If they have a frugalest possible will, both State Bank of India and the Central Government can very well afford meeting the most legitimate and highly need based demands of pensioners in SBI but most callously they are blatantly ignoring it. Feeding itself fat every day financially the Bank continues slapping a hard hand on the most ill paid pensioners who have all along been hankering for some relief for several decades but both the Bank and the Government gave a deaf ear to it. KR Saini, the veteran, has provided a brief on it which is worth being gone through thoroughly. He is away abroad in USA for rest and recuperation but still keeps himself indefatigably harnessed to the movement on pension as a mission. This is most bounden a duty for the SBI pensioners all over the country to boost him up for the cause he has so committedly takenup. His brief in two parts is given below for the close perusal of the readers.
|KESHAV RAI SAINI
Nov 09, 2014 @ 22:22:05 IN STATE BANK OF INDIA PENSION REGULATIONS ARE NOTIFIED BY THE GOVERNMENT OF INDIA WITH THE CONSULTATION OF RBI ON THE RELATIVE RESOLUTIONS PASSED BY THE CENTRAL BOARD OF STATE BANK OF INDIA. AFORESAID PROCEDURE IS TO BE FOLLOWED BY ANY AMENDMENT IN THE PENSION REGULATIONS. EVEN THE RESOLUTIONS PASSED BY BANK’S CENTRAL BOARD ARE NOT STATUTORILLY BINDING ON THE GOVERNMENT OF INDIA AND GOVERNMENT OF INDIA HAS SWEEPING POWERS IN THESE REGULATIONS TO MODIFY PENSION REGULATIONS EVEN AT ITS OWN. EVERYTHING IS IN PENSION REGULATIONS NOTIFIED BY GOVERNMENT THROUGH GAZETTE NOTIFICATION. OLD PENSIONERS GET PENSION ONLY AS PER PROVISIONS OF THESE REGULATIONS AS MODIFIED FROM TIME TO TIME. TO BE CONTINUED. (Please refer the next column)
|KESHAV RAI SAINI
Nov 10, 2014 @ 05:52:34IN CONTINUATION OF MY YESTERDAY WRITE UP, IN TERMS OF PENSION REGULATIONS,THERE IS PENSION TRUST IN STATE BANK OF INDIA WHICH IS A SEPARATE ENTITY DISTANT FROM BANK MANAGEMENT. THE BANK MAY CEASE TO EXIT LEGALLY IN FUTURE BUT CONCERNED PENSION TRUST WILL NOT BE A CASE TO EXIT ALONGWITH IT. PENSION TRUST IS UNDER LEGAL OBLIGATION TO PAY PENSION TO THE RETIRED ELIGIBLE EMPLOYEES AND OFFICERS. ANY SETTLEMENT BETWEEN I.B.A AND BANK UNIONS IS BINDING ON BANK BUT NOT ON PENSION LEGALLY. PENSION FUND DOES NOT CARE WITH IN THE DEFINITION OF EMPLOYER UNDER INDUSTRIAL DISPUTE ACT AND HENCE THERE CANNOT BE ANY SETTLEMENT BETWEEN UNIONS AND PENSION TRUST.
PENSION IS PAID IN ACCORDANCE WITH THE REGULATIONS DULY NOTIFIED BY GOVERNMENT OF INDIA AND AS FAR AS RETIRED EMPLOYEES AND OFFICERS ARE CONCERNED, NOT EVEN AN EXTRA RUPEE CAN BE PAID TO ANY ONE UNLESS PENSION REGULATIONS ARE AMENDED BY THE GOVERNMENT OF INDIA.
THE CORPUS OF FUND OWENED BY PENSION TRUST IS KNOWN AS CAPITAL FUND WHICH IS INVESTED IN GOVERNMENT AND OTHER SECURITIES AS PER GOVERNMENT DIRECTIONS APPLICABLE FROM TIME TO TIME. PENSION IS NOT PAID OUT OF CAPITAL FUND BUT OUT OF THE INTEREST AND EARNINGS FROM THIS CAPITAL FUND OWENED BY PENSION FUND.
IT MAY BE NOTED AT PRESENT BALANCE OF PENSION FUND IS ABOUT RS. 46000 CRORES IN STATE BANK OF INDIA AND IF GOVERNMENT WANTS TO RESOLVE THE ALL PENSION ISSUES INCLUDING UPDATION OF PENSION OF PAST RETIREES THEY CAN WELL NIGH DO IT BUT GOVERFNMENT IS ADAMANT NOT TO PROVIDE ANY BENEFITS(IMPROVEMENT IN PENSION). IN NUT SHELL,IT ALONE IS ENOUGH TO SOLVE ALL THE PENSION ISSUES OF S.B.I WITH SUFFICENT FUND IN THE PENSION FUND OF S.B.I. CONCLUDED: K.R SAINI