Category Archives: india

Investments in wastages?

Image result for investing in wastagesThere are enormous wastages mainly in plastic field all over the world with USA on the top 109% and India at 28%. The ideal position in some direction could have been there by taking advantage of mammoth developments on a scientific front but it has not been done except to some limited extent. It has rather assumed another negative parlour of pilferage -a highly derogatory one with the modus operandi that certain calculated amount of wastage is added to the finished product raising quantitative side of it in turn increasing its volume and value. This very mode of the deal provides additional profit to the company which actually is not earned and is fake. This is an open dacoity and amounts to a large scale blackmail and it is unfortunate that the relative governmental channels refuse to take any notice of it. Where to go?. The house wives prepaing the eatables have to have extra deal in sorting the grains out taking care of direct food intake.

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On population growth?

Image result for population growthIndia is confronted with the unruly  populatioan, say population growth, and there is hardly any one to bother the least including political heavy weights and the reason is once bitten twice shy. During Emergency this was top agenda of Sanjai Gandhi and it cost Indira Gandhi, the then Prime Minister of the country, her government. It was virtually once bitten twice shy and the till then   a great furore got silenced. None was bold enough to take cudgels against the public and the issue got fully gorbaged. Infact none had guts to bell the cat since then. There are murmers that some selected individuals are there who tried to raise their voice but they were silenced by the power blocks. True, moves are there on developmental programmes and progress of the country but gains on that count only get submerged leaving nothing for the people.The need of the hour  is to enable a plug that is capable of arresting population growth failing which all pro development and reconstruction activities would have to get doomed.

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What is it they owe to the people?

They are Members of Parliament representing the people of the Country with a mandate to serve them adequately and honestly in all the  matters of welfare for a tenure of five years normally. It’s different matter that with the exception of a limited few the rest always are deeply prone to foster their own personal interests say their rise of salary at par with top beaurocrats on which count they raised all hue and cries on the floor of Parliament. They ultimately got it obviously at the cost of the public exchequer. As a result several other important sectors like Banking were ignored which trend still continues unabated. Initially there was nothing like a fixed salary but an allowance of Rs.2,500/ and that too was an optional feature differing from an MP to MP.

Government sponsored festivities on next Holi:

Yes, as announced by the Chief Minister of Uttar Pradesh Adity Nath Yogi, the next Holi has to be celebrated at a grand scale at Mathura/ Brindaban sponsored by the Government of Uttar Pradesh. There are already murmurs in different quarters for and against the move and the possibilities of  a repeat what is happening in Rajasthan can’t be ruled out. Leaders  of different political parties are greesing their palms against one another.


 

Share market -thorny ups and downs:

Just a game, or say a gamble or a sophiscated race with tricks and wits, share market is a match between money enthusiasts and their competitors in the field -some winning and some losing. This has been continuing like this for the last  several decades. Originally it was called Satta Bazaar  and the oldies still prefer to call it as such. Whatever the name the market is able to benefit lot of people and in the same measure there are thousands of people who go a  pauper and they not only lose their own invested amount of money they also have to borrow money to pay for the overdues on account of loss. Jua as it was called earlier is still there in several parts of the country and is a great social evil warranting to be immediately arrested by the Government of India.Image result for stock market

Culture abuse stands hyperbolised:

.Image result for cheerleadersIndia’s cultural image has been having a top rank reputation all over the world with the slogan “Yastu nariyastu poojyantey ramante tatra devta” (angels live where ladies are worshipped) and their status in the society attained much bigger a status and necessary campaign on this front brought glory with recognition sky high.Thanks to people like Raja Ram Mohan Roy, Swami Vibekanand and several others who were the great pioneers on this count leading to tremendous upliftment of the women with capability to elicit respect and dignity in the society. Now that today’s status extended to the women folks warrant a hault as heading beyound this may just lead to big social disorder creating a chaos proportionate between males and females. Heading onwards beyond society girls culture is always like distorting and diminish their grace. Frailty thy name is Woman is what Shakespear quoted and dignity and honour attained is to be retained without hyperbolising the same.


 

Pension issues in SBI -latest analysis:

The readers have already been apprised of the relative developments through the predecessor posts on this blog and this one is the latest dexterously release by him. It covers many a minute intricacies in the matter with a threadbare analysis. The full contents of the subject are given below exhaustively for the benefit and advantage of the readers particulary the retiree pensioners of State Bank of India. The items are serialised item by item:

STATE BANK OF INDIA EMPLOYEES’ PENSION FUND RULES WERE FORMED W.E.F 1.07.1955 WHEN IMPERIAL BANK OF INDIA WAS NATIONALISED AND STATE BANK OF INDIA CAME IN TO EXISTING W.E.F 1.07.1955.RULE 23 RELATES TO CALCULATION OF PENSION.THIS RULE WAS IN IMPERIAL BANK OF INDIA ALSO AS RULE 20.THEN IN STATE BANK OF INDIA THIS RULE IS NOW CALLED REGULATION 23 W.E.F 18TH SETEMBER,2014 WHEN STATE BANK OF INDIA EMPLOYEES’ PENSION FUND REGULATIONS -2014 WAS NOTIFIED IN THE GAZETTE OF the GOVERNMENT OFINDIA.

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REGULATION 23(1)

THE PENSION PAYABLE UNDER regulation 22(REGULATION22 STIPULATE MINIMUM SERVICE FOR PENSION IN S.B.I)SHALL BE THE AMOUNT CALCULATED AT THE RATE OF ONE-SIXTIEST PART OF EVERY YEAR’S PENSIONABLE SERVICE OF THE AVERAGE MONTHLY SUBSTANTIVE  SALARY DRAWN DURING THE LAST TWELVE MONTHS.THIS FORMULA WAS IMPLEMENTED WE.F 1.1.1986.

 WITH THE ADVENT OF BIPARTITE SYSTEM IN BANKING INDUSTRY,THERE WAS A SUBSTANTIAL INCREASE IN BASIC PAY OF EMPLOYEES AND OFFICERS.HOWEVER,THE PENSION  CEILINGS REMAINED CONSTANHT AT RS750/ AND RS1000/,WHICH RESULTED EROSION OF CONCEPT OF 50% OF PAY.MANY SENIOR  OFFICERS STARTED DRAWING PENSION MUCH LESS THAN 50% OF THE LAST DRAWN PAY.THIS CREAT MUCH HEART -BURN.THE PENSIONERS’ ASSOCIATION DELHI CIRCLE APPROACHED THE HON’BLE SUPREME COURT FOR RELIEF,WHICH AFTER HEARING THE PETITIONERS GAVE A DIRECTION ON 23.02.1989 TO BANK TO ENHANCE THE PENSION CEILING TO RS2400/ PER MONTH W.E.F 1.1.1986.IT IS PERTINENT TO NOTE THAT WHEN THE SALARY SCALES WERE CONSTRUCTED AT 332 POINTS OF CPI,THE MAXIMUM BASIC PAY OF SENIOR MOST EXECUTIVE(DY MD) WAS AT RS4800/PER MONTH.THE COURT HAS UPHELD THE CONCEPT OF 50% OF BASIC PAY AS PENSION UPTO THE LEVEL OF DY MANAGING DIRECTOR.

                              ANOMALY OF 5TH BIPARTITE RETIREES

             ALTHOUGH PENSION HAS BEEN PAID AS PER RULE 23(1),HOWEVER,WITH A CEILING OF RS2400/ WHICH WAS HALF OF THE SALARY OFDEPUTYMANAGING DIRECTOR OF 4TH BIPARTITE SETTLEMENT WHICH ENDED ON 31.10.1987..SUBSEQUENTLY,WHEN THE SALARY REVISION TOOK PLACE W.E.F 1.11.1987,BASED ON MERGER OF600 POINTS OF CPI,THE SPIRIT OF HON’BLE SUPREME COURT SHOULD HAVE BEENN KEPT IN MIND AND PENSION CEILINGS SHOULD HAVE BEEN RAISED TO RS3775/ WHICH WAS 50% OF THE HIGHEST BASIC PAY OF SENIORMOST EXECUTIVE OF THE BANK.UNFORTUNATELY CEILING WAS NOTREVISED THOUGH PROPOSAL WAS PUT UPTO GOVERNMENT IN 1989.

                                                     COMMITTEE’S RECOMMENDATIONS FOR 5TH BIPARTITE RETIREES

      ”THE CEILING OF MAXIMUM PENSION IN SBI TO BE INCREASED FROM RS2400/ TORS3775/PER MONTH W.E.F 1.11.1987 BASED ON THE MAXIMUM BASIC PAY OF DMD WHICH WAS FIXED RS 7550/ ONTHE JOINT NOTE DATED 11.06.1989.”

                  IT HAS BEEN OBSEVED THAT COMMITTEE CONSTITUTED BY M.O.F DO NOT CARE REGARDING INTHE PAST AND DECISION OF1989 HAS NOW BEEN TAKEN IN 2017 AFTER 28 YEARS WHILE MAKING ARREARS OFPENSION TO 5TH BIPARTITE RETIREES.

 NOW QUESTION ARISES HOW MANY PENSIONERS OF 5TH BIPARTITE RETIREES SURVIVE NOW?

                                                ANOMALIES OF 6TH BIPARTITE RETIREES

                       THE NEXT WAGE REVISION MERGER OF 1148 POINTS OF CPI WHICH WAS EFFECTED FROM 1.11.1992 IN THE CASE OF AWARD STAFF AND 1.07.1993 IN THE  CASE OF OFFICERS,THE PENSION CEILING WERE REVISED TO RS4250/ PER MONTH W.E F 1.11.1993 WITHOUT TAKING INTO ACCOUNT THE ACTUAL SALARY SCALES DRAWN BY OFFICERS.THE HIGHEST BASIC PAY OF EXECUTIVE(DMD) WAS RS14800/ AND BASIC PENSION SHOULD BE RS7400/ PER MONTH BUT MAXIMUM WAS FIXED AS RS4250/PER MONTH .THIS HAS RESULTED IN FURTHER REDUCTION IN BASIC PENSION TO 28.71%.

IN FEBRUARY 1999 GOVERNMENT BROUGHT IN A CONCEPT OF 40% OF THE LAST DRAWN BASIC PAY OVER AND ABOVE RS8500/ PAY WITH MINIMUM OF RS4250/ PER MONTH W.E.F 1.03.1999

                                                            COMMITTEE’S RECOMMENDATIONS FOR 6TH BIPARTITE RETIREES.

      PENSION IS CALCULATED ON LAST DRWN PAY WHICH WAS REVISED IN CASE OF AWARD STAFF W.E.F 1.11.1992 AND FOR OFFICERS W.E.F 1.07.1993.

                                  ANOMALIES OF 7TH BIPARTITE RETIREES

                   PENSION HAS BEEN PAID ON THE BASIS OF 6TH BIPARTITE PAY SCALES AT 50%/40% FORMULA WITH MINIMUM OF RS4250/ FOR 50% SLAB PAY  OF RS8500/ AND ABOVE BASIC PAY OF RS8500/ AT 40%.

                                    COMMITTEE’S RECOMMENDATIONS FOR 7TH BIPARTITE RETIREES.

             THE MAXIMUM AMOUNT OF PENSION FOR PAY RS14240/ PER MONTH SHALL BE COMPUTED AT 50% OF PAY AND IF   THE PAY IS ABOVE RS14240/ PER MONTH BE COMPUTED AT 40% OF PAY W.E.F 1.11.1997 FOR AWARD STAFF AND W.E.F 1.04.1998 FOR OFFICERS .PENSION FOR THE PERIOD 1.11.1997/1.04.1998 TO 30.04.2005 BE MADE BY ARRIVING AT THE CORRESPONDING STAGE BY DIVIDING BY 1684 AND MULTIPLYING BY 1616 SUBJECT TO MINIMUM OF RS6883/ FOR 40% SLAB(-HALF OF 14240 MULTIPLYING BY 1616 AND DIVIDING BY 1684.) AND THEREAFTER AS COMPUTED SUBJECT TO MINIMUM OF RS7120/ W.E.F 1.05.2005.MAXIMUM PAY OF DMD WAS RS 23700/INCASE OF 7TH BIPARTITE SETTLEMENT AND BASIC PENSION SHOULD BE 50% OF RS23700/ AS RS11850/.

                            ANOMALY OF 8TH BIPARTITE RETIREES

           THE SHIFTING OF EFFECTIVE DATE FROM 1.05.2005 TO 1.11.2002 FOR CUT OF POINT OF RS21040// NOT ACCEPTABLE TO COMMITTEE CONSTITUTED BY M.O.F.

IT MAY BE THAT COMMITTEE PROTECTED THE VESTED INTRESTS OF OTHER NATIONALISED BANKS ,BECAUSE IN THEIR CASE ALSO PENSION WAS REVISED FROM 1.05.2005 FOR 8TH BIPARTITE RETREES NOT FROM 1.11.2002..

    LEGAL POINTS

1 WHEN THEN DEPUTY MANAGING DIRECTOR AND CDO SHRI ASHWINI MEHERA ON 14.12.2015 ADVISED BY EMAIL TO SHRI UPADHYAYA JI ”THE PENSION REGULATIONS IN STATE BANK OF INDIA ARE DIFFERENT FROM PENSION FUND REGULATIONS  OF OTHER NATIONALISED BANKS”   THEN WHY GOVERNMENT/BANK ARE IMPOSING PENSION REGULATIONS OF OTHER BANKS TO S.B.I RETIREES PARTICULARILY CLAUSE 16 OF7TH BIPARTITE SETTLEMENT IMPOSED ON S.B.I PENSIONERS;RETIREES

2  PENSION IS GOVERNED BY RULES/REGULATIONS  AND AN EMPLOYEE COMING WITHIN THOSE RULES/REGULATIONS IS ENTITLED TO CLAIM RIGHTFUL AND LEGIMATE PENSION.HOWEVER,THE COMMITTEE’S REPORT HASNOT MENTIONED THE RULES/REGULATIONS INTHEIR REPORT AND GOVERNMENT HAS ALSONOT MENTIONED THE RULES AND REGULATIONS IN THEIR ORDER.THIS SHOWS THAT GOVERNMENT SHOWS THE VESTED INTERESTSOF OTHER NATIONALISED BANKS.

 .

3 VIOLATION OF ARTICLE 14 AND ARTICLE 21 AND ARTICLE 300A OF THE CONSTITUTIONOF INDIA BYCREATING 50%/40% FORMULA FORPAYMENT OF PENSION TOS.B.I RETIREES.4 WHEN HON’BLE SUPREME COURT DECIDED ON 23.02.1989 IN THE W.P(C)305/1987 THAT PENSION SHOULD BE PAID AT 50% OF LAST 12 MONTHS AVERAGE’PAY’ THEN WHY 50%/40% FORMULA TOS.B.I PENSIONERS/RETIREES

 4 WHENI.B.A HAD ALSON ADVISED THE BANK IN2000 THAT PENSION REGULATIONSOF OTHER BANKS ARE NOT APPLICABLE TO S.B.I RETIREES THEN WHY 50%40% FORMULA FOR S.B.I RETIREES.

5OUR W.P(C)1875/2013 W.P(C)1931/2002 PREM VATIBAGGA &BOTHERS V/S UOI &OTHERS HAVEPRAYED 50% AS PENSION ANDQUASHINGTHE RULE23(2) FOR 40%SLAB TEN WHY GOVERNMENT /BANK HAVEDECIDED TO IMPLEMENT50%/40% FORMULA BYMAKING PEREDENCE FROM 1.03.199 TO31.10.2017(FROM 6TH TO 10THBIPARTITE RETIREES) AND ALSO WANTS TO THIS FORMULA OF50%/40%INFUTUREALSO I.E FROM 11TH BIPARTITE AND SOON

REGULATION 23(1)

THE PENSION PAYABLE UNDER regulation 22(REGULATION22 STIPULATE MINIMUM SERVICE FOR PENSION IN S.B.I)SHALL BE THE AMOUNT CALCULATED AT THE RATE OF ONE-SIXTIEST PART OF EVERY YEAR’S PENSIONABLE SERVICE OF THE AVERAGE MONTHLY SUBSTANTIVE  SALARY DRAWN DURING THE LAST TWELVE MONTHS.THIS FORMULA WAS IMPLEMENTED WE.F 1.1.1986.

       WITH THE ADVENT OF BIPARTITE SYSTEM IN BANKING INDUSTRY,THERE WAS A SUBSTANTIAL INCREASE IN BASIC PAY OF EMPLOYEES AND OFFICERS.HOWEVER,THE PENSION  CEILINGS REMAINED CONSTANHT AT RS750/ AND RS1000/,WHICH RESULTED EROSION OF CONCEPT OF 50% OF PAY.MANY SENIOR  OFFICERS STARTED DRAWING PENSION MUCH LESS THAN 50% OF THE LAST DRAWN PAY.THIS CREAT MUCH HEART -BURN.THE PENSIONERS’ ASSOCIATION DELHI CIRCLE APPROACHED THE HON’BLE SUPREME COURT FOR RELIEF,WHICH AFTER HEARING THE PETITIONERS GAVE A DIRECTION ON 23.02.1989 TO BANK TO ENHANCE THE PENSION CEILING TO RS2400/ PER MONTH W.E.F 1.1.1986.IT IS PERTINENT TO NOTE THAT WHEN THE SALARY SCALES WERE CONSTRUCTED AT 332 POINTS OF CPI,THE MAXIMUM BASIC PAY OF SENIOR MOST EXECUTIVE(DY MD) WAS AT RS4800/PER MONTH.THE COURT HAS UPHELD THE CONCEPT OF 50% OF BASIC PAY AS PENSION UPTO THE LEVEL OF DY MANAGING DIRECTOR.

                              ANOMALY OF 5TH BIPARTITE RETIREES

             ALTHOUGH PENSION HAS BEEN PAID AS PER RULE 23(1),HOWEVER,WITH A CEILING OF RS2400/ WHICH WAS HALF OF THE SALARY OFDEPUTYMANAGING DIRECTOR OF 4TH BIPARTITE SETTLEMENT WHICH ENDED ON 31.10.1987..SUBSEQUENTLY,WHEN THE SALARY REVISION TOOK PLACE W.E.F 1.11.1987,BASED ON MERGER OF600 POINTS OF CPI,THE SPIRIT OF HON’BLE SUPREME COURT SHOULD HAVE BEENN KEPT IN MIND AND PENSION CEILINGS SHOULD HAVE BEEN RAISED TO RS3775/ WHICH WAS 50% OF THE HIGHEST BASIC PAY OF SENIORMOST EXECUTIVE OF THE BANK.UNFORTUNATELY CEILING WAS NOTREVISED THOUGH PROPOSAL WAS PUT UPTO GOVERNMENT IN 1989.

                                                     COMMITTEE’S RECOMMENDATIONS FOR 5TH BIPARTITE RETIREES

      ”THE CEILING OF MAXIMUM PENSION IN SBI TO BE INCREASED FROM RS2400/ TORS3775/PER MONTH W.E.F 1.11.1987 BASED ON THE MAXIMUM BASIC PAY OF DMD WHICH WAS FIXED RS 7550/ ONTHE JOINT NOTE DATED 11.06.1989.”

                  IT HAS BEEN OBSEVED THAT COMMITTEE CONSTITUTED BY M.O.F DO NOT CARE REGARDING INTHE PAST AND DECISION OF1989 HAS NOW BEEN TAKEN IN 2017 AFTER 28 YEARS WHILE MAKING ARREARS OFPENSION TO 5TH BIPARTITE RETIREES.

 NOW QUESTION ARISES HOW MANY PENSIONERS OF 5TH BIPARTITE RETIREES SURVIVE NOW?

                                                ANOMALIES OF 6TH BIPARTITE RETIREES

                       THE NEXT WAGE REVISION MERGER OF 1148 POINTS OF CPI WHICH WAS EFFECTED FROM 1.11.1992 IN THE CASE OF AWARD STAFF AND 1.07.1993 IN THE  CASE OF OFFICERS,THE PENSION CEILING WERE REVISED TO RS4250/ PER MONTH W.E F 1.11.1993 WITHOUT TAKING INTO ACCOUNT THE ACTUAL SALARY SCALES DRAWN BY OFFICERS.THE HIGHEST BASIC PAY OF EXECUTIVE(DMD) WAS RS14800/ AND BASIC PENSION SHOULD BE RS7400/ PER MONTH BUT MAXIMUM WAS FIXED AS RS4250/PER MONTH .THIS HAS RESULTED IN FURTHER REDUCTION IN BASIC PENSION TO 28.71%.

IN FEBRUARY 1999 GOVERNMENT BROUGHT IN A CONCEPT OF 40% OF THE LAST DRAWN BASIC PAY OVER AND ABOVE RS8500/ PAY WITH MINIMUM OF RS4250/ PER MONTH W.E.F 1.03.1999

                                                            COMMITTEE’S RECOMMENDATIONS FOR 6TH BIPARTITE RETIREES.

      PENSION IS CALCULATED ON LAST DRWN PAY WHICH WAS REVISED IN CASE OF AWARD STAFF W.E.F 1.11.1992 AND FOR OFFICERS W.E.F 1.07.1993.

                                  ANOMALIES OF 7TH BIPARTITE RETIREES

                   PENSION HAS BEEN PAID ON THE BASIS OF 6TH BIPARTITE PAY SCALES AT 50%/40% FORMULA WITH MINIMUM OF RS4250/ FOR 50% SLAB PAY  OF RS8500/ AND ABOVE BASIC PAY OF RS8500/ AT 40%.

                                    COMMITTEE’S RECOMMENDATIONS FOR 7TH BIPARTITE RETIREES.

             THE MAXIMUM AMOUNT OF PENSION FOR PAY RS14240/ PER MONTH SHALL BE COMPUTED AT 50% OF PAY AND IF   THE PAY IS ABOVE RS14240/ PER MONTH BE COMPUTED AT 40% OF PAY W.E.F 1.11.1997 FOR AWARD STAFF AND W.E.F 1.04.1998 FOR OFFICERS .PENSION FOR THE PERIOD 1.11.1997/1.04.1998 TO 30.04.2005 BE MADE BY ARRIVING AT THE CORRESPONDING STAGE BY DIVIDING BY 1684 AND MULTIPLYING BY 1616 SUBJECT TO MINIMUM OF RS6883/ FOR 40% SLAB(-HALF OF 14240 MULTIPLYING BY 1616 AND DIVIDING BY 1684.) AND THEREAFTER AS COMPUTED SUBJECT TO MINIMUM OF RS7120/ W.E.F 1.05.2005.MAXIMUM PAY OF DMD WAS RS 23700/INCASE OF 7TH BIPARTITE SETTLEMENT AND BASIC PENSION SHOULD BE 50% OF RS23700/ AS RS11850/.

                            ANOMALY OF 8TH BIPARTITE RETIREES

           THE SHIFTING OF EFFECTIVE DATE FROM 1.05.2005 TO 1.11.2002 FOR CUT OF POINT OF RS21040// NOT ACCEPTABLE TO COMMITTEE CONSTITUTED BY M.O.F.

IT MAY BE THAT COMMITTEE PROTECTED THE VESTED INTRESTS OF OTHER NATIONALISED BANKS ,BECAUSE IN THEIR CASE ALSO PENSION WAS REVISED FROM 1.05.2005 FOR 8TH BIPARTITE RETREES NOT FROM 1.11.2002..

    LEGAL POINTS

1 WHEN THEN DEPUTY MANAGING DIRECTOR AND CDO SHRI ASHWINI MEHERA ON 14.12.2015 ADVISED BY EMAIL TO SHRI UPADHYAYA JI ”THE PENSION REGULATIONS IN STATE BANK OF INDIA ARE DIFFERENT FROM PENSION FUND REGULATIONS  OF OTHER NATIONALISED BANKS”   THEN WHY GOVERNMENT/BANK ARE IMPOSING PENSION REGULATIONS OF OTHER BANKS TO S.B.I RETIREES PARTICULARILY CLAUSE 16 OF7TH BIPARTITE SETTLEMENT IMPOSED ON S.B.I PENSIONERS;RETIREES

2  PENSION IS GOVERNED BY RULES/REGULATIONS  AND AN EMPLOYEE COMING WITHIN THOSE RULES/REGULATIONS IS ENTITLED TO CLAIM RIGHTFUL AND LEGIMATE PENSION.HOWEVER,THE COMMITTEE’S REPORT HASNOT MENTIONED THE RULES/REGULATIONS INTHEIR REPORT AND GOVERNMENT HAS ALSONOT MENTIONED THE RULES AND REGULATIONS IN THEIR ORDER.THIS SHOWS THAT GOVERNMENT SHOWS THE VESTED INTERESTSOF OTHER NATIONALISED BANKS.

 .

3VIOLATION OF ARTICLE 14 AND ARTICLE 21 AND ARTICLE 300A OF THE CONSTITUTIONOF INDIA BYCREATING 50%/40% FORMULA FORPAYMENT OF PENSION TOS.B.I RETIREES.4 WHEN HON’BLE SUPREME COURT DECIDED ON 23.02.1989 IN THE W.P(C)305/1987 THAT PENSION SHOULD BE PAID AT 50% OF LAST 12 MONTHS AVERAGE’PAY’ THEN WHY 50%/40% FORMULA TOS.B.I PENSIONERS/RETIREES

 4 WHENI.B.A HAD ALSON ADVISED THE BANK IN2000 THAT PENSION REGULATIONSOF OTHER BANKS ARE NOT APPLICABLE TO S.B.I RETIREES THEN WHY 50%40% FORMULA FOR S.B.I RETIREES.

5OUR W.P(C)1875/2013 W.P(C)1931/2002 PREM VATIBAGGA &BOTHERS V/S UOI &OTHERS HAVEPRAYED 50% AS PENSION ANDQUASHINGTHE RULE23(2) FOR 40%SLAB TEN WHY GOVERNMENT /BANK HAVEDECIDED TO IMPLEMENT50%/40% FORMULA BYMAKING PEREDENCE FROM 1.03.199 TO31.10.2017(FROM 6TH TO 10THBIPARTITE RETIREES) AND ALSO WANTS TO THIS FORMULA OF50%/40%INFUTUREALSO I.E FROM 11TH BIPARTITE AND SOON.

REGULATION 23(1)

THE PENSION PAYABLE UNDER regulation 22(REGULATION22 STIPULATE MINIMUM SERVICE FOR PENSION IN S.B.I)SHALL BE THE AMOUNT CALCULATED AT THE RATE OF ONE-SIXTIEST PART OF EVERY YEAR’S PENSIONABLE SERVICE OF THE AVERAGE MONTHLY SUBSTANTIVE  SALARY DRAWN DURING THE LAST TWELVE MONTHS.THIS FORMULA WAS IMPLEMENTED WE.F 1.1.1986.

       WITH THE ADVENT OF BIPARTITE SYSTEM IN BANKING INDUSTRY,THERE WAS A SUBSTANTIAL INCREASE IN BASIC PAY OF EMPLOYEES AND OFFICERS.HOWEVER,THE PENSION  CEILINGS REMAINED CONSTANHT AT RS750/ AND RS1000/,WHICH RESULTED EROSION OF CONCEPT OF 50% OF PAY.MANY SENIOR  OFFICERS STARTED DRAWING PENSION MUCH LESS THAN 50% OF THE LAST DRAWN PAY.THIS CREAT MUCH HEART -BURN.THE PENSIONERS’ ASSOCIATION DELHI CIRCLE APPROACHED THE HON’BLE SUPREME COURT FOR RELIEF,WHICH AFTER HEARING THE PETITIONERS GAVE A DIRECTION ON 23.02.1989 TO BANK TO ENHANCE THE PENSION CEILING TO RS2400/ PER MONTH W.E.F 1.1.1986.IT IS PERTINENT TO NOTE THAT WHEN THE SALARY SCALES WERE CONSTRUCTED AT 332 POINTS OF CPI,THE MAXIMUM BASIC PAY OF SENIOR MOST EXECUTIVE(DY MD) WAS AT RS4800/PER MONTH.THE COURT HAS UPHELD THE CONCEPT OF 50% OF BASIC PAY AS PENSION UPTO THE LEVEL OF DY MANAGING DIRECTOR.

                              ANOMALY OF 5TH BIPARTITE RETIREES

             ALTHOUGH PENSION HAS BEEN PAID AS PER RULE 23(1),HOWEVER,WITH A CEILING OF RS2400/ WHICH WAS HALF OF THE SALARY OFDEPUTYMANAGING DIRECTOR OF 4TH BIPARTITE SETTLEMENT WHICH ENDED ON 31.10.1987..SUBSEQUENTLY,WHEN THE SALARY REVISION TOOK PLACE W.E.F 1.11.1987,BASED ON MERGER OF600 POINTS OF CPI,THE SPIRIT OF HON’BLE SUPREME COURT SHOULD HAVE BEENN KEPT IN MIND AND PENSION CEILINGS SHOULD HAVE BEEN RAISED TO RS3775/ WHICH WAS 50% OF THE HIGHEST BASIC PAY OF SENIORMOST EXECUTIVE OF THE BANK.UNFORTUNATELY CEILING WAS NOTREVISED THOUGH PROPOSAL WAS PUT UPTO GOVERNMENT IN 1989.

                                                     COMMITTEE’S RECOMMENDATIONS FOR 5TH BIPARTITE RETIREES

      ”THE CEILING OF MAXIMUM PENSION IN SBI TO BE INCREASED FROM RS2400/ TORS3775/PER MONTH W.E.F 1.11.1987 BASED ON THE MAXIMUM BASIC PAY OF DMD WHICH WAS FIXED RS 7550/ ONTHE JOINT NOTE DATED 11.06.1989.”

                  IT HAS BEEN OBSEVED THAT COMMITTEE CONSTITUTED BY M.O.F DO NOT CARE REGARDING INTHE PAST AND DECISION OF1989 HAS NOW BEEN TAKEN IN 2017 AFTER 28 YEARS WHILE MAKING ARREARS OFPENSION TO 5TH BIPARTITE RETIREES.

 NOW QUESTION ARISES HOW MANY PENSIONERS OF 5TH BIPARTITE RETIREES SURVIVE NOW?

                                                ANOMALIES OF 6TH BIPARTITE RETIREES

                       THE NEXT WAGE REVISION MERGER OF 1148 POINTS OF CPI WHICH WAS EFFECTED FROM 1.11.1992 IN THE CASE OF AWARD STAFF AND 1.07.1993 IN THE  CASE OF OFFICERS,THE PENSION CEILING WERE REVISED TO RS4250/ PER MONTH W.E F 1.11.1993 WITHOUT TAKING INTO ACCOUNT THE ACTUAL SALARY SCALES DRAWN BY OFFICERS.THE HIGHEST BASIC PAY OF EXECUTIVE(DMD) WAS RS14800/ AND BASIC PENSION SHOULD BE RS7400/ PER MONTH BUT MAXIMUM WAS FIXED AS RS4250/PER MONTH .THIS HAS RESULTED IN FURTHER REDUCTION IN BASIC PENSION TO 28.71%.

IN FEBRUARY 1999 GOVERNMENT BROUGHT IN A CONCEPT OF 40% OF THE LAST DRAWN BASIC PAY OVER AND ABOVE RS8500/ PAY WITH MINIMUM OF RS4250/ PER MONTH W.E.F 1.03.1999

                                                            COMMITTEE’S RECOMMENDATIONS FOR 6TH BIPARTITE RETIREES.

      PENSION IS CALCULATED ON LAST DRWN PAY WHICH WAS REVISED IN CASE OF AWARD STAFF W.E.F 1.11.1992 AND FOR OFFICERS W.E.F 1.07.1993.

                                  ANOMALIES OF 7TH BIPARTITE RETIREES

                   PENSION HAS BEEN PAID ON THE BASIS OF 6TH BIPARTITE PAY SCALES AT 50%/40% FORMULA WITH MINIMUM OF RS4250/ FOR 50% SLAB PAY  OF RS8500/ AND ABOVE BASIC PAY OF RS8500/ AT 40%.

                                    COMMITTEE’S RECOMMENDATIONS FOR 7TH BIPARTITE RETIREES.

             THE MAXIMUM AMOUNT OF PENSION FOR PAY RS14240/ PER MONTH SHALL BE COMPUTED AT 50% OF PAY AND IF   THE PAY IS ABOVE RS14240/ PER MONTH BE COMPUTED AT 40% OF PAY W.E.F 1.11.1997 FOR AWARD STAFF AND W.E.F 1.04.1998 FOR OFFICERS .PENSION FOR THE PERIOD 1.11.1997/1.04.1998 TO 30.04.2005 BE MADE BY ARRIVING AT THE CORRESPONDING STAGE BY DIVIDING BY 1684 AND MULTIPLYING BY 1616 SUBJECT TO MINIMUM OF RS6883/ FOR 40% SLAB(-HALF OF 14240 MULTIPLYING BY 1616 AND DIVIDING BY 1684.) AND THEREAFTER AS COMPUTED SUBJECT TO MINIMUM OF RS7120/ W.E.F 1.05.2005.MAXIMUM PAY OF DMD WAS RS 23700/INCASE OF 7TH BIPARTITE SETTLEMENT AND BASIC PENSION SHOULD BE 50% OF RS23700/ AS RS11850/.

                            ANOMALY OF 8TH BIPARTITE RETIREES

           THE SHIFTING OF EFFECTIVE DATE FROM 1.05.2005 TO 1.11.2002 FOR CUT OF POINT OF RS21040// NOT ACCEPTABLE TO COMMITTEE CONSTITUTED BY M.O.F.

IT MAY BE THAT COMMITTEE PROTECTED THE VESTED INTRESTS OF OTHER NATIONALISED BANKS ,BECAUSE IN THEIR CASE ALSO PENSION WAS REVISED FROM 1.05.2005 FOR 8TH BIPARTITE RETREES NOT FROM 1.11.2002..

    LEGAL POINTS

1 WHEN THEN DEPUTY MANAGING DIRECTOR AND CDO SHRI ASHWINI MEHERA ON 14.12.2015 ADVISED BY EMAIL TO SHRI UPADHYAYA JI ”THE PENSION REGULATIONS IN STATE BANK OF INDIA ARE DIFFERENT FROM PENSION FUND REGULATIONS  OF OTHER NATIONALISED BANKS”   THEN WHY GOVERNMENT/BANK ARE IMPOSING PENSION REGULATIONS OF OTHER BANKS TO S.B.I RETIREES PARTICULARILY CLAUSE 16 OF7TH BIPARTITE SETTLEMENT IMPOSED ON S.B.I PENSIONERS;RETIREES

2  PENSION IS GOVERNED BY RULES/REGULATIONS  AND AN EMPLOYEE COMING WITHIN THOSE RULES/REGULATIONS IS ENTITLED TO CLAIM RIGHTFUL AND LEGIMATE PENSION.HOWEVER,THE COMMITTEE’S REPORT HASNOT MENTIONED THE RULES/REGULATIONS INTHEIR REPORT AND GOVERNMENT HAS ALSONOT MENTIONED THE RULES AND REGULATIONS IN THEIR ORDER.THIS SHOWS THAT GOVERNMENT SHOWS THE VESTED INTERESTSOF OTHER NATIONALISED BANKS.

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3VIOLATION OF ARTICLE 14 AND ARTICLE 21 AND ARTICLE 300A OF THE CONSTITUTIONOF INDIA BYCREATING 50%/40% FORMULA FORPAYMENT OF PENSION TOS.B.I RETIREES.4 WHEN HON’BLE SUPREME COURT DECIDED ON 23.02.1989 IN THE W.P(C)305/1987 THAT PENSION SHOULD BE PAID AT 50% OF LAST 12 MONTHS AVERAGE’PAY’ THEN WHY 50%/40% FORMULA TOS.B.I PENSIONERS/RETIREES

 4 WHENI.B.A HAD ALSON ADVISED THE BANK IN2000 THAT PENSION REGULATIONSOF OTHER BANKS ARE NOT APPLICABLE TO S.B.I RETIREES THEN WHY 50%40% FORMULA FOR S.B.I RETIREES.

5OUR W.P(C)1875/2013 W.P(C)1931/2002 PREM VATIBAGGA &BOTHERS V/S UOI &OTHERS HAVEPRAYED 50% AS PENSION ANDQUASHINGTHE RULE23(2) FOR 40%SLAB TEN WHY GOVERNMENT /BANK HAVEDECIDED TO IMPLEMENT50%/40% FORMULA BYMAKING PEREDENCE FROM 1.03.199 TO31.10.2017(FROM 6TH TO 10THBIPARTITE RETIREES) AND ALSO WANTS TO THIS FORMULA OF50%/40%INFUTUREALSO I.E FROM 11TH BIPARTITE AND SOON.

K.R. SAINI