Multi-crore Scam by nexus of Indian Banks Association (IBA) & United Forum of Bank Unions (UFBU)

 Shri Ram Nath Kobind

Hon’ble President

The Republic Of India

I am posting copy of one letter received in Whatsapp, I do not know who has written it, but the message he has tried to convey appears to me considerable and needs to be investigated.  I have highlighted  similar apprehension in the past many times through my blogs AZ ND through letters to VIPs sitting in government.  Unfortunately it attracted no concern from any corner till now. 

 I therefore  think it appropriate to post the views of unknown writer here so that other person's sitting at helm of affairs may also notice it and if there is honesty in anyone's mind,  investigation will start sooner or later to punish all culprits who at the cost of retirees giving benefits to serving employees and who are serving their selfish interest also. 

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Rastrapati-Bhawan New-Delhi-110004                                                                         16/09/2020

 Most –Urgent / Serious

Your Excellency

Reg- High level inquiry in alleged Multi-crore Scam by nexus of Indian Banks Association (IBA) & United Forum of Bank Unions (UFBU) in approving & sponsoring exorbitant Health Insurance Premium for retirees to enrich unduly  select insurance companies at retirees cost .

Ref – My mail letter dt 17/08/2020 & 25/08/2020 to Shri Rajnish Kumar 

Chairman, IBA.

In the above reference, I sent two mail letters to Shri Rajnish Kumar Chairman IBA but he is silent. Therefore I am putting hereunder facts as available for your kind perusal & immediate action to save helpless retirees. 

Insurance –Premium for serving employee, his        Insurance Premium for  retiree and spouse, his children & two parents (Senior-                his spouse  for TWO PERSONS  for Citizens) say for SIX PERSONS for THREE-LAC.         THREE-LAC. with GST-Annex-4 and with GST- Annex-2

1-Year2015.........                                                                           1-Year2015........Rs 5620/-Annex-4

2-Year 2016...........Rs12334/-   Annex-1                           2-Year 2016........Rs15007/-

3-Year 2017---------Rs12334/-   Annex-3                           3-Year2017.........Rs 15187/-

4-Year 2018...........                                                                        4-Year 2018........Rs21594 /-

5-Year 2019........... Rs 17627/-                                                5-Year 2019........Rs24897/-Annex-5

  

It is clear from above data that insurance premium was reasonable in year 2015 at the start of scheme, but it was enhanced 267% in one year i.e 2016. No change for staff but slight increase for retirees in 2017. Again in 2018, it increased by 142%. In 2019, again increased by 115% for retirees. Thus within five years, increase was 443%.

It is pertinent to note that I purchased our bank approved policy available for staff & public from my Bank counter of HDFC –ERGO for Rs 12963/ including GST for self & spouse for three lakhs on 24/02/2020 .Annex -6

Here it is also unbelievable that premium for six persons (including two senior citizens )  is substantially low than for  retirees for two (spouse may or may not be senior –citizen at the time of retirement ) .If a fair calculation is made ,premium for retirees  cannot be more than half of in service employee’s premium . 

WHY IBA FORGETS THE FACT THAT RETIREES ARE THE OLD CUSTOMERS OF INSURANCE CO WHOSE PREMIUM WAS BEING PAID BY BANK ON THEIR BEHALF. . It is well known fact that insurance co adopts every unethical practices to serve their own interest. The possibility of extraneous considerations cannot be ruled out. 

IBA is said to be not a lawfully constituted body & representative / majority status of UFBU is in question, office bearers have never faced any free & fair elections during their life time but only life time nominations. They are obliged by Bank by way of life time convenient postings, freedom from routine work & inordinate delay in settlements to enrich their funds by way of settlement levy which increases in cores with every month. They are like kings& unaware of members grievances. Union subscription is debited from salary sheet & if any member dares to leave the union, he is harassed in multiple ways. Often members pay only for their mental peace as may be observed from their social media posts.

Member pays monthly subscription, contributions on conferences, deduction of salary in strikes & arrear levy ( approx Rs 4-5/ lakh during entire career if calculation is made with interest ) for betterment of servicing conditions but their servicing conditions are deteriorating with every successive settlement in comparison to other sectors. It is a well established fact that in those organisations where there is no union, there is better productivity & better servicing conditions. Bank unions are dominated by communists who are well known for their anti-national approach and have allegiance with international bodies rather with mother land and therefore they need to be banned.  

In my mail letter dt 03/09/2020 ,I have  mentioned  in detail , how the nexus of IBA & UFBU is involved in activities , which are not in social interest .Crores of rupees are lost in NON-PERFORING ASSETS / FRAUDS due to high handedness of few officials thus destroying the very survival of banking industry, but they are silent . Bankers are discharging dual responsibility of Banking & implementation of Govt sponsored schemes. No social service organisation can earn profits but it runs on budgetary support .If respectable servicing conditions are not offered in Banks, why a young talent will prefer to join bank & Indian economy will be in peril as banks are the backbone of Indian economy.

Your Excellency,  It is