mr.Mohan Ram.C.Menon Legal Adviso
spoke on the need for leaving a will and how t
prepare a will. Sri. G.Chandran, Regional Secretar
spoke on pending issues.
Sri.S.Jagannathan, Regional Secretary, Coimbator
Regional council informed members on lates
developments. He gave details of decisions taken i
our meeting with GM(PAD) Sri.S.Chandrasekaran o
10-03-11 where positive decisions were taken on
number of matters resulting in benefits to retirees
Sri.G.Chandran proposed vote of thanks
Palak kad Reg io nal C ou ncil : Meeting o
24th April 2011
Meeting of 17 July 2011th
th
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Hyderabad Regional Council
Salem Regional Council Inaugurated
A meeting of members attached to HyderabadRegional Council was held on 03-04-11 at
Hyderabad. Sri.T.Venkata Reddy, Retd G.M. presidedover the meeting. Sri.B.Ramji General Secretary
IOBRA participated and detailed the variousdevelopments. He gave details of decisions taken in
our meeting with GM(PAD) Sri.S.Chandrasekaran on10-03-11 where positive decisions were taken on a
number of matters resulting in benefits to retirees
The following members who had crossed 70 yearswere honoured:
1. Sri.I.Bhaskara Rao 2.Sri.S.V.Ramakrishna3. Sri.M.Kameshwra Rao
4. Sri.M.Srirama Rao 5. Sri.V.V.G.K.Murthy6. Sri.S.Udayachala Rao
7. Sri.A.Ramanatha Rao 8. Sri.A.Sundara Raj9. Sri.V.V.Sarma
10. Sri.R.Venkateswarulu 11. Sri.K.V.P.Sastry
12. Srimati.S.R.Ramesh Kumar.
The inaugural meeting of our Salem Regional Council
was held on 03-07-11 at Salem.Sri.T.R.Nagaswamy,r et ire d D GM p re si de d ov er t he m ee ti ng .
Sri.N.Vijayaraghavan Regional Secretary of ourChennai 2 Region welcomed the gathering.
Sri.S.Jagannathan Regional Secretary IOBRA
addressed the members on the achievements of ourAssociation, more particularly, the one more option
for pension for retirees Sri.B.Ramji GeneralSecretary IOBRA addressed the members detailing
the latest developments and inaugurated theRegional Council. He narrated the action plan
chalked out by AIBRF for achieving our demands
The following members who had crossed 70 years
were honoured Sri. T.R. Nagaswamy, Sri. B.S.Barkhatullah, Sri. B.G. Ramamurthy, Sri. K.N.
Ramamurthy. Sri. M.A. Easwaran, Sri. M.V.Jayaraman, Sri. C. Tanikachalam and Sri. K.G.
Krishnan
The Salem Regional Council will consist of thefollowing members:
Sri.T.R.Nagaswamy Chairman 9250033820
Sri.B.G.Ramamurthy Secretary 9150413578Sri.B.S.Barkhatullah Member -9842816692
Sri.V.Jayakumar Member -NamakkalSri.P.Rajendran Member -99445 10335
Sri.A.Singaravelu Member _94439 34501Sri.R.Kandaswamy Member -9443244052
Sri.M.Manickam Member -9442958658Sri.M.Munuswamy Member 9362026625
Sri.M.Chandrasekaran Member 98942 34001
Sri.T.M.Thangavelu Member -9443479864Sri.R.Srinivasan Member -99245449592
Sri.A.Michaelraj Member 9443219853
New Pension Scheme introduced
on or
after 1 April 2010
Defined Contributory Pension Scheme
10% of the pay and dearness allowance
matching
contribution
Government Sector Pension FundManagers
AIOBEU launches NUBE
You are aware that in terms of the Memorandum
of Settlement dated 27.04.2010 signed by Indian
Banks Association with representative Workmen
Unions and Joint Note dated 27.04.2010 signed
with representative Officers Organisations,
employees joining the services of Banks
shall be eligible for the
the
banks will be introducing for them.
The Defined Contributory Pension Scheme
proposed to be introduced for them will be one as
governed by the provisions of New Pension
System introduced for employees of Central
Government w.e.f. 1 January 2004 and as
modified from time to time. The Scheme shall be
regulated and administered by the Pension Fund
Regulatory and Development Authority (PFRDA).
There shall be no separate Provident Fund for
employees joining services of the Bank on orafter 01.04.2010. The employees joining the
services on or after 01.04.2010 shall contribute
towards the Defined Contributory Pension
Scheme and the bank shall make a
in respect of these employees.
IBA has now sent their circular dated 6.7.2011
advising the Banks to introduce the New Pension
Scheme based on the scheme devised by the
PFRDA for the Government Sector and to choose
the
Old timers in Bank employees trade union
movement, especially in Indian Overseas Bankremember the contribution of AIOBEU in building up
apolitical trade union movement in banking industry.
It was in this process, the first Bank employeescentral trade union, National Union of Bank
Employees was formed way back in 70s. With StateBank employees joining, it later on became NCBE.
Due to organizational differences, AIOBEU decidedto part ways with NCBE and launch a new Central
Trade Union Organisation named National Union ofBank Employees. Apart from AIOBEU, there are
some more banks in it. Com.L.Balasubramanian,
President AIOBEU has been elected its GeneralSecretary. Nube has already been registered and has
been invited to appear before Central LabourCommission for conciliation on the strike notice
issued for strike on 05-08-11. We wish NUBE all luckand success.
st
st
.
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Office-bearers meeting of AIBRF
AGITATIONAL PROGRAMME LAUNCHED BY
AIBRF
I PHASE OF AGITATION SUBMISSION OF
MEMORANDUM:
A meeting of the office-bearers of AIBRF was held in
Lonawala on 05-03-2011 and reviewed the progress
made in the First phase of Agitational programme
and chalk out the second phase of agitational
programme.
All India Bank Retirees Federation to whom we are
affiliated, have launched agitational programme in
phases to draw the attention of the concerned
authorities on the long pending demands of the bank
retirees. They are:
1. Pension updation on the pattern of 6 Pay
Commission
2. 100 percent DA neutralization to pre 2002
retirees
3. Uniform Medical Scheme for retirees
4. Two percent of bank profit should be allocated for
Welfare of bank retirees
5. One more option for pension should be given to all
past retirees who are originally eligible as per
provisions of Pension Regulation 1995
6. Differentiation between retirees and resignees
should be removed for pension option
7. Establishment of proper grievance redressal
mechanism for retirees in all Banks
8. Index based dearness rates should be granted to
retirees on quarterly basis along with servingemployees instead of six monthly basis.
9. Improvement in Ex-gratia amount payable to pre
1986 retirees
Under the I phase, AIBRF had already submitted
Memorandum to Sri Pranab Kumar Mukerjee,Honble Finance Minister, other Central Ministers,
Members of Parliament, Chairmen of all Banks, IBAauthorities and leaders of the United Forum of Bank
Unions.
We in the IOBRA took responsibility for and dulysubmitted the memorandum to Sri.M.Narendra,
Chairman and Managing Director Indian OverseasBank, Sri.T.M.Bhasin, Chairman and Managing
Director, Indian Bank, Com.C.H.Venkatachalam,Convenor UFBU and General Secretary AIBEA,
Com.R.J.Sridharan, General Secretary AIBOA andCom.L.Balasubramanian, who was Chairman of
NCBE at that time. We were assured of active support
by all the above mentioned ospitaliza
TH
FEDERATION NEWS
II PHASE OF AGITATION:
Mr Pranab Kumar Mukeerjee
I, senior citizen and Bank retiree, demand
immediate resolution of long pending
d e m a n d s o f p e n s i o n u p d a t i o n ,
i m pr ov em e nt o n f a mi l y p e ns i on ,
improvement in ex-gratia amount to pre
1986 retirees, 100% DA neutralization to
pre 2002 retirees, uniform medical
scheme etc. I humbly request you to ask
IBA & Banking Division officials to discuss
these demands with representatives of
retirees for immediate solution. With
respectful regards,
SUPPORT FROM UNITED FORUM OF BANK
UNIONS: NATIONAL CONVENTION
As per the II Phase of agitation, it has been proposed
to write post-cards to the Finance Minister drawing
his attention on the pending demands of bank
retirees. Each and every retiree shall write a post
card to the Finance Minister. This exercise is to be
done between 15 and 30 June. Out of the totamembership of over 35,000, AIBRF expects atleast
10,000 retirees shall write post cards. The post
cards are to be written in ones own handwriting
This alone will create the desired impact. The retiree
should write his/her residential address at the end of
the message. The post card should be sent to the
following address:
Honble Minister for Finance
Government of India13 Talkatora Road, NEW DELHI 110 001.
We give below the text of the message to be written
on the post card.
The third phase of agitation includes Press
conferences, press release and interaction with
medi a at ma ximum number of cent ers Dharna/Relay Hunger strike at large number o
centers will be the fourth phase of agitation. Weshall let you know the details in due course.
The National Convention was convened by UFBU in
the context of the increasing attempts to expedite
banking sector reforms, to outsource permanent andperennial banking jobs and services, to foist the
retrograde recommendations of KhandelwaCommittee Report and the inordinate delay in
resolving the important issues of the bankemployees and officers.
th th
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The Convention was presided over by the followingleaders :-
Com. Rajen Nagar, AIBEA,Com. K.D.Khera,
AIBOC,Com. Milind Nadkarmi, NCBE, Com. N.S.Virk,
A I B O A , C o m . R a m e s h B a b u , B E F I ,
Com.B.S.Gill,INBEF, Com. K.K.Nair, INBOC,Com.
Dinesh Kulkarni, NOBW,Com. A.N.Madhusudan, NOBO.
Com. C.H. Venkatachalam, Convenor, explained the
seriousness of the issues before the bank employees
and presented the Declaration proposing an All IndiaAgitation & Strike on 7 July, 2011. Com. G.D. Nadaf
(AIBOC) seconded the Declaration.
Leaders of the UFBU constituent unions spoke in
support of the Declaration and appealed for
successful implementation of the programmes.
From our side, the Convention was attended by Shri
S.C.Jain, General Secretary, D.P.Gupta, Deputy
General Secretary, P.S.L.Haragopal, Vice President,
M.S.Chourey, Treasurer of All India Bank Retirees
Federation, besides 25 other activists.
In the said convention, AIBRF pledged full support tothe UFBUs agitation and long pending issues of
retired bank employees were effectively highlighted.
Most of the speakers from UFBU have concern on
retirees issues and expressed happiness on the
presence of retirees in the convention of serving
bank employees.
We are happy to inform that the Declaration adopted
by the Convention unanimously included Retirees
Demands like improvement in Pension Scheme,
100% D.A.Neutralisation, Improvement in Family
Pension, Ex-gratia payment etc. As such, our
National Organisation All India Bank Retirees
Federation has called upon its affiliated Units to
wholeheartedly participate with our banner in the
UFBU programmes all over the country.
In view of the above, we call upon our functionaries at
all levels to contact local UFBU representatives and
ensure that our retirees participate in the
demonstrations during 21 25.06.2011, Badge
Wearing on 30-06-2011, Mass Rally on 04-07-2011
and strike action on 07-07-2011 being ospitali by the
S ta te L ev el /D is tr ic t L ev el U FB U i n S ta te
Capitals/District Centres across the country and makethe agitation programme a resounding success.
The following leaders of the Central Trade Unions
took part in our convention.
D r. S a nj e ev a R ed d y, P re si d en t , I N TU C,Com. Gurudas Dasgupta, General Secretary,
AITUC,Com. B.N.Rai, General Secretary, BMS,Com.A.K.Padmanabhan, President, CITU, C o m .
Umraomal Purohit, General Secretary, HMS
th
Support from Central Trade Unions :-
Com. M. S. Upadhyay from General InsuranceEmployees All India Association, Com. Bhatnagar
from All India Insurance Employees Association andMr. S.C. Jain from All India Bank Retirees Federation
greeted our convention and extended their support.
Main Issues and Demands :-1. Do not privatise Public Sector Banks
2. Do not reduce Governments equity in
Public Sector Banks
3. Do not avail World Bank Loan to capitalisePublic Sector Banks
4. Do not proceed with merger of Banks
including the Associate Banks with SBI.5. Do not allow unrestricted entry of foreign
capital in banking sector.6. Do not delete Section 12(2) of Banking
Regulations Act
7. Do not remove the ceiling on voting rightsof foreign investors.
8. Do not issue licence to industrial houses tostart their own Banks.
9. Do not outsource permanent banking jobsand normal banking services
10. Do not proceed with the scheme of privatebusiness correspondents
11. Do not violate provisions of Bipartite
Settlement on outsourcing12. Provide adequate staff in Banks through
recruitments to maintain and improvecustomer services.
13. Revive BSRBs for recruitment of staff inPublic Sector Banks.
14. I m p l e m e n t t h e c o m p a s s i o n a t eappointment / financial compensa-tion
scheme as ospitali between IBA & UFBU.15. Issue revised uniform guidelines on house
building loan, vehicle loan and festiva
advance to bank staff.16. Implement 5 day banking
17. Regulate and define working hours of bankofficers.
18. Improve Pension Scheme in bankingsector on the lines of Central Government
Scheme updation of Pension along with
wage revision of in service employees,uniform D.A. neutralization, improvement
in commutation, Family Pension, Ex-Gratia
of pre 1986 retirees, etc.19. Withdrawal of Governments arbitrary
i n s t r u c t i o n s t o B a n k s n o t t o
improve/amend any service conditionwithout their permission.
S c r a p K h a n d e l w a l C o m m i t t e e
Recommendations.
All India Bank Strike slated for 7 Julypostponed to 5 August 2011
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AIBEA writes to Finance Minister onGrievances of Bank retirees
WeAIBEA
Shri. Pranab Mukherjee
Reg :
All India Bank Retirees Federation andUnited Forum of Bank Retirees Organisation
reproduce here below a letter dated 25 May2011 written by to the Hon'ble Minister ofFinance
Dear Sir,
The
have been representing to the Government andIndian Banks Association to redress some of theirgenuine grievances and demands but with no effectso far. You are well aware that the Pension Schemeevolved and introduced in the Banks is exactly on thelines of Central Government Pension Scheme andhence some of the improvements that have beenincorporated in the Government Pension Schemeconsequent to the 6 Pay Commission need to beextended to the bank retirees also. The recentextension of one more option to join the Pension
Scheme has brought great relief to number of retiredemployees and officers who are today covered by thePension Scheme and we are thankful to theGovernment for the same.
But the following issues of the bank retirees deservethe special attention of the Government and yoursympathetic consideration.
1. For the Government employees, on occasions ofsalary revision, pension revision is also givenand accordingly their pension is updated. But inthe case of bank retirees, the Pension remainsstatic as sanctioned at the time of theirretirement and does not undergo any change
thereafter. The periodical updation of pensionalong with salary revision of in-serviceemployees is very genuine and fair expectation,especially when the same is available to theGovernment employees.
2. Since their pension is fixed based on their pay atthe time of their retirement, there are currently5 different price index (600, 1148, 1684, 2288 &2836) on which DA is paid to the retireesdepending upon their period of retirement i.e. 1-1-86 to 31-10-92, 1-11-92 to 31-3-98, 1-4-98to 31-10-2002, 1-11-2002 to 31-10-2007 andfrom 1-11-2007 onwards. Their pension needs
to be adjusted and upgraded to a common priceindex by merging the DA upto that level . Thiswill bring in uniformity of indexing the Pension ofthe retirees.
3. In payment of DA, after introduction of 100%neutralization against price rise from 1.11-2002, those who have retired after this date arebeing given 100% neutralization for price risewhile the past retirees continue to be paid DA ona tapering basis with 4 slab formula of the earliersystem. There is a genuine need to extend
th
Grievances of Bank Retires
th
100% DA neutralization to all the retirees atleasfrom a prospective date.
4. While the in-service employees get DA variationon quarterly basis, for retirees, DA on Pension ispaid on half yearly basis. This needs to bechanged to quarterly basis for retirees also.
5. Under the 6 Pay Commission Report, there areimprovements in the rate of pension for veryaged senior citizens, in the commutation opension, eligibility service to get full pension, etcfor the Government pensioners and these needto be extended to the bank retirees too.
6. It is also experienced that the quantum of FamilyPension is very inadequate and this requires asympathetic approach from the Government torevise the same suitably.
7. Since the Pension Scheme was introduced in theBanks from 1.1.1986, the pre-1986 retirees arebeing given a Ex Gratia of Rs.300 per month +DA and their widows are being paid a fixedlumpsum Ex Gratia of Rs.1000 per monthThese pre-1986 retirees are aged 85 years andabove and are very few in number, may bearound 6000 persons in the entire banking
sector. Considering their age, ill-health, etc. theGovernment should kindly increase the Ex Gratiaamount.
8. There are number of grievances of the retirees athe Bank Level regarding delay in sanction oPension, delay in disbursements, etc. and henceGovernment / IBA should give proper guidelinesto all Banks to put in place a regulatedmechanism to redress these grievances. Thiswill help in avoiding / reducing litigations, etc. onthe part of the retirees.
9. Government has already advised the Banks toset apart a portion of the amount allocated for
Staff Welfare from the Net Profit of the Bankstowards ospitaliz the retirees. Still it is not beingimplemented properly. Hence Government mayconsider advising the Banks to set apart anuniform percentage of funds from out of theprofits towards Welfare Schemes for the retirees
10. The in-service employees are entitled tor eimbur sement of medic al expenses onoccasions of ospitalization but after retirementthe retirees are not covered by such facilities. Inthe context of ever increasing cost of medicat r ea t me n t, r e ti r ee s b e co m e e x tr e me l yvulnerable when they fall ill and hence some
uniform medical expenses reimbursemenscheme needs to be made available to them.These are some of the important grievances anddemands of the bank retirees. We request you totake a positive view of their grievances and advisenecessary steps to be taken by the Government / IBAin this regard.Thanking you,
Yours faithfully
GENERAL SECRETARY
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C.H.VENKATACHALAM
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Tamil Nadu Bank Retirees Federation Formed
Tamilnadu Bank Retirees
Federation,
AIBRF Central Committee meets
AIBRF
An adhoc committee of
representing bank retirees located in
the state of Tamilnadu and Union territory of
Puduchery has been formed with the objective of
bringing together all the bank retirees of this part of
the country on one platform so that we can work
effectively for achieving our long pending demands.
Sri.A.K.Narasimhulu,President CBRA has been
elected President,Sri.S.Velayoudam, GeneralSecretary AIIBRA has been elected Secretary and
Sri.B.Ramamurthy, Secretary UBRA has been
elected Treasurer of TNBRF.Sri.S.Srinivas Kumar,
General Secretary, BOBRA, Sri.S.V.Srinivasan,
General Secretary AICBRF, Sri.B.Ramji, Vice-
P re si de nt A IB RF a nd G en er al S ec re ta ry
IOBRA,Sri.A.Ramakrishna General Secretary
UCOBRA and Sri.T.Selvaraj, General Secretary
LVBRO were co-opted as Committee members. It
was decided to have the foundation Conference and
inauguration of TNBRF in September 2011 at
Chennai. As a prelude to the state level foundationconference, the Ad-hoc committee decided to
organize all bank retirees convention at important
centres of the state. This decision was implemented
and conventions were organized in Pondicherry on
08 -06-2011, Salem on 03-07-11, Coimbatore on
04-07-11, Trichy on 11-07-11 and Madurai on 26-
0 7- 11 . T he c on ve nt io ns w er e m ar ke d b y
enthusiastic and emotion packed participation of an
overwhelming number of retirees in the respective
centres. The success of the conventions have
convinced us that our movement has taken roots and
bound to scale new heights.
central Committee meeting is slated for 17
and 18 September and scheduled to be held in
Mangalore
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th
NO Income tax Return
T he C en tra l G ov er nm en t h as e xe mp te d
individuals whose total income for the relevantassessment year does not exceed
and consists of only income chargeableto income tax under the heads salaries/other
sources from the requirement of furnishing areturn of income under sub-section (1) of section
139 of Income tax Act for the Assessment year
2 01 1- 12 v id e N ot if ic at io n N o. 3 6/ 20 11[F. NO. 142/09/2011 (TPL)], Dt 23-6-2011.
five lakhs of
Rupees
Sri.G.Ravindra Kumar Gandhi takes
over as General Manager (Personnel)
Sri.G.Ravindra Kumar Gandhi
We wish him success in all his endeavours
has taken over
as General Manager(Personnel) from 6 April2011. With his abundant love for fellow IOBians
and respect and affection for retirees, Mr.Gandhihas come to the right place. We are happy to
welcome him to the new assignment
th
IOB crosses business mix ofRs 2,50,000 crores
We are thrilled to know that our bank has
crossed business mix of Rs2,50,000/- croresthis year ending 31-03-11 and Rs.2,70,000/- for
the quarte ending30-06-11. The credit for thiss p e c t a c u l a r a c h i e v e m e n t g o e s t o
Chairman and ManagingDirector for infusing the team spirit in the
IOBians and leading them past this goal post of
glory.
We extend our greetings to
and all the members of the IOB family
Sri.M.Narendra,
Sri.M.Narendra,
IOBs hat trick plus
History has been created in IOB
t hr ee o f o ur G en er al M an ag er s, i .eSri.M.S.Raghavan, Sri.S.Chandrasekaran (
) a n dSri.Satyanarayan Misra
One of our longcherished desires has come true.In the recent interview to select persons to beposted as Executive Directors in Public sector Banks,
whow a s G M P e r s on ne l t i l l r ec en t l y
have been short listed forselection and posting as Executive Directors invarious banks.All the three have enough years of service to moveup and get posted as Chairman and ManagingDirectorsThis historic achievement has become possible due
to the guidance provided and relentless work put inb y o ur C ha ir ma n a nd M an ag in g D ir ec toSri.M.Narendra. We Congratulate him on thisachievementWe Congratulate the trio Sri.M.S.RaghavanSri.S.Chandrasekaran and Sri.SatyanarayanMisra and wish them all success. Friends! Youhave made us proud. We appeal to you to besympathetic to the cause of retirees in thebanks where you will be serving.We are also elated to know that Smt.NupurMitra has been elevated to head Dena bank asthe Chairman and Managing Director and will bejoining the bank very soon. We congratulateher on this well deserved elevation
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Our membercelebrated the marriage of her daughter
within Chennai on
Smt. Sudha Santhosh Kumar
Sow. Nanditha Santosh Chi. AumbarishV. Athreya 24-01-11
Our member celebrated
t he m ar ri ag e o f h is d au gh te rwith in
Kothamangalam onOur Member celebratedthe marriage of his son
with inCoimbatore onOur Member celebrated themarriage of his daughterwith in Chennai on
Our Memberc e le br a te d t he m ar r ia ge o f h i s s o n
within Bangalore onOur Membercelebrated the marriage of his daughter
with inKolkata onOur membercelebrated the marriage of herd a u g h t e r w i t h
in Chennai on
Sri.P.Cheenu Mohan
S elvi.M. Meenakshi Selvan. M. Karthik
07-02-11Sri. S. Ramaswamy
Chi. R. LakshmiNarasimhan@Mohan Sow. Sukanya
16-02-2011Sri. R. Murugan
Sow. M AishwaryaChi. K. Arunkumar 23-02-
11Sri. S. Balachandran
Sow. Jyotsna21-03-11S ri . G ok ul C ha nd ra D as
Sow. Manisha Das Chi. Palash Kole07-03-11
Smt. Syamala Viswanathan
S o w . V a i s h n a v iChi. Vanjinathan@Karthik23-02-11
Chi. Venkatesh@Kannan
Our member celebratedthe marriage of his son with
in Chennai onOur member , celebrated themarriage of his daughter
in Eruvadi onour member celebrated the
marriage of his son withon 22-05-11 at Trichy
our membercelebrated the marriage of his daughter
with on 15-05-11 atChennai
formerly of West Mambalambranch and VRS 2000 retiree, celebrated his
our member celebrated
the marriage of his son within Chennai on
Our member celebratedthe marriage of his grandson Selvanwith on10-07-11 at DevakottaiO ur m em be rcelebrated the marriage of his son
withon 3 July 11 at Palakkad
Sri. S.KannappanChi. K.Ganesh
Sow. Gayathri 21-03-11Mr. Salahudeeen
Thaiyuba Nilofer with
Hassan Mohideen 8 May 2011Sri. P. Andiyappan,
Dr. A. Arun PrasathDr. R. MadhuvanthiSri. V.R. Balasubramanian,
Sow.Priya Chi.S.Praveen
Sri.Seshadri,
Shashtiabdapoorthi on 9 June 2011 inChennaiSri. R. Masilamani,
Chi. M. SrinivasSow R.Sasikala 29-06-11
Sri. N. LakshmananChellappan
Selvi. Mangaiyarkkarasi@Nithya
S ri . N .V . S ub ra m an i anChi.
Dr. N.S. Vishwanath Sow. N.V. Vidhya
th
th
rd
We greet all concerned on this happy occasion
PERSONAL
It was the wedding Priya and Hitesh. At the end ofthe wedding party, Piyas mother gave her a newlyopened bank saving passbook With Rs.1000 depositamount.Mother: Priya, take this passbook. Keep it as a recordof your marriage life. When theres something happyand memorable happened in your new life, put somemoney in. Write down what its about next to the line.
The more memorable the event is, the more moneyyou can put in. Ive done the first one for you today.Do the others with Hitesh. When you look back afteryears, you can know how much happiness youvehad.Priya shared this with Hitesh when getting home. Theyboth thought it was a great idea and were anxious toknow when the second deposit can be made.This was what they did after certain time:615. 7 Feb: Rs.100, first birthday celebration for
Hitesh after marriage616. 1 Mar: Rs.300, salary raise for Priya617. 20 Mar: Rs.200, vacation trip to Bali
618. 15 Apr: Rs.2000, Priya got pregnant619. 1 Jun: Rs.1000, Hitesh got promoted.... and so on...
However, after years, they started fighting andarguing for trivial things. They didnt talk much. They
of
Bank Pass Book
regretted that they had married the most nastypeople in the world.... no more love... One day Priyatalked to her Mother: Mom, we cant stand ianymore. We agree to divorce. I cant imagine how Idecided to marry this guy!!!Mother: Sure, girl, thats no big deal. Just dowhatever you want if you really cant stand it. Butbefore that, do one thing first. Remember the saving
passbook I gave you on your wedding day? Take outall money and spend it first. You shouldnt keep anyrecord of such a poor marriage.Priya thought it was true. So she went to the bank,waiting at the queue and planning to cancel theaccount. While she was waiting, she took a look at thepassbook record. She looked, and looked, andlooked. Then the memory of all the previous joy andhappiness just came up her mind. Her eyes were thenfilled with tears. She left and went home. When shewas at home, she handed the passbook to Hiteshasked him to spend the money before gettingdivorce.
The next day, Hitesh gave the passbook back to PriyaShe found a new deposit of Rs.5000. And a line next tothe record: This is the day I noticed how much Iveloved you thru out all these years. How muchhappiness youve brought me. They hugged and cried
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We are pleased to inform you that there has been an increase of 27 slabs of Dearness Relief payabfrom February 2011 to July 2011 pensioners, family pensioners and ex-gratia pensioners. The details ar
D.R Payable from August 2011 to January 2012
Retired on or after 01 01 86but before 01 11 92 / 01 07 93
Retired on or after 01 11 92 /01 07 93 but Before 31 03 98
Retired on or after 01 04 98but before31 10 2002
Over CPI 600 Slabs 919 Over CPI 1148 Slabs 782 Over CPI 1684 Slabs 648
Basic Pension Basic Pension Basic PensionAmount Amount Amount
273.70% 155.52%Upto Rs. 2400 Upto Rs. 3550615.73%Upto Rs. 1250
Rs.1251 -Rs.2000
Rs.2401 -Rs.3850
Rs.3551-Rs.5650
Rs.7696.62Plus 505.45%in excess ofRs.1250/-
Rs.6568.80Plus 226.78%in excess ofRs.2400/-
Rs.5520.96Plus 129.60%in excess ofRs.3550/-
Rs.2001 -Rs.2130
Rs.3851 -Rs.4100
Rs.5651-Rs.6010
Rs.11487.49Plus 303.27%in excess ofRs.2000.00
Rs.9857.11Plus 132.94%in excess ofRs.3850/-
Rs.8242.56Plus 77.76%in excess ofRs.5650/-
AboveRs.2130
Above
Rs.4100
Above
Rs.6010
Rs.11881.74Plus 156.23%in excess ofRs.2130/-
Rs.10189.46Plus 70.38%in excess ofRs.4100/-
Rs.8522.49Plus 38.88%in excess ofRs.6010/-
Retired on or after 01-11-2002 but before 1-11-2007 Retired on or after 01 11 2007
Over CPI 2288 Slabs 497 Over CPI 2836 Slabs 360
Rate of
Dearness Relief
89.46 % of entireBasic Pension
54% of entireBasic Pension
RATE OF DEARNESS RELIEF PAYABLE ON EX-GRATIA TO
EMPLOYESS RETIRED PRIOR TO 01 01 1986 and their spouses
SLABS RATE TOTAL AMOUNT PAYABLE
919 615.73% on Rs.300 Rs.300/- plus Rs.1847.19 - i.e. Rs.2147.19 + Rs.1000 = 3147.19
Rate of
Dearness Relief
Sri.R.V.Srinivasan,
Sri.B.Ramaswamy Iyer
25-01-11
S.N.Soni, 22-02-11
Sri.Sridhar 15-
03-11
Sri.Lalit Mohan Paul
on25-04-11
Sri.M.C.Mahadevan,
Sri.S.Packiriswamy
former E.C.member of IOBRA
expired on05-06-2011 at Kovilpatti
our member expired in
Nagercoil on
Retired Executive Director of our bankdied in Lucknow on
our member expired in Chennai on
, our member expired in
Kolkata
former Deputy General
Manager, expired in Chennai on 30-04-11
our member expired on 09-
05-11 at Chennai
Sri.S.S.Sundaram
K. Renganathan, VRS Retiree IOB,
R.G. Ramani, Retd. Officer IOB,
Sri.P.Balakrishnan
Sri.P.Vellingiri,
our member expired in Chenna
on 02-07-11
expired in
Chennai
expired inChennai
our member expired in Trichy
on 27-06-11
our active member expired In
coimbatore on 19 July 2011
We pay our homage to the departed souls and offerour heartfelt condolences to the bereaved family
members.
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OBITUARY
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HC: Dont make retirees run pillar-to-post
for benefits
Jaipur, May 4 (PTI) The Rajasthan High Court has
ospitaliz the bureaucratic approach of government
officials in releasing retirement benefits. The single
judge bench said the benefits must be given timely,
without making the retirees run from pillar to post.Justice Ajay Rastogi in a detailed order said the
typical bureaucratic mindset of government officials
needs to change.The order came on a writ petition
filed by Shakuntla Sharma, wife of a former Chief
Engineer-cum-additional secretary who retired from
the service in 1969. The officer stopped getting
pension after September, 1971 without any reason.
The government failed to show why the pension has
been stopped and only lame excuses have been
given which shows that the government officials who
are in service have no respect for retired persons,observed Justice Rastogi. The court added a note of
caution, observing, those in service today must
remember that they will also retire in time to
come...this court records its displeasure with this
bureaucratic approach of not granting due benefits.
The court directed the state government to release
the pension of the deceased husband of the
petitioner from October 1971 with an interest of 9
per cent per annum.
of Pension Regulations states
that . The amount of Basic Pension shall be
calculated at 50% of the average emoluments
In the VII Bipartite settlement, a new definition of
was introduced,
in contravention of Regulation 35
This resulted in reducing the Basic Pension payable
to the pensioners from 50% of basic pay to 41% of
Basic Pay.This illegality was sought to be rectified in the VIII
Bipartite settlement which restored and re fixed
Basic pension of retirees to 50% of the actual
average emoluments drawn by the retirees.
The correction of pension aberration and restoration
of 50%of last drawn pay as Basic pension to post 01-
4-98and future retirees has been given prospective
effect from 1-5-05. As it is only a correction of an
Historic Judgment by Madras High Court: Good
n ew s f or m em be rs r et ir ed b et we en01-04-1998 and 2002 including VRS 2000
retirees
Regulation 35 (2)
Pay for the purpose of Pension
earlier mistake, this has to be given effect from the
date of retirement of the pensioner concerned and
the difference in commutation of pension also has to
be paid.
Excerpts from the judgment are published herebelow
Retirees from various banks had taken
up the matter to various High Courts.
In one of the Writ petitions filed by a retiree of
Bank of Baroda The Division Bench of MadrasHigh Court had decreed that the aberration be
corrected with retrospective effect from the
date of retirement and the retirees be paid
arrears and difference in commutation amount
due to them.
Com. C R C appeared for the plaintiff. There are
some more WPs filed by Comrades from other
banks on the same ground. We expect similar
j u d g m e n t o n t h e o t h e r c a s e s t o o .
We Congratulate Com. C.R C for obtaining this
path breaking Judgment
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 28.6.2011
CORAM:
THE HONOURABLE MR.JUSTICE ELIPE DHARMA RAO
AND
THE HONOURABLE MR.JUSTICE K.K.SASIDHARAN
Writ Appeal No.1209 of 2007
1.G.Palani and others ... Appellants
Vs.
1.Bank of Baroda,2.The Competent Authority for Pension Regulations,
Bank of Baroda,3.Union of India, represented by its Secretary to
the Banking Division, Ministry of Finance,New Delhi-110001. ... Respondents
* * *Writ Appeal preferred under clause 15 of the Letters
Patent, as against the order of the learned single Judgedated8.8.2007 made in W.P.No.8945 of 2001.
* * *For appellants : Mr.AL.Somayaji,
Senior Counsel forMr.C.R.Chandrasekaran
For R.1 & R.2 : Mr.A.P.S.Kasturi Rangan forM/s.Sampathkumar andAssociates
* * *
LEGAL CORNER
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JUDGMENT
ELIPE DHARMA RAO, J.
The appellants are the retired employees of the
respondents 1 and 2/Bank of Baroda between 30.11.1998
and 31.8.2000, either on superannuation or on voluntary
retirement.
2. Originally, they have initiated these writ proceedings
praying to issue a writ of mandamus directing the
second respondent to pay the difference in basic
pension and additional pension and commutation ofpension with interest at a rate to be determined by
this Court, in terms of the Bank of Baroda
(Employees) Pension Regulations, 1995 (hereinafter
referred to as the Regulations).
3. After the respondents brought in an amendment to
the Regulations in April, 2003, by adding sub-clause
(c) after 2(S)(b) with retrospective effect from
1.4.1998, the appellants have filed a petition to
amend the prayer before the learned single Judge and
on the same having been allowed, the prayer has
been amended to one of a writ of Declaration, to
declare that sub-clause (c) of clause (S) of
Regulation 2 of Bank of Baroda (Employees) PensionRegulations, 1995 is null and void and direct the
second respondent to pay the difference in basic
pension and additional pension and commutation of
pension with interest at a rate to be determined by
this Court, in terms of the Bank of Baroda
(Employees) Pension Regulations, 1995'.
4. From the materials placed on record, it is seen that
Pension scheme was first introduced in 1995 in Banks
and thereafter by virtue of the Joint Note signed by
the Indian Banks Association with various Bank
Officers Unions on 14.12.1999, on salary revis