We are happy to inform that the Ministry of Finance by their letter dated 5th March 2019 have granted approval for updating pension to the pensioners in RBI with a notional increase of 10% in pension plus DA with wage agreements done in 2002, 2007 and 2012. This results in overall increase in basic pension […]
WE find the autonomy and independence of the institution as imperative and integral part of any Central Bank of a Nation which in opinion of the Committee should not be compromised at any cost, especially, in matters relating to the service conditions of the employees viz recruitment, pay, pensions, etc.
The Committee, therefore, feel that statutorising the service Regulations under section 58 of
the RBI Act instead of allowing them to continue under Section 7 is likely to have an adverse impact on the overall freedom available to RBI besides causing procedural delays and urge the Government that the RBI (Staff) Regulations, 1948 may continued to be framed under Section 7 of the RBI Act, 1934.
General Secretary, Shri Aherrao has written a letter to Finance Minister Arun Jaitley on 19th September 16 for updating the pension in RBI. Another letter to the Governor Urjit Patel reiterating the resolution of our just demands is here.
Despite the SC orders to deposit the amounts in courts for payment to the petitioners, LIC plays foul, uses dilatory tricks, seeks repeated adjournments , feigns non-availability of counsels on due dates to drag the suits to all possible extents. Needless to say, these skills are an inseparable part of our Democratic Justice Delivery System.
Fed up with the Government’s tactics, the present RBI Governor included the problem with Government in para x.28 of the RBI Annual report 2015, which no earlier governor liked to do.
But, here we should not overlook the fact that reliance on bank’s circular or Regulation 5(2) would have become redundant had there been a specific regulation regarding updation of pension.
We will be hoping against hope and 2016 may dawn with lesser number of pensioners needing updation.
A silent Dharna was held at RBI Chennai on 2nd July 15 by the RBI retirees and all the working employees about the “unresolved problems of Pension updation and one more pension option etc.” A memorandum was “presented“ to the Board members. Incidentally, from other sources, it is learnt that the finance secretary was not…
After the signing of 10th bipartite settlement, a bipartite record note about the issues of the retirees in banks has surfaced. Important points made by IBA in the Note and our comments in the matter are: IBA OUR COMMENTS 1. Demand of retirees can be examined only as a welfare measure, as contractual relationship does not…
