Modi or Congress Party Is Responsible for Plight of Bank Staff

NPS किस सरकार की देन है।
Old pension scheme किस सरकार ने खत्म किया।
हमारा भविष्य किस सरकार ने खराब किया। IT is none other than Congress Party.

Wages of bankers have faced continuous  erosion and downtrend in all bipartite settlements held during  rule of congress party.

Lacs of Bank staff had to pay for second option ...Why and under which govt?
It was mischievous step of Congress party led UPA government.

Banks are critically sick. More than Rs10 lac crore of losns are categorised as NPA . Still more are hidden.
Who created it ? It is UPA government.

A senior  banker who have seen style of functioning  of UPA rule should know it better.

Cases of pension  updation and 100% DA is pending since 2002 in various courts .
Who are responsible?
 Is it Modi or NDA government? Not at all.

Gratuity effective date was not uniform in the year 2010
Was it due to Modi?
Not at all.
It was due to evil person like Chidambaram.

Many CEOs of bank did not contribute in pension fund the amount they were supposed to do. Some bsnk management's debited pension fund to inflate profit. These acts are clear cut fraud with the system.
Why our union leaders remained silent spectators of evil acts of top management  of various Banks?

How can we expect justice FROM such trade union leaders and such top ranked officers of bank management?

---Central govt employees used Modi cleverly and got everything  THEY wanted.
---RBI unions have forced present government to look into their demand.

But our union leaders have not spoken a single word on any point mentioned above because it is they who speak the language of the  government in power. They do not differentiate  between congress party and BJP. They know how to serve their self interest at the cost of 10 lakh bank staff.

I request bank employees to try to introspect and find out the reasons behind pathetic  position of bank employees.

BJP or Modi may be bad in  view of some of them but we have to get our wage hike through this GOVT only. Or else you bank staff may first try to dislodge this GOVT, elect congress party and then go for wage hike.

Modi is undoubtedly a better person in my view because I have seen the action and attitude of all governments of the past.

Options are open with bankers and their so called militant union leaders. THEY may focus on their demands or fall in trap of politically opponents of Modi who want to grab power by hook or by crook.

This is my humble appeal to all bank staff and particularly to staff who are busy in abusing Modi or in criticising steps taken by Modi led NDA government.

Some staff doubt on Rafael deal like Rahul Gandhi and some are making mockery of demonetisation  without understanding intricacies of economic policies changed by Modi. Some Modi haters are also using a section of bank staff to create unrest in banking   to serve their political motive.

Demonetisation Was bad or good , God knows or economists know . Modi haters say it bad whereas his supporters appreciate it. World forum likewise praise it and dome oppose it.

But the question is that our wage hike has no linkage with act of demonetisation.

If a bank staff  goes to his boss asking for leave,  is it necessary for him  to first criticise his boss,  abuse him and give disrespect to his wisdom?
And whether it is appropriate and desirable to criticise  the government policies knowing  very well that bsnk staff are also part of government and they are duty bound to execute all plans and policies dictated by government of India irrespective of the fact it is led by Congress Party or BJP or else.

My point is that we bankers should not play in hands of politically opponents  of Modi.

Rest lies on the  wisdom of bankers.

God bless you

I submit copied version of an information  compiled by Sri Darsan Singh. This will help readers in understanding above mentioned realities of period ruled By Congress Party.

Dear Retirees Friend and working friends,
Please read .....and
जरा विचार करें ।

BRIEF HISTORY OF BPS to UNDERSTAND THE FACTS

7th BPS
In 7th BPS for the period 01.11.1997 to 31.10.2002,

(a) the DA upto 1664 points was merged with the Basic Pay
(b) But for the purpose of payment of pension, merger upto 1616 point was
considered,which resulted in lower basic for the purpose of pension calculation.
The pension of the employees retired from 01.11.1997 till the date of settlement
(11.03.1999) was reduced from 50% to 41% due to above illegal settlement.

All the employees who retired during 01.11.1997 till the date of settlement
 were paid the revised pension from the date of settlement. ie 2000
They were denied the arrears of revised pension. They were forced to give
undertaking that revised pension will be paid if they agree not to claim the
arrears of pension and revised commutation.

8th BPS
The 8th BPS for the period 01.11.2002 to 31.10.2007
 8th BPS was signed in 02.06.2005.
The employees retired during 01.11. 2002 til the date of signing of
settlement ( i.e. upto July 2005) were denied the arrears of pension and
commutation as happened in 7th BPS.

 7th 8th & 9th BPS
UFBU agreed to share the incremental cost of pension since
7th BPS    total  16.5%   ( 8.25% from employees + 8.25% from  Management)
8th BPS    Total  18.5%   ( 9.25% from employees + 9.25% from Management )
9th BPS    Total   26%     ( 13% from  employees  + 13%  From Management  )

DO YOU KNOW THAT THIS INCREMENTAL COST WAS RECOVERED FROM THE EMPLOYEES AND SAME AMOUNT FROM THE MANAGEMENT BUT MANAGEMENT SHARE HAS NOT BEEN DEPOSITED IN THE PENSION FUND TRUST.

The Some Bank management stopped depositing 10% of basic pay
each month in the pension fund as per pension regulation. They are
manipulating the Actuarial valuation report and accordingly depositing there
share (lower amount) on quarterly/ half yearly/ yearly basis.

It is  the responsibility of the Unions to ensure that the incremental cost of
pension, so agreed, has been deposited in the pension fund, but leaders are not
 interested to care the retirees FUND

The Bank not deposited 10% statutory contribution every month as on 31.03.2010.  As per annual report from the website.
In fact Bank withdrew Rs 57 cr from pension fund to boost the profit to 3058 crore in March 2010.
The bank has deposited employer contribution to pension
 Rs 472  crore during 2008-09
 Rs 365  crore during 2007-08 
 Rs  NIL           during 2009-10
 How the employer contribution can be Nil during 2009-10.?

 The list of PSB not deposited the statutory share in pension fund is very long which includes SBI + Groups and  PSB, United Bank, UCO Bank, Central Bank Union Bank. Central..................

 It is diversion / loot of employees retirement funds to boost the profits.  The amount involved is more than one lac crores which has been laundered since 01.11.1997.

 RBI allow amortization of pension cost/fund  to boost the banks profit and used 19611.57 coroe from the banks pension fund and returned in 5 Installments.
Why the banks have not deposited this 19611.57 cr in one installment.
Is it not a loss to the pension fund?.
The 9% average return on pension cost of Rs 19611.57 will add to pension kitty
by 1765.04 cr per year.). Loss of interest of Rs 1765.04 cr to
pension fund is equal to 40% of wage rise offered .

***The interest loss to the Pension Funds for retirees due to the amortisation of Pension cost of banks over 5 years in the IXth BPS, high loss of interest to pension fund.
It is an act of --misappropriation of pension funds at the corporate level .***
Other words we can say Maha LOOT on Pension Fund.

10th BPS
10th settlement signed with IBA, UFBU has agreed that DA upto 4440 index
point i.e.60.15% will be merged and Basic plus 60.15% plus 2% amouting Rs
597 cr will be used to construct the scale, meaning thereby 102% of Basic plus
60.15% DA will be new basic.( 102% of old Basic + 60.15% of DA )

The remaining 13% they utilized as grade pay / spl.pay.
The grade pay /spl.pay ie near about 13% NOT COUNTED or ADD FOR THE PENSION PURPOSE,
GREAT GREAT 13%  LOSS TO THE PENSIONER WHO RETIRED ON OR AFTER 01-11-2012 .

Friends,  In Banking GM becomes ED, he is no longer a bank employees
but a Govt. nominee on the Board.    He is not governed by Bank employees
Pension Regulation. In fact he has to resign but his resignation is treated as
retirement and his retirement dues are paid. He is entitled to gratuity/ pension
leave encashment PF and other retirement benefits.
GM becoming ED is entitled for pension on his resignation but normal
employees resigning after -20- years is denied the pension.
So ED gets salary fixed by Govt. plus monthly pension.
Do you know that now ED/ CMD are getting -2- pensions. One pension from
parent Bank from where he was GM and 2nd pension of Chairman/ Executive
Director from the Bank he retired as CMD/ED.
Your pension fund is paying pension of ED/CMD and he has never contributed
incremental cost or 10% to the fund.

( Big thanks to our friend Mr Sudhkar Rao from Karnataka for very valuable points)

Dear Friends as you know that neither the bank Managements represented by the IBA  nor the unions represented by UFBU have been serious to resolve our burning issues despite our hue and cry through various forums.  In fact, they both have gone to the extent of saying that – we the retires cease to have any relationship with the employers and have no contractual obligations whatsoever and refused to have any dialogue with the organisations representing us for the redress of our legitimate grievances stated supra, vide their “Record Note” dated 25th May, 2015, which reminds us of the historical “Magnacarta” signed  by themselves , to leave our fates to destiny forever.

DEAR FRIENDS,
All above are facts based on past experience, the IBA and UFBU may cheat again so be careful and watchful. We think and feel that we are required to give a BIG BIG serious thought .
All above are for your information and knowledge under our knowledge sharing prog. 2018
JAGO FRIENDS  &
 अपने अपने नेताओं को भी जगायो ताकि 11 BPS मे आप सब के साथ धोखा न हो.
Thanks for sparing few moments for this.

REGARDS
DHARAM SINGH
NEW DELHI
+91 9810900536- Fwd as received