Category Archives: sbi

Pension issues in SBI -Pension Fund Regulations 2014:

STATE BANK OF INDIA EMPLOYEES’ PENSION FUND REGULATIONS 2014—SUPREME COURT JUDGEMENT DATED 23.02.1989–COMMITTEE’S CONSTITUTED BY M.O.F ON PENSION MATTERS OF S.B.I–ITS RECOMMENDATIONS AND IMPLEMENTATION:


KRSaini_thumb.jpgOUR PENSION ISSUES REMAIN UNRESOLVED DUE TO  ADAMANT STAND BEING ADOPTED BY THE GOVERNMENT WHICH CLEARLY SHOWS FROM THE REPORT AND RECOMMENDATIONS OF THE COMMITTEE ON PENSION MATTERS OF STATE BANK OF INDIA.FOR THIS UNDERNOTED PRECEPTION ENTERTAINED BY VARIOUS OFFICIALS OF THE GOVERNMENT NEEDS TO BE ADDRESSED.BECAUSE OF ADDITIONAL BENEFIT MADE AVAILABLE IN THE FORM OF CONTRIBUTORY PROVIDENT FUND TO ITS EMPLOYEES BY STATE BANK OF INDIA,THE PENSION BENEFITS CANNOT BE PROVIDED TO THE FULL EXTENT OF 50% OF PAY TO ALL THE ELLIGIBLE PENSIONERS.

      THE QUESTION OF THE SUPERANNUATION BENEFIT IN THE FORM OF CONTRIBUTORY PROVIDENT FUND SCHEME AND THREE RETIRAL BENEFITS PROVIDED BY STATE BANK OF INDIA HAS BEEN ACCEPTED BY THE  GOVERNMENT AT THE TIME OF VERDICT BY SUPREME COURT ON 23.02.1989 W.E.F 1.1.1986 FOR 4TH BIPARTITE RETIREES FOR A SHORT PERIOD OF 1.1.1986 TO 31.10.1987.AS OUR PENSION SCHEME IS ARCHAIC PENSION SCHEME FROM THE TIME OF IMPERIAL BANK OF INDIA AND THEN STATE BANK OF INDIA W.E.F 1.07.1955.

           our bank did not conclude any pension settlement with serving federations either along with  OR SUBSEQUENT TO THE BIPARTITE WAGE SETTLEMENTS SO FAR CONCLUDED.OUR BANK HAS BEEN TAKING A STAND THAT ITS PENSION SCHEME IS INDEPENDENT OF INDUSTRY LEVEL PENSION SCHEME AND NO CONTRIBUTION TO BE MADE BY ITS EMPLOYEES TO ITS PENSION FUND.THE  CONTRIBUTION MADE BY OUR BANK TO OUR PENSION IS NOT REQUIRED, NOT TO BE DETERMINED ON THE BASIS OF THE AMOUNT ALLOCATED FOR PENSION FUNDING PURPOSES IN THE INDUSTRY LEVEL BIPARTITE WAGE SETTLEMENTS.

        THIS CONTRIBUTION WAS THEREFORE DETERMINED AS PER ACTUARIAL ASSESSMENT AND CONTRIBUTION BY OUR BANK ACCORDINGLY.IN THIS CONNECTION PLEASE REFER TO REGULATION NO 10 OF” STATE BANK OF INDIA EMPLOYEES’ PENSION FUND REGULATIONS 2014” OUR BANK WAS JUSTIFIED IN TAKING A STAND THAT IS OBLIGED TO BUILD UP ITS PENSION FUND ADEQUATLY WITHOUT ANY UNDER FUNDING.WHILE OUR PENSION FUND RULES PROVIDE FOR A STATUARY CONTRIBUTION AT AT 10% OF BASIC PAY TO OUR  PENSION FUND,IN TERMS OF  SECTION 38 OF STATE BANK OF INDIA ACT 1955,OUR BANK HAS BEEN PROVIDING MORE THAN10% OF BASIC PAY,AS PER ACTUARIAL ASSESSMENT TO OUR PENSION FUND.

                                              ARREARS OF PENSION AT 50%/40% PAY AS PENSION  1616-1684 C.P.I=1960

     IN ORDER TO PAY LESS ARREARS CLAUSE 16 OF THE 7TH BIPARTITE RETIREES IS IMPLEMENTED WHICH IS ILLEGAL.

                  IN THIS CONNECTION PLEASE REFER TO ORDER SHEET NO 1 W.P 1317 OF 2009 OF CALCUTTA HIGH COURT IN THE MATTER OF SHRI SALIL KUMAR GHOSH V/S STATE BANK OF INDIA & OTHERS——-THIS JUDGEMENT IN FAVOUROF AN AWARD EMPLOYEE OF 7TH BIPARTITE RETIREE AND THIS CASE IS IN THE KNOWLEGE OF” STATE BANK OF INDIA PENSIONERS’ ASSOCIATION BENGAL CIRCLE” AND SHRI SUJOY GHOSH  TO WHOM I AM ALSO SENDING THIS EMAIL.

COURT OBSERVED THAT IN CASE OF 7TH BIPARTITE RETIREE PENSION HAS BEEN CALCULATED ON THE BASIS OF PAY UNDER THE 6TH BIPARTITE SETTLEMENT,WHICH IS UNJUSTIFIED THEREFORE ORDERS BE PASSED INFAVOUR OF THE 7TH BIPARTITE RETIREE AND CLEARLY SAID THAT CLAUSE 16 IS FOR” REGULATIONS 1995” FOR OTHER BANKS AND STATE BANK EMPLOYEES SHOULD BE PAID AS PER” STATE BANK OF INDIA EMPLOYEES PENSION FUND RULES 1955”.HOWEVER, BANK DID NOT ABIDE THIS JUDGEMENT .AND SHRI SALIL KUMAR GHOSH PETITIONER DIED IN 2013.

             IN ANOTHER CASE SUPREME COURT DECIDED 50% PAY AS PENSION 1616-1684 C.A NO 5604/2010 DATED 13.02..2014 FOR PAYMENT OF ARREARS FROM DATE OF RETIREMENT TO 30.04.2005 WHOSE BASIC PAY WAS TREATED AT 1616 POINTS THE PETITIONER IS CANARA BANK EMPLOYEE SHRI DALIP KUMAR DEV. KINDLY VISIT ALL INDIA CANARA BANK RETIREES FEDERATION  WEB SITE AND” ALL INDIA BANK RETIREES FEDERATION”REFERENCE NO 2014/87 DATED 31.03.2014 LETTER ADDRESSED TO I.B.A BY SHRI S.C JAIN SECRETAY .HOWEVER, SHRI DALIP KUMAR DEV GOT THE ARREARS ON 1684POINTS FROM DATE OFBRETIREMENT TO 30.04.2005 AS PER SUPREME COURT JUDGEMENTLIKE KIRAN KUMAR JAIPURIA GOT THE REVISED PENSION NOT OTHER PENSIONERS.

K.R.SAINI

 


 

 

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Women Executives in Banks:

Image result for women executives in banksThe women empowerment started taking strides in independent India a few decades back, more so in Banking industry and it is increasingly gaining grounds day by day with their induction in almost all areas both in public and private undertakings with a requisite speed. It was in fact Swami Vibekanand who was the first Indian to play an ambassadorial role abroad promoting women empowerment while addressing the masses there as ‘Sisters and brothers’ as against the routine ritual then obtaining every where as ‘Brothers and sisters’. This remarkable utterance became a great tool in promoting and highlighting the significance at a great scale. Theirs is a major share in joining senior positions in different major Banks like State Bank of India and ICICI Bank where they occupy the most covetous a placement as their top executive level. Many take it as notional but the fact is the said incumbents are able to justify their role as such by working hard with competent managerial capability of a high quality. It is quite in tune with the Vedic culture of respect for women with the saying “…yatra nariyastu poojyantey ramantey tatra devta” (angels are present where ladies are respected/worshipped).

SBI -Chaotic working conditions:

Image result for chaotic working conditions in state bank of indiaThe premier banking organisation in the country State Bank of India has no  more a good health suffer as it does from many an anomalies on operation front and popularity amongst workforce itself and also the banking public, more so in its offices abroad. No any business organisation can afford flourishing if it is sans goodwill of the people in general and the working personnel in particular. Staff is deprived of any incentive for the last several years that counts and the issues like pensionary benefits including that of an improved pension to the retirees which is pending for a long time in different courts of Law and bilateral tiers. The honest handling of transactional virtue too is suffering from a colossal parameter and the dealings are no more above board. Commision aspect is talk of the town in all places with fishy deals. StImage result for chaotic working conditions in state bank of indiaaff shortage is a curse that has overgulped the avenues of a better service to the customers. Looks like this once called a giant bank of global significance is reduced to the status of a pigmy money lender. In the process the dignity of labour too is miserably lost. Working hours for all categories of the personnel which were brought into effect after several trade union leaders had to lay down their life to fetch this demand are badly mutilated forcing again an unlimited sort of working hours at all administrative offices and the branches. There is no replacement on retirements and deaths and the staff strength is getting reduced day by day with the result that the residual employees are overburdened with huge workload which again adversely affects the requisite attention to the important customers. If ‘it is never too late to mend’ is the adage, it is high time for the top management of the Bank to mend their overall modus operandi to repair and rejuvenate the system and style of working.


 

Pensioners Issues–Many a sips between cup and the lips:

It’s a sort of a renaissance period going on in relation to pensioners issues and every time a clinch to the problems look imminent some hurdle or the other jumps to the scene and it appears as if there is no end to such impediments. In reply to some of the enthusiasts, KR Saini has given a clarification that reads like this:

    ….,AS YOU ARE AWARE THAT FOR COMPUTATION OF PENSION PURPOSE BASIC PAY,PROFESSIONAL QULIFICATION PAY AND FIXED PERSONAL PAY ARE TO BE TAKEN.HOWEVER,NEITHER IN THE COMMITTE’S REPORT NOR IN THE APPROVAL LETTER THERE IS MENTIONED OF P.Q.P ANDF.P.P.SIR, WHILE CONVEYING APPROVAL OF REVISION OF PENSION FOR 8TH BIPARTITE RETIREES THIS TYPE OF MISTAKE OCCURED NOT INCLUDING F.P.P INTHE FIRST INSTACE AND ON TAKING UP BY THE BANK F.P.P WAS ALSOKRSaini INCLUDED FOR PENSION PURPOSE TO 8TH BIPARTITE RETIREES.IN THIS CONNECTION KINDLY REFER TO WEB SITE OF SBI PENSIONERS’ ASSOCIATION(MUMBAI)PUNE (BANK’S CIRCULAR) AT SERIAL NO4.SIMILARLY IN THE CASE OF 9TH BIPARTITE RETIREES P.Q.P AND F.P.P HAS NOT BEEN  INCLUDED FOR PENSION PURPOSE IN THE FIRST INSTANCE BY THE BANK.LATERON BY TAKING UP THE MATTER WITH GOVERNMENT THIS MISTAKE WAS ALSO RECTIFIED.IN THIS CONNECTION,KINDLY REFER CIRCULARS AT SERIAL NO 32 AND  34  OF THE WEB SITE OF SBI PENSIONERS’ ASSOCIATION (MUMBAI)PUNE.

         FURTHER,I HAVE TO ADVISE THAT ALL INDIA STATE BANK OFFICERS’ FEDERATION HAS ALREADY TAKEN UP  THIS ISSUE IMMEDIATELY WITH THE MANAGEMENT OF S.BI FOR INCLUDING P.Q.P AND F.P.P FOR PENSION   PURPOSE VIDE CIRCULAR NO 42.WE ARE REQUISTING THAT OUR PENSIONERS’ FEDERATION SHOULD ALSO TAKE UP THE MATTER IMMEDIATELY WITH S.B.I FOR RECTIFICATION  FOR   CALCULATION OF REVISED PENSION TO 7TH BIPARTITE RETIREES BY INCLUDING P.Q.P AND F.P.P.KINDLY DO REPLY ME.


 

Pensioners Issues–Many a sips between cup and the lips:

It’s a sort of a renaissance period going on in relation to pensioners issues and every time a clinch to the problems look imminent some hurdle or the other jumps to the scene and it appears as if there is no end to such impediments. In reply to some of the enthusiasts, KR Saini has given a clarification that reads like this:

    ….,AS YOU ARE AWARE THAT FOR COMPUTATION OF PENSION PURPOSE BASIC PAY,PROFESSIONAL QULIFICATION PAY AND FIXED PERSONAL PAY ARE TO BE TAKEN.HOWEVER,NEITHER IN THE COMMITTE’S REPORT NOR IN THE APPROVAL LETTER THERE IS MENTIONED OF P.Q.P ANDF.P.P.SIR, WHILE CONVEYING APPROVAL OF REVISION OF PENSION FOR 8TH BIPARTITE RETIREES THIS TYPE OF MISTAKE OCCURED NOT INCLUDING F.P.P INTHE FIRST INSTACE AND ON TAKING UP BY THE BANK F.P.P WAS ALSOKRSaini INCLUDED FOR PENSION PURPOSE TO 8TH BIPARTITE RETIREES.IN THIS CONNECTION KINDLY REFER TO WEB SITE OF SBI PENSIONERS’ ASSOCIATION(MUMBAI)PUNE (BANK’S CIRCULAR) AT SERIAL NO4.SIMILARLY IN THE CASE OF 9TH BIPARTITE RETIREES P.Q.P AND F.P.P HAS NOT BEEN  INCLUDED FOR PENSION PURPOSE IN THE FIRST INSTANCE BY THE BANK.LATERON BY TAKING UP THE MATTER WITH GOVERNMENT THIS MISTAKE WAS ALSO RECTIFIED.IN THIS CONNECTION,KINDLY REFER CIRCULARS AT SERIAL NO 32 AND  34  OF THE WEB SITE OF SBI PENSIONERS’ ASSOCIATION (MUMBAI)PUNE.

         FURTHER,I HAVE TO ADVISE THAT ALL INDIA STATE BANK OFFICERS’ FEDERATION HAS ALREADY TAKEN UP  THIS ISSUE IMMEDIATELY WITH THE MANAGEMENT OF S.BI FOR INCLUDING P.Q.P AND F.P.P FOR PENSION   PURPOSE VIDE CIRCULAR NO 42.WE ARE REQUISTING THAT OUR PENSIONERS’ FEDERATION SHOULD ALSO TAKE UP THE MATTER IMMEDIATELY WITH S.B.I FOR RECTIFICATION  FOR   CALCULATION OF REVISED PENSION TO 7TH BIPARTITE RETIREES BY INCLUDING P.Q.P AND F.P.P.KINDLY DO REPLY ME.


 

Pension Issues–developments:


I received a message on date as from one of the activists Rakesh Kumar Saxena the contents of which are yet to be authenticated but the same is reproduced here for the information of the pensioners, the retirees and the readers in general. They may apply their own sources for securing the authenticity on the issue. We shall be releasing necessary message to you all after the news is finally confirmed or it is the other way round.

Rakesh Kumar Saxena commented on your activity onWordPress.

Rakesh Kumar Saxena

October 13 at 12:28pm

This msg has been confirmed by Sri K P Rao ex GM . You can trust. [?][?][?][?][?][?][?][?] A Writ Petition filed 22/08/2016 by a group of SBI Pensioners in Delhi HC. WP admitted on 14/09/2016, with No 8085/2016. Relief claimed: (1) uniformly to all 50% of avg of last 12 months pay as pension (2) DA at qly intervals as paid to serving employees (3) periodical revision of pension with every salary revision (4) family pension @ 30% (min). Grant of all these reliefs within powers of Bank’s Board & no sanction of GoI required. WP prepared on basis of various SC & HC judgments, consultation with Sr advocates & reference to Pension Fund Rules & Regulations. About Rs. 9 lacs contributed by several Pensioners (including former Chairmen/MDs). Rs. 4.75 lacs spent till admission of WP. Much more money required. Appeal to all Pensioners & serving employees to contribute as much as they can, BUT REQUEST FOR MINIMUM OF Rs. 1,000/-. Contributions be remitted to Current Account No. 3520438380854 opened in names of Rajesh Rai, MMK Sardana & Umesh Sharma at Jagriti Vihar Branch, Meerut: Code:16607. IFS Code: SBIN0016607. After remitting contributions please SMS Umesh Sharma on 8979199558 giving details of name of remitter, city residing in, amount remitted & branch from where remitted. Details could also be mailed toumesh.sharma492@gmail.com. Details of WP & references posted on Team Meerut’s Facebook page. WP initiated by PPR Upadhyaya, Retd GM of Bangalore Circle now settled in Mysore. This WP different from one filed by Pensioners’ Federation many years ago before same HC. Latter has asked for only 50% of pay as pension and they made GoI made a party by which is not required. Please confirm it’s genuineness”

They kill us for their sports!


Small post:

Court

 

As flies to wanton the boys

So are we to Gods

They kill us

For their sports

It was not for nothing that Shakespeare penned the above lines –he in fact gave a clear message that those who are saddling the power do suffer from the propensity of harming others –be they the common people, workforce or any group of persons engaged in various tasks, needless to say that they include the workforce in Banking Industry in the country and are now the retirees besides a big number of them in the pipeline. The topic warrants a big narrative in the matter but is not considered relevant at the moment. What is more important is the attitude of the Government of India and bully bankers who are not prepared to lend their ears to hear their grievances, nay agonies, even after an abnormal lapse of time. Surprisingly the Law Courts too belong to the same citadel. Long back the Supreme Court of India ordered consolidation of numerous cases and they asked them to clinch the employees/pensioners’ grievances peremptorily. Nothing tangible occurred, the time frame allotted for the purpose was just ignored with the petition roving from Bench to Bench. New Bench with different judges was formed giving it the color of priority by fixing the hearing on day today basis. Now the tremendous shock that is let loose is to the effect that the next hearing is fixed at the end of 1st week of November’2016. Historically people in the workforce have to remind themselves of Britishers ruling India when their forefathers were recognised just as their subjects (Ghulaams) and nothing beyond that.