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Tuesday, November 21, 2017

Historic Updation Of Pension Amount

Dear Friends,

              Copy of the circular dated 21.11.2017 issued by AIBRF on declaration of IBA as Public Authority under RTI Act 2005 is furnished here below for information  of all:

To the office Bearers/ Central Committee Members/ State Body Chiefs

Dear Comrades

Re IBA declared Public Authority under RTI Act,2005 by
The Central Information Commissioner, New Delhi
We are happy to inform you that as per the order of Central Information
Commissioner dated 13.11.2017, Indian Banks’ Association has been declared Public
Authority under RTI Act ,2005. IBA has been asked to appoint CPIO under the act
within 30 days from the order from the information can be obtained by the public.
2. It is big victory for the work force including retirees. So far IBA has been denying
the information to the public including retirees under the pretext that it is not public
authority and therefore not covered under RTI Act. This is historical judgement of CIC
and will empower the retirees in obtaining the required information and thereby
making IBA accountable towards retiree issues.
3. We congratulate petitioners for successfully fighting this legal battle and
empowering work force of this country in banking industry.
4. We enclose copy of the order for your ready reference.
With Warm Regards.
Yours Sincerely,


*Reduction of GST on Health Insurance Premium*

Shri S.C.Jain,
General Secretary,
Dear Sir,                                              GST on Health Insurance Premium
At our recently held CC at Ujjain, we had discussed measures to approach the authorities on reducing the GST on health Insurance premium, especially for Senior citizens in India. The increase in the health premium has become exorbitant for the Bank retirees, as also for senior citizens of India. 
We are attaching a letter addressed to the Prime Minister,  written by the General Insurance Pensioners All India Federation, making out a case for reduction in GST on Health Insurance premium. It is pertinent to point out the sentence, among other well stated points of arguements: 
"While health Care is out of GST, Health Insurance is subject to GST at the normal rate of 18%. The premium in health insurance is going up due to increase in the claims in recent years."

We feel that in the interests of Bank retirees, as well as the general senior citizens of India, we too should state our case to the government of India for reduction in Health Insurance Premium.
We hope this suggestion will meet with your approval.
With Regards

Jt,Gen.Sec., AIUBRF

Massive Rise In Pension of Private Sector Employees after Historic Order Given By Supreme court In august 2016
This refers to news published today regarding 1200% rise in pension of some retired employees who have been fighting his case in court for last four years ---

In his 37-year career Praveen Kohli hadn't got the kind of hike that he received four years after he retired as a general manager with Haryana Tourism Corporation. 

On November 1 this year, Kohli's pension rose by nearly 1200%-from Rs 2,372 to Rs 30,592 per month.

The windfall was courtesy a Supreme Court order of October 2016 that directed the EPFO to revise the pension of 12 petitioners under the employee pension scheme (EPS).The pension scheme, which is part of EPF, has over 5 crore members. Every employee in the organised sector contributes 12% of basic salary and dearness allowance to EPF. The employer makes a matching contribution. Of the employer's contribution, 8.33% goes to the EPS. When people withdraw their EPF after a job switch or during unemployment, the EPS is not given out. It's payable only after superannuation.

There is also a ceiling on EPS contributions. The current cap on salary (basic + DA) is Rs 15,000 per month so, the maximum one can contribute to the EPS is 8.33% of Rs 15,000, which is Rs 1,250 a month.

Between July 2001 and September 2014, the EPS salary cap was Rs 6,500 a month, which translated to a maximum contribution of Rs 541.4 a month. Prior to 2001, the ceiling was Rs 5,000, which yielded a maximum contribution of Rs 416.5.

So how did 62-year-old Kohli get a pension of over Rs 30,000 a month with such a meagre contribution to the pension fund?
Cases were filed against EPFO in various high courts. By 2016 all except one high court ruled against EPFO stating that the six-month deadline was arbitrary and the employees must be allowed to raise their pension contribution whenever they wish to. The case went to Supreme Court which, in two separate rulings in 2016, ruled in favour of employees' right to raise their contributions to pension fund without imposing any cut-off date for eligibility.

Following is link to Newspaper 
Link to Times of India
Period Of Service As ‘Work-Charged Employee Will Be Treated As ‘Qualifying Service’ For Pension-Supreme Court [Read Judgment] BY: MANU SEBASTIAN SEPTEMBER 16, 2017 11:22 AM...
In a judgment which could give major relief to fourth class employees in government department rendering services as work charged or officiating or temporary, the Supreme Court has held that period of service as ‘work charged’ will also be counted as qualifying service for pensionary benefits.

The appellants were employees in the service of Uttarakhand Governmnet.  Rule 370 of Uttarakhand Civil Service Regulation provided that following services will not count for pension :- Periods of temporary or officiating service in a non-pensionable establishment Periods of service in a work-charged establishment Periods of service in a post paid from contingencies. A pari materia provision contained in Rule 3.17(ii) of the Punjab Civil Service Rules was struck down by a Full Bench of Punjab & H...

Read more at:

Right to pension cannot be taken away pending proceedings: Apex Court-Hindu Business Line

20 august 2013
Observing that gratuity and pension are hard earned benefits of an employee and right to receive pension is in the nature of “property”, the Supreme Court has held that this right cannot be taken away from a government employee pending departmental or criminal proceedings.
“It is an accepted position that gratuity and pension are not the bounties. An employee earns these benefits by dint of his long, continuous, faithful and un-blemished service. It is thus hard earned benefit which accrues to an employee and is in the nature of “property”.
“This right to property cannot be taken away without the due process of law as per the provisions of Article 300 A of the Constitution of India,” a bench of justices K.S Radhakrishnan and A.K Sikri said.
The court passed the judgement while dismissing the appeal of Jharkhand government against the state’s high court order directing it to release the withheld dues of its retired employee Jitendra Kumar Srivastava, who had criminal cases pending against him.
“We are of the opinion that the right of the petitioner (Srivastava) to receive pension is property under Article 31(1) (of the Constitution) and by a mere executive order the State had no power to withhold the same.
“The order dated June 12, 1968 denying the petitioner right to receive pension affects the fundamental right of the petitioner under Articles 19(1)(f) and 31(1)of Constitution, and as such the writ petition under Article 32 is maintainable,” the bench said.
It also said “a person cannot be deprived of this pension without the authority of law, which is the Constitutional mandate enshrined in Article 300 A of the Constitution. It follows that attempt of the appellant to take away a part of pension or gratuity or even leave encashment without any statutory provision and under the umbrage of administrative instruction cannot be countenanced.”
The state government had moved the apex court challenging the October 31, 2007 order of a division bench of the high court which had held that under the Bihar Pension Rules, the government does not have power to withhold gratuity and pension during the pendency of departmental or criminal proceeding and or withhold leave encashment at any stage either prior to or after conclusion of the proceeding.
The order of the high court had come on a writ petition filed by the petitioner, who had retired from the post of Artificial Insemination Officer, Ranchi in 2002, seeking release of part of his pension and other dues.
Read full news in following link

Fantastic Appeal For Five Days Week By Bank Unions

(Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi)
State Bank of India Officers’ Association
04th Floor, SBI Administrative Unit, No. 86, Rajaji Salai, Chennai- 600 001
Phone: 044-25227170 Tel/Fax 044 25261013
Circular No. 2017/63 Date:21.11.2017
To All Affiliates/State Units
Dear Comrades,
Forwarding the Note submitted to IBA by the 4 Officers Organisations on Five Day Week in addition to the Charter of Demands . the contents of which are self explicit. Kindly discuss. Please get articles written in Newspapers supporting our cause
With greetings,
General Secretary
Date: 27th October, 2017
The Xth Bipartite settlement between IBA and member banks made history with the introduction of holidays on second and fourth Saturdays, thereby marking a new beginning in the working of banking system in India. It was duly approved by the RBI, Government and brought into practice subsequently through an executive order.
The above change was agreed upon against the demand for five day work week for banks which is being practiced all over the world. There was a promise of a review after 6 months of implementation so that 5 day week could be brought in but it didn’t happen. However the system is working well and proves that 5 day week will be a win win situation for all. Again, in our country the Central Government, majority of the State Governments, the RBI, and some of the foreign banks functioning in our country and majority of the public sector undertaking in the financial sector such as GIC are also following the five day work week pattern. Hence, we reiterate our demand for introduction of the five day week in the banking industry immediately, especially when the way the banks are operating have under gone a sea change.
Towards achieving the government’s avowed aim of Digital Banking the banks have gone on an override to establish and increase the number of Automated Teller Machines, Cash Deposit Machines, Pass Book Entry Machines, Coin Dispensers, Cheque Truncation System, Electronic Clearing System, Immediate Payment System, Mobile Banking solution, Internet Banking and so on. The banks are vigorously campaigning to increase the usage of these alternative channels of banking among the user public by making them available everywhere and making them user friendly. This has resulted in multifold increase in transactions through these channels. We furnish below the figures compiled by the RBI, a detailed report of the same is provided in Annexure I.
1. No. of ATMs onsite - 1,09,232 (on site)
- 98,879 (off site)
2. No. of Point of Sale Machines - 28,82,422
3. No. of Credit Cards - 3,26,45,679
4. No. of Debit Cards - 81,08,68,624
5. Internet Banking (Users) - 20.5 million
6. Mobile Banking - 78.18 million
7. No. of Business Correspondents - 2.53 lacs
* (From ATM & Card Statistics for August 2017 from RBI website)
The numbers mentioned above clearly indicate the amount of penetration the banks have made in popularising the Digital Mode of transaction through various methods. A recent survey has proved this point as according to RBI data debit card usage at POs terminals has doubled to 265 million in Aug 2017 from 131 million last year. (TOI 24.10.2017)
Hence, the banks have successfully transformed the way the banking was done and made it customer friendly and also made available the alternative mode for cash deposits machines available round the clock for customers and small traders. This has effectively paved the way for moving to five day work week to further control the overheads by making saving in electricity, transportation and other expenditure.
In this regard, we would like to bring forth the latest trend of gender ratio obtaining in the industry in general and banking sector in particular. The percentage of women employees stood at 6 to 7 per cent for long, has steadily risen to about 20 percent as at present. Due to large number of retirements due in the next two to three years and with the percentage of women entering through recruitment, would in all probability make it to 35 to 40 per cent of the total work force in the banking industry. Hence, this would pose a challenge to the social fabric and general well being of the people working in the banking industry as women are expected to strike a balance between family life and professional career. Hence, it would be a boon for the women if five day week is introduced as two holidays per week would give them required rest and time to relax and plan for the week ahead. It need not be stressed that the growth of many sectors in India and the country’s growth depends on a strong family. The general concern of the employer in respect of lady employees in respect of increased incidence of leave would be addressed to a large extant.
Today RBI works only for five days. Central Government employees work only for five days. And the same practice is followed by most of the State Governments as well. Almost all the IT Sector Companies like Infosys, Wipro, CTS, TCS, etc. work only for five days and so does the International financial system. Reduction of stress level amongst the employees is the need of the hour in today's scenario and many study reports bear the testimony that there is improvement in performance after adequate rest and family get together.

To a query raised in the Parliament regarding rumours that the Prime Minister wants to introduce six days week, the Minister of State for Personal Public Grievances and Pensions Mr. Jitendra Singh informed the Lok Sabha in a written reply that there is no proposal to change the present five day week for the employees of Central Government Ministries and Departments. Similarly the Cabinet Secretary, Shri Ajith Seth replied to Shri Shiva Gopal Mishra, Staff Secretary that there is no such proposal.
As we are aware that a bank holiday in India is a public holiday which is declared specially for the Banks and other Financial Institutions. All public holidays are not classified as Bank Holidays. Bank Holidays are declared by Central/State Governments/ Union Territory under the Negotiable Instruments (NI) Act, 1881. India is a multicultural and multi religious society and celebrates holidays and festivals of various religions. So, in addition to the national holidays, many states and regions have local festivals depending on religious and linguistic demographics.
The Bank employees do not enjoy all the festival holidays as their counterparts in other govt. organizations do. Moreover, as we have seen that the bank employees and officers are very hard pressed; like for every govt. sponsored schemes launched by the govt., for every emergency like situation (as the present demonetization case), it is the bank employees and officers who are entrusted with the responsibility to handle the situation. Banking sector is reckoned as a hub and barometer of the financial system. As a pillar of the economy, this sector plays a predominant role in the economic development of the country
There are already companies which are trying four day work with three days off in other countries and billionaires like Carl Simon and Richard Bronson have suggested three days working day. Many studies have proved that the productivity increases if the employees/officers are provided with 2 day weekly off. J M Keynes had projected that with advancement of technology, we will have 15 hour week by 2030. Jack Maa of Alibab has suggested 4 day week already. Five day week was first introduced by Henry Ford in the last century itself.
Let us further analyse:
The demand for five (5) day a week in the Banking Sector is a priority. It is based on scientific practices all over the globe considering health of the employees, productivity and environmental concerns. We put forward the following which explains and justifies the need. The ILO has passed many conventions on this issue, some of which are reproduced below:
Article 19
C047 - Forty-Hour Week Convention, 1935 (No. 47)
Convention concerning the Reduction of Hours of Work to Forty a Week (Entry into force: 23 Jun 1957) Adoption: Geneva, 19th ILC session (22 Jun 1935) - Status: Instrument with interim status (Technical Convention).
The General Conference of the International Labour Organisation, Having met at Geneva in its Nineteenth Session on 4 June 1935, Considering that the question of the reduction of hours of work is the sixth item on the agenda of the Session; Considering that unemployment has become so widespread and long continued that there are at the present time many millions of workers throughout the world suffering hardship and privation for which they are not themselves responsible and from which they are justly entitled to be relieved; Considering that it is desirable that workers should as far as practicable be enabled to share in the benefits of the rapid technical progress which is a characteristic of modern industry; and Considering that in pursuance of the Resolutions adopted by the Eighteenth and Nineteenth Sessions of the International Labour Conference it is necessary that a continuous effort should be made to reduce hours of work in all forms of employment to such extent as is possible; adopts this twenty-second day of June of the year one thousand nine hundred and thirty-five the following Convention, which may be cited as the Forty-Hour Week Convention, 1935:
Article 1
Each Member of the International Labour Organisation which ratifies this Convention declares its approval of:
the principle of a forty-hour week applied in such a manner that the standard of living is not reduced in consequence; and
the taking or facilitating of such measures as may be judged appropriate to secure this end; and
undertakes to apply this principle to classes of employment in accordance with the detailed provision to be prescribed by such separate Conventions as are ratified by that Member.
Article 8
How is work during the weekend regulated?
ILO Weekly Rest Conventions No. 14 (1921) and No. 106 (1957) require that
each worker have at least 24 hours of uninterrupted rest every seven days. Whenever possible, the rest day(s) should be simultaneous for all employees of an undertaking and correspond with the traditions and customs of the country. As noted above, Arab countries often choose the Friday, instead of the Sunday, as the rest day for the week.
In China and Hungary, two days off are laid down in national laws.
. “Article 42 of the constitution directs the State to make a provision for securing just and humane conditions of work (at work places). Article 43 of the constitution directs the State to secure conditions of work ensuring a decent standard of life and full enjoyment of leisure and social and culture opportunities by making a suitable legislation or in any other way. Thus the State is under an obligation to make it possible for the employees to work in genuine and human conditions of work.”
Upholding the spirit of article 12 of the Constitution the Hon’ble Supreme Court of India has also passed a number of decisions that Public Corporations and Undertakings fall within the inclusive deļ¬nition of 'State'.
Now, let us look at some legal rights. The Factories Act provides provision on weekly rest. Workers are generally entitled to at least 24 hours of weekly rest on the first day of the week, i.e., Sunday. The weekly rest period is reckoned as a paid time. Workers may be required to work on weekly holiday; in this case, he/she is entitled to the substitute holiday three days before or after the usual weekly holiday. Even in the case of holiday substitution, workers must be given a weekly holiday in every 10 days. If an organization is exempted from the provision related to weekly holiday and workers are not granted their weekly holidays, an equal number of compensatory holidays have to be granted within 2 months. The Weekly Holidays Act, Shops and Establishments Act, etc. also state in the same tune for the workers and the employees.
Although the Bank Officers do not come under the purview of the Regulations & Acts which make the weekly off compulsory like Factories Act, Weekly Holidays Act, Shops and Establishments Act, etc, the Articles enshrined in the Human Rights is applicable to one and all the people. The Article 24 of Human Rights deals with Right to Rest for each and every human being. They are commonly understood as inalienable fundamental right "to which a person is inherently entitled simply because she or he is a human being," and which are "inherent in all human beings" regardless of their nation, location, language, religion, ethnic origin, their employment agreement and service rule or any other status. They are applicable everywhere and at every time in the sense of being universal and egalitarian in the sense of being the same for everyone.
Following are the benefits of a 5 day work week:
Reduced fuel costs: Employees would have to endure the dreaded commute one less day each week, thereby saving money at the pump with reduced fuel consumption.
Decreased absenteeism: On a six-day schedule, employees are forced to cram their one day off with personal errands, chores, games, and social outings. By the time Monday comes around, there hasn't been a minute of rest and employees are tired. So they call out of work. This wouldn't happen so frequently if employees had a second day to accomplish the work they have to do outside of office.
Increased productivity: It's a well-established principle of productivity that workers become less efficient where no deadline looms. That's why we're more efficient in the week before vacation—we know we have to get it done by the time we leave. The same idea is transferable to a shortened workweek. Employees are least productive on Saturdays so why not just eliminate them altogether?
Improved job satisfaction and morale: Satisfaction with what goes on in the workplace may be tied to what goes on outside of the workplace. Employees who spend more time with family and friends, who have the flexibility of two days off, will return to work refreshed.
Reduced personnel turnover: Not surprisingly, #4 leads to #5. Happier employees tend to leave less often. If they like the job, they're more likely to stick around.
Reduced energy costs: By closing for two, instead of one day each week, Banks stand to reduce substantial energy costs. These costs can be significant. Carbon emission will reduced substantially helping the nation, as a whole.

Reduced traffic congestion: This potential effect may be seen largely on Saturday, which is the day most employers are converting to a non-working day.

Improved work-life balance: As a result of the added day, employees who work a five-day week will have more time to spend with their families and friends
Sd/- Sd/- Sd/- Sd/-

Annexure - I
Let us have a look at the working condition prevailing in some of the developed countries around the world for the better understanding of the issue. The maximum full-time working hours in Japan are eight hours per day and 40 hours per week. If an employee works six to eight hours in a day, they are entitled to a 45-minute break; if an employee works eight hours in a day; they are entitled to a one-hour break. An employee is entitled to one holiday per week unless they otherwise receive four or more holidays within every period of four weeks. Overtime pay must be provided for any work over eight hours per day, over 40 hours per week or on holidays. It is to be noted that there is no real difference between the employees and officers in Japanese working environment and all enjoy the same rights with regard to the restriction on working hours and weekly offs.

The only difference lies in the classification of employees; one is seatrain, which can literally be translated as real employees and the second is a shokutaku, which is a contract employee. The major Japanese banks are reviewing their working patterns and introducing such systems as telecommuting and shorter working hours to help care givers and parents with young children get the time they need at home. In Japan, one would be encouraged if he or she is caught napping at work. They have actually coined a word for it “inemuri,” which means to be asleep while present at work. While sleeping at work, one earns the tag of being inefficient in other parts of the world, but Japanese believe it to be sign of hard work. The only governing rule for inemuri is that it requires the person to remain upright while dozing off.

Now, let us have a look at the working condition prevailing in some of the developed countries around the world for the better understanding of the issue. The maximum full-time working hours in Japan are eight hours per day and 40 hours per week. If an employee works six to eight hours in a day, they are entitled to a 45-minute break; if an employee works eight hours in a day; they are entitled to a one-hour break. An employee is entitled to one holiday per week unless they otherwise receive four or more holidays within every period of four weeks. Overtime pay must be provided for any work over eight hours per day, over 40 hours per week or on holidays. It is to be noted that there is no real difference between the employees and officers in Japanese working environment and all enjoy the same rights with regard to the restriction on working hours and weekly offs.

The only difference lies in the classification of employees; one is seatrain, which can literally be translated as real employees and the second is a shokutaku, which is a contract employee. The major Japanese banks are reviewing their working patterns and introducing such systems as telecommuting and shorter working hours to help care givers and parents with young children get the time they need at home. SBI, being the largest commercial bank in the country and one of the best employers should also think in the same pattern and implement some employee and officer friendly techniques for the benefits of both the parties. In Japan, one would be encouraged if he or she is caught napping at work. They have actually coined a word for it “inemuri,” which means to be asleep while present at work. While sleeping at work, one earns the tag of being inefficient in other parts of the world, but Japanese believe it to be sign of hard work. The only governing rule for inemuri is that it requires the person to remain upright while dozing off.

Now, let’s have a look at the United States. Who gave the Americans the 5 day, 8 hours per day, work week? Was it really the unions, was it really higher regulations? No, the historical answer is that it was Heny Ford who gave them the 5 day, 8 hours per day, work week. Ford was tired of continuously losing good employees, he was trying to increase employee retention and at the same time increase profits, so he basically doubled wages and implemented a 5-day work week, and in the process effectively reinvented the modern weekend. It is Henry Ford who is widely credited with contributing to the creation of a middle class in the United States. In addition, if we look at why Henry Ford did this, we could see that his reasons had nothing to do with charity, and everything to do with increasing profits and dealing with the forces of competition. The result was very obvious; his Company Ford sold millions of cars and he became a world-famous company head. Only a satisfied employee or officer can bring satisfactory business for the company he works in; nothing else could. A company cannot flourish unless the people who work for it are satisfied and can work with a peaceful mind. We are afraid that the plight of the officers in our bank is very miserable these days which can prove to be very counterproductive for the bank lest the situation is dealt with promptly.
While we all have major travel goals, fulfilling them is not that easy given the working hours routine. But in Belgium, leaving your job to travel the world is an employee’s right. For the best part- the employee will not only be paid his full salary while on a career break, but also get a confirmation from the employer that he will be taken back on the job. It sounds too good to be true but it really exists. Portugal is considered to be employees’ heaven. Employers in Portugal cannot dismiss their employees as there is no termination period in the country’s employment law. Further, if an employer does not want to retain an employee, he needs to offer a decent resignation package, beg the employee to leave and hope that the employees will not make a fuss about it. A proposed bill in the French National Assembly gives employees the right to disconnect and limit the use of digital tools as a way to ensure rest periods and vacations as well respect time spent for a life outside of work, which includes family. This proposed law is designed to protect the employees’ health and well-being and empower them with the right to be away from work related emails or messages at least 11 hours a day.

In our bank, on holidays even if the officers do not need to attend the office, they have to remain connected with their bosses through WhatsApp and failing to do that earn abuses for the officers which is very culpabale. The possible best work law ever could be found in Austria; after working for six months, every employee is entitled to an annual paid vacation amounting to 30 working days. In a bid to take employee-friendly laws to another level, UAE has taken the initiative to introduce a ‘reading break’ law. This allows employees to catch up with their reading for a couple of hours during working hours.

In our organization, there is no scope for self development and knowledge development since the officers have to toil in everyday for more than 10 hours on an average. More interestingly, The European Court of Justice has recently ruled that “Travelling to work place is also work.” The law came into being to not only protect the health and safety of the employees but also from being exploited by their employers. The rule reinstates that no employee should be forced to work for more than 48 hours a week.
The Chinese government stipulates a five-day workweek and the business hour is regulated as no more than 8 hours a day and no more than 44 hours a week. The regular working time generally is from Monday to Friday, with Saturday and Sunday off. The Chinese people usually work between 08:00 and 18:00 each day, with a lunch break from 12:00 to 14:00. The Chinese never work on the weekends and still continue to develop with such a rapid pace. It is high time we start giving the due importance to the compulsory weekly off to the officers and employees for the mutual benefits of the both our bank and the officers. It is anybody’s guess that a discontented and squeezed employee can never bring laurels either for him or for the organization he works in which results in erosion for both the parties. It is time we learn the techniques of employee management from these advanced countries for our own benefits.
The Americans always believe that a weekly holiday in between the busy working days helps an employee to think and plan which can have a positive impact on an individual’s creativity. Ideas need inspiration and a day of rest and time spent with family can promote this. A weekly holiday can have a significant impact on an employee’s sense of wellbeing. A pleasurable experience beyond the weekly routine of work can promote positive feelings and enhance an employee’s work life balance. Rested and energized employees, who feel good about themselves, are likely to be more productive once they return to work from a weekend holiday.
Today, our officers’ stress is a real phenomenon and it is directly associated with their job satisfaction level and the resultant output for the bank. Some important factors associated with their stress are excess work load, the prevalent working condition, role conflict, role ambiguity, virtual absence of weekly off, relationship with the superiors which ultimately results in lack of sense of belongingness in the Bank. This lack of belongingness towards the organization directly affects the productivity of the officers which in turn adversely affects the bank’s bottom-line.
Now a day's managing work life balance is a challenge for both employers and employees particularly in service industry where employees are loaded with work at workplace and at the same time they have to balance their personal life. Work life and personal life are two sides of the same coin. Creating and managing a balance between the work and personal life is considered to be a work life balance issue. Increasing work pressure, globalization and technological advancement has an impact on balancing professional life and personal life. Greenhaus et al. (2003) operationalised the concept of work-family balance as comprising three components. These are :
Time balance, whereby equal amounts of time are devoted to work and family;
Involvement balance, whereby an equal level of psychological involvement in work and family roles exists; and
Satisfaction balance, whereby an equal level of satisfaction is derived from work and family roles
The best work-life balance is different for each of us because we all have different priorities and different lives, a good working definition of Work-Life Balance is :
Meaningful daily Achievement and Enjoyment in each of the four life quadrants:
“Family, Friends, Self and Work”
Work–life balance is a concept which includes proper prioritizing between "work (career and ambition) and "lifestyle“(health, pleasure, leisure, family and spiritual development/ meditation) Work-life balance does not mean that there must be equal balance across all aspects of an individual's life. The best work-life balance will be different for each person. There is no one size fits all in work-life balance.
All over the world the organizations are demanding more and more from their employees; parallel to this, these are focusing more on the motivation and recognitions of the employees to enhance productivity. Present workforce consists of many working fathers and mothers; whose aim is to find a balance between work and family roles is a matter of concern for them and the organizations.
Almost every country in the world is following the five day week system.
Annexure – II
Brief Summary of some of the research work done “ Work Life Balance”
Modi, Chima (2011), examined the extent to which WorkLife Balance policies and practices are a reality for employees in Banking Sector. The study also examined if there were any barriers and reasons for mutual adoption of Work life balance policies in Nigerian Banking sector. The study suggested an urgent need to communicate clearly about the Work Life Balance policies and practices to its employees, to raise awareness further and improve the knowledge and understanding of relevant policies.
Lalitha Kumari (2012) in her study emphasized that eachof the work life Balance factors on its own is a salient predictor of job satisfaction and there is significant gap between male and female respondents with job satisfaction with reference to various factors of Work life balance. The result of the study had practical significance for human resource managers of especially banks to improve staff commitments and productivity along with designing recruitment and retention of employees.
Vartha Raj & Vasantha (2012) studied the Work Lifebalance of working women in service sector. They specified that the ultimate performance of its employees which in turn depends on numerous factors. The relationship between personnel and professional life can be achieved through emotional intelligence.. Better emotion management is necessary in order to accomplish objective of life.
Shariq Abbas, Vandana Premi (2011), tried to look at theawareness, attitude perceived importance and formalization of Work Life Balance policies in Banking sector, both Private and Public sector banks. Findings suggest that employees perceive flexible working arrangements as most important Work Life balance policy; nonetheless say the perceptions towards the implementation of Work life balance in their organizations are negative. The study also revealed that the extent formalization of work life balance policies in Public and Private sector banks had no written documents for the same in both the systems.
Carmeli (2013), examined the extent of which seniormanagers with high emotional intelligence, employed in public sector organizations develop positive attitudes behaviour & outcomes. Results show senior managers who had high emotional intelligence were more likely to be effectively control work-family conflict than those who have low emotional intelligence.
Alan Felstead (2007) in his research on “opportunities towork at home in the context of Work-Life Balance” finds work-life balance & Family friendly employment is much in vogue among politicians and business leaders.
Skinner and Pockock (2008) investigated the relationshipbetween Workload, work schedule control, work hours and their fit with preferences and work life conflict among full time employee N=887). It was found that the strongest association with work life conflict was demonstrated by work overload followed by work schedule control and work hours fit. Time based work life policies, procedures and interventions were found necessary but not sufficient, for addressing work life conflicts.
Sundar, Sundarraj, Ashok kumar (2011), indicated that despite job security and strong welfare measures protect in private sector banks and opportunity for qualification upgradation by women employees it is the fear of promotion that keeps the women folk to continue to languish in lower cadres but the plight of women folk in new generation banks is different in that they do not have a job security and their pay is performance linked. Study revealed that women executives in Private sector banks are found to be more knowledgeable about work, maintain a cordial relationship with customers and have positive attitudes towards work.
Gururaja, Umesh Maiya, Elsa Sanatombi Devi, Anice George (2013), conducted descriptive Survey among 67nursing faculty towards their perceptions and attitude towards Quality of Work life showed that majority
experienced well balanced Work life, 9 expressed moderately work-life and none of them rated under poor work life balance. Data regarding job satisfaction showed that majority had moderate job satisfaction and had high job satisfaction. The correlation between Work life balance and job satisfaction showed positive correlation which can be inferred saying that high quality of Work life balance will improve job satisfaction.
Voydanoff (2001) have found significant interdependence between the roles that each requires workers to perform work-family conflict practices when balance cannot be achieved between the two roles. Either role may demand more time or more responsibilities, potentially leading to a reduction in.
Lewis,(2000)The concept of work-life balance is based onthe notion that paid work and personal life should be seen less as competing priorities than as complementary elements of a full life. The way to achieve this is to adopt an approach that is “conceptualized as a two way process involving a consideration of the needs of employees as well as those of employers”
Verma, (2007) As early as 1960's researchers have begun to study and find some imbalance between work and personal life. Various studies on work life thereafter finds that what happened at the workplace have significant impact on individuals and their families. Work life balance means adjusting the pattern of work so that your employees can benefit from a better fit between their work and areas of their personal life and in long run hope to achieve sustainable development and profitability.
M. N Jane, and N. M James(2014) The aim of this research was to analyze the relationship between work life balance policies and employee job satisfaction. Work life balance entails attaining equilibrium between professional work and other activities, so that it reduces friction between official and domestic life. Job satisfaction refers to the attitude people have towards their job and the organizations they work for. The quality of work life policies is increasingly becoming part of the business strategy and the focus is on the potential of these policies to influence employee's quality of working life and more importantly to help them maintain work-life balance with equal attention on performance, commitment at work and job satisfaction.
Bachmann and Schwartz (1994) discussed on the literature that work and balance is quite varied. Family-Friendly work environment, such as flexi-time, tele-work has been portrayed as an important component of an individual worker's preferences towards work time. It has been suggested to the organisations that if work and non-work lives environment should be provided to the employees with a means of recruiting, retaining and motivating their work force.
Kumari T.K and Devi R.V(2013)The concept of work lifebalance has stemmed from the fact that an individual's work life and personal life may put forth conflicting demands on one another and the demands from both the domains are equally important. Work life balance refers to maintaining the balance between responsibilities at work and at home. Work life balance is one of the most challenging issues being faced by the women employees in the 21st century because of the type of roles they play at home and the spill over of personal life over work life.
Lubana Riz V(2013) This paper is aimed at the theme ofwork-life balance, and to explain the significance of the said subject .Work-life balance is a key area for quality concern gurus, who believes that balance between work and life is of vital importance when it comes to performance of the workforce. The paper conducted study on effectiveness of workforce in the banking sector in Pakistan where the aim was to find out whether the employees are able to practice a sense of control.
Lewison, 2006. Balancing work and family has overtakenbenefits and compensation as a key factor in employee job satisfaction.
Trauth, Quesenberry Huang, 2009. Work-life balance isone of the factors that affect women employees' retention in the company.
Subramaniam, 2010. Family friendly policies at workplace are becoming a challenge for the employers to provide. They commonly refer to policies that enable employees to balance the demands of paid work and personal life which can be in the form of workplace flexibility or work time flexibility.
Amita Singh (2010), based on their study on work-lifebalance in IT sector in India suggested that Flex time, home working, child care facilities, option to work part time are facilities that need to be introduced and recommended for building a supportive work environment in the organizations.
Above mentioned various “studies, standard textbooks, articles and journals elaborate that employees' motivation and satisfaction, profitability and productivity, recruitment and retention policies can be improved by adopting flexible working arrangements or reduced working days.
Benefits Of Work Life Balance
The employees and employers need to manage well both personal and job related stresses. If this strategy is managed well then it can surely reap the following benefits:
Employer's Benefit:
There will be a reduction in Absenteeism rates.
Work life balance paves a way for increased employee morale and commitment.
It helps in reduction in stress and improved productivity.
It leads to the attraction of Skilled Employee.
The policies of work life balance assists to decrease in Employee Turnover.
It provide for Lower Recruitment and Training Cost
It increases Return on Investment as Employee Stay for a longer period.
Better teamwork and communication.
Employee's Benefit:
Work life balance policies provide the ability to manage work and Individual commitments.
It leads to improved personal and family relationships.
It guides to have increased focus, motivation and job satisfaction knowing that the family and work commitments are being met.
It leads to less distraction.
Paving a way for high morale and motivation
Directs in increased in job security due to organizational support through work life balance policies.
Sd/- Sd/- Sd/- Sd/-
(Registered under the Trade Unions Act 1926, Registration No.:3427/Delhi)
State Bank of India Officers’ Association
04th Floor, SBI Administrative Unit, No. 86, Rajaji Salai, Chennai- 600 001
Phone: 044-25227170 Tel/Fax 044 25261013
Circular No. 2017/63 Date:21.11.2017
To All Affiliates/State Units
Dear Comrades,
Forwarding the Note submitted to IBA by the 4 Officers Organisations on Five Day Week in addition to the Charter of Demands . the contents of which are self explicit. Kindly discuss. Please get articles written in Newspapers supporting our cause
With greetings,
General Secretary

Monday, November 13, 2017

Insurance Company Writes To IBA

TEXT OF EMAIL SENT BY UIIC TO ALL BANKS UNDER IBA POLICY (Pl verify the genuinity of this message before you act, this is copied from Facebook )

As you are aware the retiree group health insurance policy has expired on 31/10/2017. As per the policy condition, claim documents are to be submitted within 30 days of discharge or treatment taken (OPD) or post hospitalization. However some of the retirees due to unavoidable circumstances which are beyond their control might not be able to submit the claim occurred during the period from 01/11/2016 to 31/10/2017 on time. For all such retirees we are pleased to give one more opportunity to submit the claim documents with the following timelines. The below timeline is also for those who have claim during the fag end of the policy.

1. On or before 25/12/2017 OR
2. 30 days from the date of discharge OR
3. 30 days from the date of post-hospitalisation,
whichever falls later.

We seek your co-operation in this regard and request you to communicate to all your retirees to use this final opportunity for submission of claims under 2016-17 policy. While submitting such old claims, please advise the retirees to submit an explanation detailing the extreme case of hardship which resulted in the delay and the same may be forwarded to the TPA duly endorsed by the claim nodal officer of the bank. You will appreciate that we are giving 45 days ( from today) of extension for submission of claims occurred right from the beginning of the policy period i.e 01/11/2016 and it will be extremely inconvenient and difficult for us to accept any claim submitted beyond the above time limits.

Once again seeking your co-operation and assuring you of our best attention always.
PC Sreekumar
IBA Cell In-charge

Sunday, November 12, 2017

An Appeal on Medical Insurance

Newly born welfare association has lodged protest to Chairman IBA against the arbitrary decision of UIIL to change the TPA for mediclaim administration for the retirees only in the banking industry. We will lodge same protest to UIIL also.

Then we also warn this authority to be prepared for legal battle in there is any departure in the service to the retired employees'. As a Welfare association we are committed to our retiree friends.the original documents is also attached.
(Preparatory Committee)
e-mail :
Ref.No. aibrwa/IBA/1/2017 Dated: 13/11/2017

The Chairman
Indian Bank’s Association
World Trade Centre ,6th Floor
Central Building, World Trade Centre Complex
Cuffe Parade, Mumbai- 400005

Dear Sir,

Re: Abrupt change of Third Party Health Insurance Administrator (TPA)
At the very outset, we, on behalf of the seniors in the Industry welcome and congratulate you on your taking charge as New Chairman of Indian Banks Association. We introduce ourselves as a Welfare Association of Retirees’ of Commercial Banks in the name as “All India Bank Retiree’s Welfare Association” set up to look after the interest of Bank retirees’ and for ensuring unification in the retirees’ movement so that legitimate demands of Bank Retirees’ pending over the years can be properly mitigated.

We are surprised to observe that United India Insurance Company had suddenly changed the Third-Party Administrator for providing services under medical Insurance Scheme to the Bank retirees. To our information, one Health Insurance TPA (Pvt) Ltd and may be a few other companies has been appointed as third-party providers for settling of health insurance claims of Bank Retirees’. This Company will be one window Third Party Service providers to Bank Retirees’ only while the existing TPA will take care the requirement of the serving Bank employees’. We also understand that the hospitals / nursing home covered by this Company are pathetically poor when compared to existing TPA’s service coverage. We are also not sure about the infrastructure of this new Company in settling the claims of the retirees’.

We strongly feel that this sudden decision may push more number of retirees’ out of the Scheme simply because they will not get cashless facilities in his home town / area. This will be a great disservice to the retirees’ who has purchased the policy with great difficulty. Further, there is no clarity about who will settle the claims in the intervening period. This is based on our previous Bank level experience.
High amount of premium has already made the Health Insurance Scheme a distant dream for many retirees’. This change of TPA without involving the stake holders and their association will make the scheme further limited.

We appeal to you to prevail upon United Insurance India Company to put the entire plan hold till clarity emerged through discussion with stakeholders represented through the retiree associations.

Thanking you
Yours faithfully
Dipankar Mukherjee
Secretary, Preparatory Committee

Saturday, November 11, 2017

Open Letter To UFBU And Ministry of Finance

Following  letter has been  written by Mr C N Venugopalan on 12th of November 2017 which is relevant and effective . It exposes the hollowness and mischievous mind of top officials of banks whose decisions taken in the past caused enormous loss to all staff of the bank including those who retired. 

As such it is reproduced as it  appeared today  on Facebook . I personally thank And admire Mr Venugopalan who has been consistently fighting against the management, union leaders and government for the benefit of common bankers specially for pensioners.

Please forward this link or letter to all bankers you know, working or retired. In my blog I have recently posted his previous letter too which is available on right side of this blog or by looking in past blogs on this site.

C N VENUGOPALAN   Former Director (GOI Nominee) State Bank of Travancore & Ex Manager Union Bank of India

 “Nandanam”  Kesari Junction, North Paravur, Kerala -683 513   Mob: 9447747994 E – Mail:
 No. MOF :171112                                                                                                12th November, 2017
The Secretary, (Banking)
Government of India, an Ministry of Finance,
Department of Financial Services,
Jeevan Deep Building,
New Delhi – 110 001


Notification No. 428 in the gazette dated 6th November, 2017 –
Union Bank of India (Employees’) Pension (Amendment) Regulations, 2017

I write to point out to you the discrepancies in the above Pension Amendment Regulations, 2017 notified on 6th November, 2017 in the Gazette of India for doing appropriate corrigendum notification as the contents are unlawful besides being disastrous and detrimental to the subjects of the regulations and infringes their  fundamental rights on the following grounds:

1. The notification is issued in the name of the Ministry of Finance, Department of Financial Services and it bears the authorization of Shri. R R Mohanty, General Manager (HR).  Whereas there is no such designation assigned to any official of Department of Financial Services, the matter is to be regularized.

2. In regulation 3 sub regulation 10 reads as :
Notwithstanding anything contained in sub-regulations (2), (5), (6) and (8), in cases where an employee had retired /died after retirement on or after the 1st day November, 1993, but on or before the 1st day of April,1995, or where an employee had died while in service of the bank on or after the 1st day of November,1993, but on or before 1st day of April, 1995, such an employee or the family of the deceased employee, as the case may be, shall refund within the period specified in aforesaid sub-regulation the entire amount of the bank contribution to the Provident Fund including interest accrued thereon with a further simple interest at the rate of six percent per annum on the said amount from the date of settlement of the provident fund account till the date of refund of the aforesaid amount to the bank or till the 1st day of April, 1995, whichever is earlier.

The notification states that “after sub regulation 10 the, following sub-regulations shall be inserted namely:

(11) were in the services of the Bank prior to the 29th September, 1995 and continue in the services of the Bank as on the 27th April, 2010 provided such employee meets the requirements and comply with the conditions laid down in the settlement.
(12) were in the services of the Bank prior to the 29th September, 1995 and retired after that date and prior to 27th April, 2010 provided such employee meets the requirements and comply with the conditions laid down in the settlement.
(13) were in the services of the Bank prior to the 29th September, 1995 and retired after that date and had died in which case their family shall be entitled to the pension or the family pension as the case may be under these regulations if the family of the deceased meets the requirements and comply with the conditions laid down in the settlement.
(14) were in the services of the Bank prior to the 29th September, 1995 and died while in service of the Bank after that date in which case their family shall be entitled to the pension or the family pension as the case may be under these regulations if the family of the deceased meets the requirements and comply with the conditions laid down in the settlement.

In the first place, the aforesaid sub-regulations 11 to 14 are not co-related to regulation 3 or to sub-regulation 10 and there is no mention of any settlement earlier either in the preamble, definitions or in any regulations making the settlement unable to link to any regulation.  The sub-sections fail to convey any sense.

In the second place, if regulations 11 to 14 are linked to regulation 10, and the settlement is the Joint Note dated 27.04.2010, regulation 10 stipulates refund of CPF with six percent simple interest   till the date of its refund to the bank or till the 1st day of April, 1995, whichever is earlier and sub regulations 11 to 14 stipulates refund of CPF with 56 percent of it through the settlement which are prejudicial and in clash with each other.

Thirdly, the last date of option in terms of regulation 3 in respect of any category of employees / family of employee was 120 days within the notification of the principle regulations on 29.09.1995 which period ended on 26.01.1996 and no one can be admitted to the benefit of pension on the basis of these sub-regulations without giving the options a retrospective effect from a date prior to 26.01.1996.  In other words no one can be given an option in terms of the settlement,   after the last date of option viz. 26.01.1996. without amending the regulation suitably.

2. Per clause 4 of the notification, after the proviso of the regulation 28 of the said regulations, the following proviso was inserted,  namely:

“Provided further that employees who ceased to be in service on or after 29th September, 1995 on account of voluntary retirement before attaining the age of superannuation but after rendering service for a minimum period of 15 years in accordance with the Scheme framed in this regard by the Board with the approval of the Government, shall be entitled to join the Pension Fund, subject to the compliance of the terms and conditions mentioned in the Scheme”.

In terms of gazette notification dated 13th July, 2002, which was conveyed by Staff Circular No.4904 dated 8th October, 2002 of the Bank, the following clause was inserted below regulation 28 earlier, namely:

“Provided that, with effect from 1st day of September, 2000, pension shall also be granted to an employee who opts to retire before attaining the age of superannuation but after rendering service for a minimum period of 15 years in terms of any scheme that may be framed for such purpose by the Board with the approval of the Government.”.

It has hence to be clarified as to whether the insertion vide clause 4 of the notification is meant to be inserted before the insertion of 13th July, 2002 or after it and whereas pension also became payable to employees retired through voluntary retirement with effect from 1st September, 2000 through insertion dated 13th July, 2002,  without compliance with the “terms and conditions mentioned in the scheme” specific reason as to why compliance with the terms and conditions of the scheme is made through the new insertion.

3. In terms of regulation 7 notified on 29.09.1995,  the Pension Fund can receive only the components  specified in it which excludes a contribution from the employee other than the initial transfer of his CPF balance. Regulations 5.3 mandates that the Bank shall ensure that sufficient sums are placed in it to enable the trustees to make due payments to the beneficiaries under the regulations besides regulation 11 stipulating additional annual contributions to the Fund by the Bank on the basis of an Actuarial valuation.  Apparently the terms and conditions of the settlement referred to in the notification dated 6th November, 2017 prejudices the regulations 7, 5.3 and 11 and prescribes contributions to Pension Fund to the tune of 2.8 times salary for November, 2007 and 56 percent of CPF paid on retirement in the case of employees in service and retired employees respectively to their detriment. The contributions envisaged under the settlement prejudice the extant regulations and make the settlement unfit to be  laid in the Houses of the Parliament vide section 19.1 and 19.4 of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980 pursuant to which the Pension Regulations were stamped by the Parliament.  The relative sections of the Act violated are reproduced in clause 6 infra.

4. Per clause 8 (b) in the notification in relation to regulation 52, it is stated that in sub-regulation (3), the following proviso shall be inserted, namely:-

“Provided that pension including family pension to those who opted to join the Bank Employees’ Pension Scheme on or after the 27th April, 2010 shall be payable with effect from the 27th November, 2009”.

The insertions apparently prejudices regulation 52 (1) which mandates payment of pension from the date following the date on which an employee retires and hence is unsustainable in law on the premise of section 19.1 and 19.4 of the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980  which are given under clause 6 infra:

5. Relative sections of Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970/1980 referred in clause 3 and 4 supra:

Section 19.1
The Board of Directors of a corresponding new bank may, after consultation with the Reserve Bank and with the previous sanction of the Central Government by notification in the Official Gazette make regulations, not inconsistent with the provisions of this Act or any scheme made thereunder, to provide for all matters for which provision is expedient for the purpose of giving effect to the provisions of this Act.

Section 19.4
Every regulation shall, as soon as may be after it is made under this Act by the Board of Directors of a corresponding new bank, be forwarded to the Central Government and that government shall cause a copy of the same to be laid before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation or both Houses agree that the regulation should. not be made, the regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation.

6. Since the sections 19.1.and 19.4 makes beyond any conundrum that amendment to regulations not inconsistent with the Act alone can be made and any such modification or amendment shall only be without prejudice to the validity of anything previously done under the regulation, the terms of the settlement with special reference to clause 3 and 4 supra are unsustainable as per rules in force.  Hence the amendments notified on 6th November, 2017 prejudice what was done earlier under the relative regulations and are unsustainable. The notification is hence an affront to the Legislature and to the Constitution of India.

7. The notification carries an Explanatory Memorandum that the regulations which have been given retrospective effect are as per the agreed terms and conditions of the settlements and Joint notes singed between the Indian Banks‘ Association on behalf of member banks on the basis of specific mandate given by the respective banks in this regard and apex level workmen unions and officers’ associations of the Banks and therefore, interests of no person shall be adversely affected by such retrospective effect.   This is beyond any conundrum wrong and malicious as the contributions of 2.8 times Salary for November, 2007 in the case of employees on rolls and 56 percent of CPF in the case of retired employees are disastrous and the insertion under regulation 52 (b) providing for payment of pension from 27.11.2009 in the settlement is much detrimental to employees  who retired prior to 27.04.2010and prejudices the very same regulations which mandates payment of pension from the date following the date of retirement.   Unions and associations have no mandate from retired employees to discuss on Pension Regulations and to arrive at conclusions that are damaging to them and the Bank cannot affix a label to such conclusions that they are not affecting any person adversely.

You may kindly note that the notification is mischievous and unlawful in toto and detrimental to the beneficiaries of the Pension Regulations depriving the fundamental rights of the subjects.   A request is hence made hereby to repeal the same immediately in the event you have nothing to refute on what are stated above.  Please confirm compliance within a period of one month from the date of receipt hereof.

Thanking You,
Yours faithfully,


Following is an old letter to UFBU which is relevant today too and hence posted on Facebook by a banker and the same is reproduced below for creating awareness among common bankers.


It is unfortunate that the constituents of UFBU representing the Bank employees and the Indian Banks Association representing various Banks have been entering in to unlawful understandings / settlements in every wage revision hazarding the welfare of the Bank serving employees in general and Bank Retirees / Pensioners in particular.

The unholy bonding between them is evident from the Record of Joint Notes signed on 27.04.2010 & 25.05.2015. in terms of Ministry of Finance, New Delhi vide their own letter dated 23.10.2009 stated in clause 5.1 (a)(b) & 5.4 addressed to Mr. Arvind Ganesh Karnik and two others in relation to Reserve Bank of India Pension Regulations any administrative order or instruction which circumvents the provisions of Pension Regulations is unsustainable. But, the MOF implemented the Joint Note dated 27.04.2010 & 25.05.2015 in Public Sector Banks  under its control, envisaging amendments to Bank (Employees’) Pension Regulations,1995  framed under Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 intercepting its regulations 5 (3), regulation 11, regulation 7 and regulation 52 (1), without amending the Pension Regulations.

Is it not a fact that Employees representative organizations have failed in their bounden responsibility of their duties while signing the repeated settlements knowing very well that any extraneous actions of theirs requires amendments  to the Pension Regulations within the stipulated time frame. Specific to the issues of Retirees/Pensioners, are they not aware of the Pension Regulations 5, 7, 11, 13, 52 & 56. Because of their lack of knowledge or deliberate interconnection with IBA, have been repeatedly put the rightful demands of the Retirees at stake in respect of their (a) Periodical Updation of Pension, (b) 100% DA neutralization, (c) Improvement in Family Pension, (d) One more option of Pension to left out CRS, VRS, Resignees etc.,

Despite their representatives in the Board of the Banks & having tremendous members support have failed to ensure:

• That the employee’s Salary revision & other benefits are at par with employees of Central Government.
• that the Bank Pension Funds are maintained as per the norms of Pension Regulations 1995, resulting in apprehension that  the Banks Contribution to Pension Fund under Reg 5 is not done regularly right from the inception of the Pension Regulations, 1995 till date.
• The actuaries are not correctly calculated on annual basis under Reg. 2
• The Pension Fund maintenance in respective Banks are not monitored periodically
• Failed to demand need of Retirees Representatives in the Pension Fund Trust maintained by the respective banks.
• It is also appears that they were keeping silent when funds are wrongly or deliberately transferred by some banks from Employees’ Pension Fund to show fictitious Profits.
• Failed to clinch  long pending (a) Periodical Updation of Pension, (b) 100% DA neutralization, (c) Improvement in Family Pension, (d) One more option of Pension to left out CRS, VRS, Resignees etc. based on various court judgments
• Failed to impress the Government that the Pension Corpus Fund which is contributed by the members is sufficient to service the above demands
• Impress the government that their demands does not require any budgetary allocations and there are is no burden to the exchequer.
• Failed to challenge the government that the under Reg. 56, Bank employees’ Pension Regulations are equally applicable at par with CCS Rules, 1972.

It is high time that the so called Employees representatives shall introspect their deeds done earlier and strive their sincere, honest efforts & ensure that the justice is reinstated at least now in the ensuring XI BPS.

Please demand for scrapping of IBA which is an unregistered & unauthorized voluntary organization not appointed by the govt, not funded by the govt, but funded by the member banks out of public money without any responsibility & accountability for its action on behalf of Banks. This has been confirmed by Central Information Commission (CIC).

In view of the fast changing scenario of impending bank mergers, the position of Pension Fund is apprehended to be put in mess &disorder and before that, demand for Financial, Performance and Compliance audit under Article 149 & 151 by Comptroller & Auditor General of India (CAG) in respect of individual bank Pension funds for the period from 1995 to 2017 to safe guard the interest of its beneficiaries viz. Bank employees/ Retirees /Pensioners.

Further, impending bank mergers, it is apprehended that the BPS at industry level may be affected as Individual Banks may opt for Bank-wise settlement, Hence, demand for separate Bank Pay Commission at par with Central Govt. employees Pay commission.

It appears that the UFBU is reluctant in helping Retirees (as evidenced in Joint Note dated 25.05.2015). There is a proverb i.e. ‘after chess game is over, King and soldiers are put in same box’. Similarly, after retirement, all are called as Retirees/Pensioners only irrespective of their past designations. Hence, all the leaders of Retirees Association are requested to shed their reservation if any and get united under one banner and fight for the rights of the Retirees/Pensioners instead of always depending on leaders of Serving Organisations.

People wanted to know the reality. We request the leaders of all associations under UFBU to respond to this letter and assure that you are not shirking the responsibility and would work for the rightful cause of the Serving & Retirees at least in the ensuing XI BPS.

Thanking you,

Yours faithfully, 

Dr. Dhananjaya Bhupathi, B.Sc.,MA.,LLB.,CAIIB,MD[Acupressure],
(Former Manager at Syndicate Bank and
Visiting Professor to Medical Colleges,
Address: Care:Mr.Vikas Rao, 1-8-702/62/9[Upstairs],Near HanumanMandir, Padma Colony, Nallakunta,HYDERABAD-500 044, TELANGANA STATE. Email, Mobile No.9198 4936 7207.
Dated: 28.07.2017.

Banks have been forced to conduct loan melas to disburse loans sacrificing quality of loaning process and banks have been forced to write off loans so that vote banks of ruling party is safe and become greater.

Banks have been used to carry out all non - productive services like tax collection or salary payment or disbursing subsidy oriented loans under various government sponsored schemes or reckless branch expansion in the name of service area approach or PM Jan Dhan Yojana.

Further to make the situation worse, banks have been directed and allowed by previous government to do non- banking business like insurance, mutual fund, demat etc. In this way banks sacrificed the safety of bank's core assets and wasted time in capturing insurance business from own customers. They could earn a few crores of rupees in commission on selling insurance policies but they lost hundreds and thousands of crores of rupees by financing to bad borrowers or by neglecting monitoring loan asset or by writing off bad loans.

There is a saying " Penny wise pound foolish"Naked Truth!

Starting January 2014, a Reservation Clerk in Railway will earn Rs.35,370 after taking into account the recent 10% DA hike announced by the Govt.On an average there will be jump in salary to the extend of 2.6times after every pay commission. So after 7th pay commission, if we consider the worst case scenario and suppose salary will jumpby 1.6times, from 2016 a booking clerk will get Rs.57,250 as agaisnt the 18000 drawn by Bank Clerk and 30000 drawn by Bank Officers.The entire thing has to be read against the backdrop that during the year 2012-13, Railways made aloss of Rs.24,600 and the minister was quick in attributing the loss to the gloomy Economic Scenario prevailing in the country.
It is worth to mention here that IBA restricted the wage revision to 5% citing poor profitability of Banks, whereas data reveals that during the last 5 years, Gross Profit of PSBs jumped by141% to Rs.1,07,731Cr.Can anyone explain the rational prevailing in this GREAT country in giving Rs.57000 salary to a booking clerk who key- in nothing but passenger detail and a bank officer who appraise and sanctions credit worth crores of rupees!
This is old story posted on Facebook today but it holds truth today too.

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