canara bank retired officers’ association (regd.)cbroa.co.in/pages/n b feb 2019.pdf · would like...

CANARA BANK RETIRED OFFICERS’ ASSOCIATION (Regd.)(Registered under Trade Union Act 1926) (Affiliated to AIBPARC)

1 & 70, First Floor, 9

Phone: 080

CBROA / News Bulletin / February/ 2019

Dear Friends,

MERGER OF BANK OF BARODA, VIJAYA BANK AND DENA BANK

The Central Government has approved on 02.01.2019 the merger of Bank of Baroda, Vijaya Bank and

Dena Bank, aimed at creating the country's third biggest Bank.

consolidation among the remaining 17 state owned Banks, marking the next big move

Reforms. The combined entity will have a strong presence across the country with more than 34% of low

cost deposits, a capital buffer of nearly 12% and a business level of Rs.14.82 lakh

Ministry sources the merger will he

involve synergies in the branch net

customers, one of the immediate and encouraging outcome will be an additional acces

of branches and ATMs. However, there are several reasons why this move to merge the three Public

Sector Banks may turn out to be

First, the merger of the three PSBs has been decided through the Alternative Mechanism

consolidation of Public Sector Banks constituted in November 2017, comprising three Cabinet

As per the provisions of the Banking

1970/1980, the Central Government must consult with Res

merger schemes for the Banks, and place them before both Houses of the Parliament for their

endorsement. The final power to decide on the merger/amalgamation scheme rests with Parliament.

Decision making on bank mergers through the ministerial mechanism amounts to an imposition from

above. This attenuates the functional autonomy of the Bank Boards and could adversely impact the

concerned Bank's business operations, financial health, morale of the Officers and emplo

confidence of the customers.

The PSBs concerned are quite diverse in terms of their size, business operations, organisational culture

and financial performance. While Bank of Baroda is a large Bank with total assets worth Rs.7.2 lakh crore

in March 2018, it is not in the pink of its health. BOB's return on assets was negative in 2017

capital adequacy ratio of around 12 per cent is not quite comfortably above the 10.875 per cent (end

March 2018) and 11.5 per cent (end March 2019) ear

framework.

Dena Bank has been under Prompt Corrective Action (PCA) framework of the RBI since last year and

restrictions on fresh credit and staff recruitment have been imposed this year because of its

deteriorating financials.

1

CANARA BANK RETIRED OFFICERS’ ASSOCIATION (Regd.)(Registered under Trade Union Act 1926) (Affiliated to AIBPARC)

Registered Office:

1 & 70, First Floor, 9th

Main, Jayanagar III Block, Bengaluru

Phone: 080 – 26640003 Email: [email protected]

BROA / News Bulletin / February/ 2019

MERGER OF BANK OF BARODA, VIJAYA BANK AND DENA BANK

approved on 02.01.2019 the merger of Bank of Baroda, Vijaya Bank and

Dena Bank, aimed at creating the country's third biggest Bank. This is seen as preparing the ground for

consolidation among the remaining 17 state owned Banks, marking the next big move

The combined entity will have a strong presence across the country with more than 34% of low

cost deposits, a capital buffer of nearly 12% and a business level of Rs.14.82 lakh

Ministry sources the merger will help improve operational efficiency and customer services, and would

involve synergies in the branch net-work, low cost deposits and subsidiaries. It is also touted that, for

customers, one of the immediate and encouraging outcome will be an additional acces

However, there are several reasons why this move to merge the three Public

Sector Banks may turn out to be counterproductive.

First, the merger of the three PSBs has been decided through the Alternative Mechanism

consolidation of Public Sector Banks constituted in November 2017, comprising three Cabinet

As per the provisions of the Banking Companies (Acquisition & Transfer of Undertakings) Act

/1980, the Central Government must consult with Reserve Bank of India while formulating such



ergers through the ministerial mechanism amounts to an imposition from

the functional autonomy of the Bank Boards and could adversely impact the

concerned Bank's business operations, financial health, morale of the Officers and emplo



March 2018, it is not in the pink of its health. BOB's return on assets was negative in 2017


March 2018) and 11.5 per cent (end March 2019) earmarked by the RBI for transitioning to the Basel III



CANARA BANK RETIRED OFFICERS’ ASSOCIATION (Regd.) (Registered under Trade Union Act 1926) (Affiliated to AIBPARC)

Main, Jayanagar III Block, Bengaluru – 560050

26640003 Email: [email protected] Date: 03.02.2019

approved on 02.01.2019 the merger of Bank of Baroda, Vijaya Bank and

This is seen as preparing the ground for

consolidation among the remaining 17 state owned Banks, marking the next big move in Banking

The combined entity will have a strong presence across the country with more than 34% of low

cost deposits, a capital buffer of nearly 12% and a business level of Rs.14.82 lakh crore. As per Finance

lp improve operational efficiency and customer services, and would

low cost deposits and subsidiaries. It is also touted that, for

customers, one of the immediate and encouraging outcome will be an additional access to a larger fleet

However, there are several reasons why this move to merge the three Public

First, the merger of the three PSBs has been decided through the Alternative Mechanism for

consolidation of Public Sector Banks constituted in November 2017, comprising three Cabinet Ministers.

Acquisition & Transfer of Undertakings) Act,

erve Bank of India while formulating such



ergers through the ministerial mechanism amounts to an imposition from

the functional autonomy of the Bank Boards and could adversely impact the

concerned Bank's business operations, financial health, morale of the Officers and employees and the



March 2018, it is not in the pink of its health. BOB's return on assets was negative in 2017-18 and its


marked by the RBI for transitioning to the Basel III



2

Although operating profits have remained positive for all the three PSBs, BOB and Dena Bank have made

net losses in the recent years on account of increased provisioning, mainly due to NPA write offs.

Despite write-offs, the NPAs of Dena Bank and BOB have continued to grow each year.

Vijaya Bank has been able to maintain NPA provisioning as well as bad loans accumulation at much

lower levels, which has enabled it to register positive profits. Therefore, growth of deposits and credit at

Vijaya Bank have witnessed a turn around since last year reaching 18.3 per cent and 22.9 per cent,

respectively in 2017-18. This stands in contrast to the performance of Dena Bank, which posted

negative deposit and credit growth over the past two years as well as the BOB, which has seen unsteady

growth in the past three years.

How does Vijaya Bank, which had a positive return on assets in 2017-18, much lower GNPA to Gross

Advances Ratio compared to others and a comfortable capital adequacy ratio, stand to gain from the

merger arrangement? The Union Government seems to be keen on penalizing Vijaya Bank for its better

performance by terminating its independent existence through the amalgamation proposal.

Amalgamation of Balance Sheets of the three PSBs will only alter the NPA and Capital Adequacy ratios

through financial engineering, without helping in the process, of actual NPA recovery. The process

initiated by the Government through the Insolvency and Bankruptcy Code (IBC) has not yielded the

desired results. According to publicly available information, out of the 26 cases that have been referred

to National Company Law Tribunals (NCLTs), only three cases have been settled till date, leading to

haircuts of over Rs.30,000 crore for the Banks. The legal regime has been tilted towards the corporate

defaulters, while the interests of the Public Sector Banks are being subverted. Emphasis laid on NPA

write offs have led to burgeoning losses for the Banks. What is required is an overhaul of the NPA

recovery regime, which makes it more effective, speedy and transparent. Exemplary penal action must

be initiated against willful defaulters and fraudsters in order to send a clear message. Unfortunately,

the political will required to adopt this course appears to be absent.

Further, the notion that we have too many PSBs in India and the number needs to be brought down

through mergers/amalgamations, is a prejudiced one which does not have any basis in economic theory

or empirical evidence. Bank Branch penetration continues to remain low in India compared to our

developing country peers, which warrants an expansion of bank branches. The claim that Mergers and

amalgamations always work to the advantage of all the parties and lead to synergies and greater

efficiency due to economies of scale, is not borne out by evidence. The recent experience of the merger

of the parent SBI with its subsidiaries has not been encouraging, which can be seen in the deteriorating

financials of SBI over the financial year.

The merger of Bank of Baroda, Vijaya Bank and Dena Bank will have added complications since these

Banks have no history of sharing business platforms. The organisational disruption caused in these banks

through the merger would relegate every other activity to the backstage. The Banks concerned will have

to do fire-fighting for the next few years, adversely affecting other banking activities, merely in order to

integrate people, processes, and procedures.

The outcome may well be lower operating profits and higher net losses on account of increasing

provisioning and NPA accumulation, which will outweigh any efficiency gain that is being projected.

Moreover, cost cutting measures through staff and branch rationalization will be severely detrimental to

the interests of the employees and will vitiate the industry climate.

3

However, one cannot expect alchemy in such a set up when the super structures do not change. While

mergers have been spoken of in the context of having large banks with larger lending capacity, in the

present circumstances, it appears to be more of a compromise solution of showing a lesser number of

Banks with better statistical numbers. The belief here is that, unless there is a change in the operating

structures, mergers will only be symbolic and may not deliver the desired results in the long run.

Counter intuitively, if we are willing to change the way in which public sector institutions function by

giving them autonomy along with accountability, we may not require such mergers. In any case PSBs

need to strengthen their organisational structure, tighten risk management and improve credit delivery,

all critical for turnaround.

In planning to build another mega bank through mergers of heterogeneous entities without seriously

attempting to reform governance issues the Government has embarked on a risky venture which can

make the PSBs more vulnerable than they already are. We may recall here the statement of Dr. Y V

Reddy, former Governor of RBI who had said “There is a global consensus that banks that are too big to

fail are sources of serious risk to financial stability”.

The bottom line is that to address pressing problems like low credit growth, deteriorating asset quality

and poor profitability of PSBs, merger is just not the way ahead. It might not even qualify as treating the

symptoms instead of the underlying disease.

We wish all our members and their families a good health all through your life.

Yours Sincerely

N Krishnamurthy

General Secretary

AIBOC News:

*AIBOC & NOBO Decided not to participate to attend any Wage Negotiation

talks unless full mandate is given by all 19 Public Sector Banks for Wage

nego0tiation for all Officers from Scale I to Scale VII: (Ref No. 2019/IBA/01 Camp:

Mumbai Date: 30.01.2019)

The Chairman Indian Banks’ Association

World Trade Centre Complex

Mumbai – 400 005

Sir,

Wage Negotiation: Negotiating Committee Meeting with Unions / Associations.

This has reference to your letter no. HR & IR / UFBU / XIBPS / 6688 dated 22nd January, 2019 addressed

to Shri Sanjeev K. Bandlish, Convener, United Forum of Bank Unions (UFBU), informing that the next

meeting of the Negotiating Committee of Indian Banks’ Association (IBA) with the representatives of

constituent Unions / Associations is scheduled on 2nd February, 2019 at Mumbai. In this context, we

4

would like to inform you that we, the following two Officers Associations, namely, All India Bank

Officers’ Confederation (AIBOC) and National Organisation of Bank Officers (NOBO) have taken decision

not to take part in the Wage Revision talks proposed to be held by you with the Officers’ organisations,

unless ‘unconditional (i.e. full) mandate’ is given by all the 19 Public Sector Banks for Wage Negotiation

for all Officers from Scale I to Scale VII.

It may please be recalled that the joint Charter of Demands (COD) of the four officers’ organisations

submitted to you on 5th June, 2017, it was clearly spelt out that negotiations should be for all officers up

to Scale VII. Therefore, it is imperative that IBA should have ‘unconditional (i.e. full) mandate’ from all its

Member Banks. It may be recalled that in the past, ‘Joint Notes’ covering wage e-mail:

[email protected] [email protected] website: www.aiboc.org revision for all scales of

officer employees had been signed by the IBA with the officers’ organisations on as many as 8 successive

occasions, i.e. in 1979, 1984, 1989, 1995, 2000, 2005, 2010 and 2015 and there is no reason that there

should be any deviation from the same in the process of 11th BPS.

It is observed with concern that 5 out of 19 PSBs have given ‘fractured mandate’ for Wage Revision upto

Scale III grade only and no fruitful effort is perceptible on your part to ensure that the remaining five

Member Banks also submit their ‘unconditional (i.e. full) mandate’. Instead, you are proceeding with the

Wage Negotiation process only up to Scale III, notwithstanding the fact that majority PSBs (14 out of 19)

have already conveyed their full mandate for Wage Revisions for all Scales of Officers.

This is totally in contravention of tested practice hitherto followed in the Industry and also not in tune

with the recommendations of the Pillai Committee Report. With the gradual erosion in minimum Basic

Pay of Bank Officers in comparison to Central Government Officers and relative decrease in the rate of

increase of salary of the officer employees in comparison to the subordinate staff and clerical staff over

the last two decades, this time the officers community in the banking sector is legitimately in the hope

of a just Wage Revision based on the concept of parity of pay of the Bank Officers with that of Officers of

other sectors – more particularly the Central Government Officers. We also expect the Wage

Negotiation talks to be based on the Charter of Demands, which is based on the principle of ‘Minimum

Wages’. As such, your regressive approach has not only disappointed the rank and file of the Bank

Officers / Executives, but also left them in a state of extreme de-motivation, distress and anguish. It has

also triggered off serious industrial unrest in the Industry for which the IBA is squarely responsible.

You are also aware that since officers are promoted from one scale to another in the Banking Industry

and accordingly fitment formulae is derived; if all the scales and increments are not decided

simultaneously, fitment formulae cannot be worked out and anomaly will be created. Hence, your

decision of holding wage talks only up to Scale III is illogical and irrational.

Under the above circumstances, besides expressing our inability to attend any Wage Negotiation talks

for only up to Officers in Scale III, we request you not to convene any such talks without resolving the

issue of Fractured Mandate.

Yours sincerely,

Sd/- Sd/-

(Soumya Datta) (Viraj Tikekar)

General Secretary General Secretary

AIBOC NOBO

5

*AIBOC to hold ‘Maha Morcha’ to protest bank amalgamation: (B Line 31.01.19)

To protest the amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda and delay in the

industry-wide wage negotiation process, the All-India Bank Officers’ Confederation (AIBOC) is planning

to organise a ‘Maha Morcha’ (big rally) in Delhi on February 4. The confederation, in a statement, said it

strongly condemns the haste with which the government continues to defy all guidelines in trying to

push through the merger of Vijaya Bank, Dena Bank and Bank of Baroda.

“The Delhi High Court has given notices to the Central Government on a writ filed by the AIBOC, and has

called for the complete documents to be presented on February 13.

“The merger plans of regional rural banks are also equally condemnable with no perceptible gains to the

economy, but will definitely pose hurdles/difficulties to ordinary farmers/artisans,” said Soumya Datta,

General Secretary.

Deploring the stand adopted by the Indian Banks’ Association on bipartite wage negotiations, the

confederation said the association has disregarded the majority member banks (15) that have submitted

‘unconditional mandate’ for the bipartite negotiations, and refuse to negotiate for the entire officer

community stating that five banks have submitted only ‘fractured mandate’.

“We are aggrieved that the RBI, despite having powers to regulate and control private sector banks, and

despite having two officials in the board of Catholic Syrian Bank, has so far been a mute spectator.”

CBPRO News:

*Dharana & Demonstration at various Cities - organised by CBPRO & AIBRF Leaders:

At Jabalpur: the program was organized on 27.12.18 at the campus of Allahabad Bank, Civil Lines, and

Jabalpur. More than 400 retirees took part in the demonstration. The leaders of CBPROA & AIBRF

addressed the gathering. Prior to Demonstration, a Press Conference was also held, highlighting the

issues of Bank retirees.

At Patna: CBPRO & AIBRF Leaders have organized impressive procession at Patna on 29.12.18. More

than 500 Retirees have participated in the Demonstration Programme. Com H N Agarwal of AIBPARC &

Com. Sunil Srivastava of AIBRF have addressed the gathering.

Dharana & Demonstration at Pink City of Jaipur: Massive Dharana & Demonstration by Pensioners &

Retirees held on 10th January, 2019 at the call of CBPRO & AIBRF in front of Zonal office of Allahabad

Bank. Top Leaders of both orgnaisations have addressed the huge gathering. Com. R C Agarwal, former

President of AIBOC was the main speaker.

At Lucknow: Day long Dharana & Demo organised at Lucknow on 11th

January, 2019 in front of

Allahabad bank, Hazratganj branch. In spite of the inclement weather, retirees have participated in a

large number.

6

Historical Dharana – cum Demonstration at New Delhi: It was extremely cold & foggy day at Delhi on

07.01.2019. But this couldn’t keep the retirees at home. Several thousands of Bank Pensioners &

Retirees have participated in the programme.

Comrade Debasis Ghosh, President, AIBOC was the first speaker. He made a bold declaration in the

midst of applaud that AIBOC would not be the Party to any bilateral agreement unless the reasonable

demands of the retirees are not addressed.

Com. Ramesh Babu, General Secretary of SBI Pensioners’ Association and Joint Convener, CBPRO, Com.

S C Jain, General Secretary of AIBRF were the main speakers and both have thanked the retirees who

assembled in a large number and exhibits high enthusiasm & energy. Both expressed that most logical

demands of Retirees will definitely be met with. Com. K V Acharya also spoke on the occasion.

Com. D Raja, Honorable Member of Parliament, assured the gathering that he will support Retirees

demands of banks and will raise the issues in Parliament.

At the end of the Programme, Leaders of various organisations met the Secretary of Department of

Financial Services, Govt of India and submitted a memorandum.

Massive Dharna at Chennai: Massive Dharana & Demonstration programme was organised by Leaders

of CBPRO & AIBRF on 8th

January, 2019 at Chennai. The response was tremendous and surpassed all the

expectations. Not only members of CBPRO & AIBRF, members belonging to other outfits have also

participated in the programme. Com. Franco, former General Secretary of AIBOC was the main speaker.

Spectacular Show of strength at Azad Maidan Mumbai: 11th

January, 2019 is a red letter day for Bank

retirees’ movement in Mumbai. Retirees have gathered in huge numbers and held a massive Dharna &

Demonstrations to express their deep sense of anguish, resentment, protest and anger at the neglect of

their long pending issues by IBA & Govt of India. Com. Ramesh Babu, the joint Convener of CBPRO &

Com. S M Deshpande, President of AIBRF were the main speakers.

At the end of the programme, a strong delegation of retirees lead by Com. Ramesh Babu & Com. S M

Deshpande called on the office of IBA and submitted a memorandum on different issues. The Leaders

discussed and explained to IBA executives the justification of these issues and urged upon them to be

sensitive to the elder citizens of the industry. IBA Executives well received the delegation & informed

that IBA is open on these issues and would examine them.

Similar Programmes of Dharna & Demonstrations were held at different places viz, Hyderabad,

Vishakhapatnam, Vijayawada, Bhubaneswar, Dehradun…etc. Retirees have shown solidarity, &exhibited

strong bondage and unity. CBROA Leaders & Members have attended in large numbers in respective

places & instrumental in making these programmes a grand success. CBROA congratulates &

appreciate the Leaders and Members for the participation and gallant show.

*A Fervent Appeal by All Bank Pensioners & Retirees to Prime Minster: (CBPRO &

AIBRF Letter Dt. 15.01.19)

Shri Narendra Modi ji

Hon’ble Prime Minister of India

Prime Minister’s Office, New Delhi

7

Honorable Sir,

A Fervent appeal by All Bank Pensioners & Retirees

Improvement in Family Pension and Updation of Pension.

Bank Pensioners and Retirees all over the country massively responded to the call given by the

Coordination committee of CBPRO & AIBRF in 30 cities including State capitals, Delhi & Mumbai. More

than 1,00,000 Bank Retirees participated in the programmes expressing their agony and anxiety

regarding their long pending issues unmindful of the peak cold weather conditions. The Senior Citizens

of the Banking Industry want redressal of their grievances by Your Government which is known for its

objectivity, transparency, speed and fairness in disposal of the pending issues. Having served the

country during the prime time of their life implementing, all the Policies and Programmes of the

Government they fondly look forward to Your Good selves for the much awaited relief of all their

grievances and particularly the following two most important issues.

1. Uniform 30% Family Pension at par with Government and Reserve Bank

(a) Presently the Family Pension effectively works out to merely 7 to 10% of the last drawn Basic Pay to

most of the Family Pensioners. In other words it is a meager amount ranging from Rs 4000/- to Rs

14000/-. Whereas the Government and RBI Pensioners are paid Family Pension uniformly at 30%

without any ceiling.

(b) Un-affordability of proposed improvement in Family Pension is being arbitrarily quoted to deny the

benefit despite there being adequate provision made during the service tenure of the employee by the

Bank for payment of full Pension to its employee. Thus Family Pension being lesser than the Pension of

the Employee, it would rather involve a negative cost to the Pension Fund without any burden on the

Balance Sheet of the Banks.

(c)Family Pension is an emotive issue since it concerns large number of widows. In fact during the last

wage settlement by way of Record Note dated 25.05.2015 Improvement in Family Pension was assured

but unfortunately it still remains unresolved.

(b) Updation of Pension:

(a) Pension Updation has not been given to SBI Pensioners, Government and Private Sector Banks

Pensioners. As per Judicial Pronouncements & Pension Regulations Updation of Pension is a Natural

Corollary to the Pension Settlements. Pension and Updation of the same are inseparable.

(b) Our request for Updation is not a request for any fresh benefit but a request to implement Pension

Regulation 35(1) which provides for Updation of Basic Pension and Additional Pension.

(c) IBA has not been considering the benefit of Pension Updation quoting the cost consideration despite

clear provision in Pension Regulation 35(1) and Pension being a Deferred Wage and a property under

Articles 19(1) (f) and 31(1) of the Constitution of India. It is also a statutory obligation of the Banks which

are State within the meaning of Article 12 of Constituents of India.

(d) Pension including updated Pension and Family Pension become payable out of Pension Fund. The

present Pension Fund of the Public Sector Banks including State Bank of India is quite robust and healthy

8

at more than Rs. 300,000 crores with potential to afford payment of 3 to 4 times of present

disbursements on account of Pension and Family Pension.

(e) In Banks Pension is paid out of Pension Fund which is created by the surrender of the mandated

management contribution of Provident fund by the Bank to their Employees and Officers during their

service. Pension is not paid out of profits but out of the Pension Fund so created. Hence payments so to

be made as per Pension Regulations will not affect the Balance Sheet of the Banks. Provision, If any, for

Pension Fund is a charge on Profit & Loss A/c and hence is not payable out of net profit of the Banks. Net

profit has to be arrived at only after making all provisions including for payment of Salary and Pension

which are statutory in nature.

The present Pension Fund including SBI is quite robust and healthy at more than Rs 3,00,000/- crores

with potential to afford payment of 3 to 4 times of the present disbursements on account of Pensions.

Honorable Sir, We have fond hope of getting justice at your hands and hence we on behalf of more than

5,00,000 Bank Pensioners and Retirees make an earnest and fervent appeal to your good self to consider

our above requests favourably and help resolve the same by advising Indian Banks Association and Dept

of Financial Services, Ministry of Finance, Govt of India immediately as large number of Retirees are in

their very advanced age and in the late evening of their life. We trust and hope Your Good Self will

render justice to the Senior and Super Senior Citizens of the Banking Industry.

With Respectful Regards,

Yours faithfully,

(A Ramesh Babu) (K V Acharya) (S C Jain)

Joint Conveners– CBPRO Gen. Secretary-AIBRF.

CBROA News: *Members Meeting at Tirunelveli: (P Anandaraj, RS)

CBROA UNIT, Tirunelveli meeting was held on 30th Dec, 2018 at 11 am at PALAYAMKOTTAI branch. Mr.

Muthusamy senior member preside the meeting .Around40 members attended. Mr. Anandaraj

welcomed the gathering. Mr. Lakshmanan briefed the biennial recently held in Mangalore.

Mr. Varagunan, CC member shared deliberations & informed the members in detail about successfully

conducted Mangalore Conference. He also informed the gathering about writ petition filed in HC of

Karnataka and requested members to contribute generously to the legal fund. He also highlighted the

importance of membership growth and requested members in mobilizing membership to achieve the

goal of 15000 members by 2020. Regional committee is formed. Medical claim form and bank calendar

are distributed to all. The meeting was concluded with vote of thanks by Hajee. Rehmathulla who

hosted lunch.

*New year’s First Weekly Wednesday meeting of the Members at Mangalore n

02.01.2019: First weekly meeting of the New Year had an impressive attendance of 35 members. Sri K S Balachandra

Rao presided. Mr. B V Pai, Vice President of CBROA, Mr. P Srinivas Pai and Mr. Lakshmikanth Nayak

were on the Dias. Mr. B V Pai greeted all the members on the occasion of New Year. He said he couldn't

9

be part of two earlier meetings due to personal reasons. He said the Biennial Conference was a

memorable event, very meticulously conducted with the whole hearted support and involvement of

every member. He invited members to give feedback both positive as well as negative regarding the

overall conduct of the Biennial. There were suggestions to cut down some of the expenditure. All those

points will be placed before CC in the next meeting.

A healthy discussion was held on Circular 618/2018 on Scheme for extending Legal and Financial support

to serving and retired employees and Officers. It was felt that the Circular is not clear on many points. As

our CBROA Grievances Committee meeting is due shortly it is decided to send a detailed letter to Central

Office which may help in sorting out many cases and to know whether they are covered under the

policy.

In the meeting the declarations under Staff Welfare Measures were collected from 26 members and

submitted to HRM Section. It was felt that the contributions from Mangalore Region towards CBROA

Legal Fund is not encouraging. All other regions such as Hyderabad, Coimbatore, Madurai, Mumbai etc

have contributed impressive amounts over Rs 1.50 lakh. Mr. B V Pai requested all members to

contribute generously. He himself announced contribution of Rs 15000.00 for the Legal Fund. There

were many other members who contributed on the spot. Mangalore will also be in the reckoning in a

few days time. The house decided to donate Rs 3000.00 to SAHAAYA & Mangalore Senior Citizens

Association (MASCA) for the annual sports and Cultural Festival to be held on 19th January 2019.

Mr. K S Balachandra Rao thanked all members for good discussion on some important topics. He also

thanked Mr. C Karunakar Pai for sponsoring the day's refreshments to celebrate his Birthday which was

on 1st of January.

*Meeting of Members at Pondicherry: (Mr. Vijakumar, RS)

We have conducted our Members Meeting yesterday 6.1.19 at Cuddalore Branch. Mr.

Ganesasubramaniam presided over the meeting. 27 members attended. Mrs. Rajlakshmi, Mrs. Sivakalai

Professors of SKY YOGA explained the necessity of keeping the MIND and BODY Hale and healthy. Very

simple exercises compatible to the age were explained. Sri K Kasinathan Regional Secretary, CBROA

Chennai dealt with seniors issues and offered tips to avoid age related incidents like bed fall etc. Mr.

Varatharajan disclosed secrets of being the CHAMPION in sports activities among seniors. He also

appealed for becoming life member of CBROA.

R Vijayakumar appealed for strengthening Membership and generous contributions to the LEGAL FUND

as this is one of the most important way out to get our genuine and reasonable demands of our and

family pension. On the spot, cheques were collected from members to the tune of RS 11000. Sri R

Mohan Vice President spoke at length about the recent developments in the industry,

Conference, Gratuity, Insurance, etc. Mr. Karamchand Mohan submitted application for Membership.

Photos of the conference were shown by the projector arranged by our New member Shri R

KANAKARAJAN. The meeting came to end with vote of Thanks.

*Massive Dharna at Vijayawada: ((M Jayaraju, RS)

CBPRO & AIBRF Leaders of Vijayawada Region have arranged Dharna & Demonstration programme on

07.01.2019 at Dharna chowk, Vijayawada on 07.01.19. More than 400 retirees of all Banks have

participated in the programme. Almost all our (CBROA) members of Vijayawada City have participated in

Dharna. Good number of lady members also participated and they have given slogans from Dias. State

10

level leaders from retiree organizations and UFBU addressed the members. The programme was

concluded with passing of a resolution, demanding immediate settlement of all pensioners’ issues.

*CBROA MADURAI Members Meeting: (M Panneer Selvam, RS)

Members meeting of Madurai Region was held on *07 01 2019* at 5.30pm at our Grand Central Branch

Madurai. Despite winter weather around 45 members including 2 Lady Comrades attended the meeting.

Sri M Panneer Selvam, Regional Secretary welcomed the gathering and solicited support of members for

his effective functioning. The meeting was presided over by Sri S Rajagopal, the senior most member of

CBROA. He congratulated the newly elected office bearers and wanted more representation for Madurai

Unit considering tremendous growth of Membership and vast geographical area. He also desired to have

a grievance redressal cell with infrastructure to enable the retirees to visit and represent their issues

for solutions.

Sri M N Manoharan, Assistant General Secretary thanked the members for their presence in large

numbers in the Biennial Conference held in Mangalore on 1st & 2nd Dec'18. He explained in detail the

outcome/deliberations held in Biennial and appreciated Team Mangalore for the excellent

arrangements made. He also detailed various welfare schemes of CBROA such as reimbursement of

hospitalisation expenses, Death relief and honouring of our members who attained 75 years of age. He

informed that one of our members, Sri S N Jyothinath, Retd SM was honoured by our Central Leaders in

the Biennial.

Sri M N Manoharan also detailed Banking Scenario, our participation in the demonstrations held at

Madurai on 21st and 26th Dec'18, coinciding with All India Bank Strike days, Dharnas held by CBROA

Members at Bhubaneswar, Hyderabad, Vijayawada, Chennai, Jantar Mantar, New Delhi along with our

apex retirees organisations. He explained various pending issues of our retirees and doubts over

gratuity, DA, Special pay issues and urged our apex organisations to resolve them early.

He also explained in detail the efforts made by our Central Leaders for filing a suit in the High Court of

Bangalore for updation of Pension and opening of CBROA Legal fund account(2725 111 001888)to meet

the huge legal expenses. He profusely thanked members for their spontaneous response with their

generous contribution of Rs1,79,114/ as on date. He appealed to other members also to donate liberally

for the cause of our legal battle. He requested members to enroll non member retirees in order to

strengthen our organisation. Two of our non members are enrolled on the spot as our Life members.

For the benefit of our members, Sri M Panneer Selvam, RS distributed Claim forms for Staff welfare

expenses and collected back the filled in forms for submitting to HRM Section CO Madurai.

Sri S V Krishnamoorthy Retd DGM was pleased to note family pensioners are made as our associate

members and wanted us to support the bereaved family in getting the relevant certificates such as

death certificate, legal heir certificate etc and also to compile the formalities for family pensioners.

Members expressed that HO Pension Fund has not yet provided DA arrears calculation sheets. They

appreciated the costly kit provided to all the Biennial delegates and wanted small compliments be

provided to those who could not attend. It was also opined to have the regional coordination committee

for focused Membership drive and unit meetings in districts like Theni and Dindigul. It is also decided to

post only matters pertaining to retirees in our WhatsApp group, good morning, religious, political,

birthday messages etc may be posted on individual, one to one basis privately.

11

The AGS thanked Sri M Meenakshi Sundaram, Retd DGM for sponsoring the sumptuous dinner. He also

thanked Sri S Deenadayalan, Retd SM for ensuring media coverage of CBROA and retirees issues.

The meeting came to an end at 7.45pm with a vote of thanks proposed by Sri K Thirugnana Sambandam.

*Members meeting Trichy: Our Trichy Region conducted members meeting on 09 01 2019 at Conference Hall, R O, Trichy. 36

members attended the meeting. Mr. I Noorullah presided over the meeting. Mr. M Arumugam, R S

welcomed the gathering. Our AGS Mr. M N Manoharan, from Madurai, who was the Chief Guest, &

delivered wonderful speech covering the following:

a) Mission 10000 (membership) now 9782. b) Benefits of the retirees. c) Health Insurance scheme. d)

Regional setup of CBROA Madurai Circle (3 Regions). e) Benefits of Life Membership Requesting

members to upgrade Annual Membership to Life Membership.

f) Developments and Resolutions etc in the recently concluded CC and Biennial Conference held at

Mangalore on 1st and 2nd December 2018. g) Development in the writ filed by CBROA in Karnataka High

Court for pension upgradation. h) DA issues of pre 2002 retirees. j) Gratuity enhancement of 20 lak w e f

01. 01. 2016. k) Accountability issue of retirees. l) Additional pension issue above 80 and 90 years as in

the case of central and state Govt employees. m) Mother Bank developments

n) Employment opportunities of retirees such as ERO, DSA and Recovery Agents.

We are happy to inform that Regional Committee was formed with (9 members) the following members:

Mr. I Noorullah, Mr. L Alex, Mr. S Manickam, Mr. Madasamy, Mr. Meenakshi Sundaram and M

Subburathinam all from Trichy, Mr. J Kannan from Kumbakonam, Mr. Kannaiyan from Pudukottai and

Mr. Raju from Perambalur.

Nr S Ganesan, R S played Anchor role and coordinated the meeting. Mr. S Rajaraman, R S gave vote of

thanks and meeting ended.

*Meeting of Members at Bhopal: Bhopal members meeting was held on 9.1.19 we had a meeting of members of Bhopal at Indian Coffee

house , Kolar Road Bhopal . Meeting was started under the chairmanship of our senior member Sri N S

Raghuwanshiji. We welcomed our two retiree members Sri P A Deshpande ji n M K Jindal ji and they

joined CBROA by tendering membership form. We have given the details of discussion, deliberation and

decisions of recently taken at biennial conference at Mangalore. We have requested all the members to

contribute generously for legal fund and the members have happily given their contribution. On the spot

we could collect Rs 16800/-. Apart from this both the new members Deshpande ji n Jindal ji have taken

LM and H S Jha ji converted their membership a/c to L M by tendering differential amount cheques.

.Meeting ended with vote of thanks given by Sri Raghuwanshi sir.

*Members Meeting Rajahmundry: (Dr Karunakar Saka, RS) Dr Karunakar Saka, the Regional Secretary, welcomed the gathering and also welcomed the new

members Sri G Someswarar Rao and Sri V Ravindra . He spoke on the following points:

a. Updation of Pension. b. Increase in Family Pension and c. 100% neutralization of Dearness Relief to

pre 01.11.2002 Retirees. d. Enhanced Gratuity to be paid to all the Bank Staff who retired on or after

01.01.2016 on par with the Central Govt. Employees. e. spoken about the proceedings of the biennial

Conference, f. Writ Filed by CBROA regarding “Updation of Pension“ at Bangalore High Court.

g. need to contribute a minimum of Rs.1000/- by each member to meet the legal expenses. h. CBOA

12

Benevolent Fund extension to our members. All the members have actively participated in the

discussions.

Our Veteran member Sri A Bapi Raju has spoken on fitness and good health. Sri DV Prasada Rao GM Co

Vijayawada and Sri Ananda Rao AGM, RO Rajahmundry also participated in our Meeting. Sri DV Prasada

Rao appreciated the efforts of CBROA and he requested our Members to guide and nurture the young

officers in the Bank about the Systems and Procedures. GM has assured every help to the retirees from

Circle office. The Meeting ended with Vote of thanks by Sri V. Ravindra followed by Dinner.

Sri Ananda Rao AGM RO Rajahmundry has offered dinner and also presented pleasantries to retirees.

*CBROA Membership Position as on 31.01.2019: Number of New Members enrolled during January, 2019 103 The serial number of the last member enrolled during January, 2019 9838

CANARA BANK News:

Canara Bank Q3 net up 152% at 318 cr (Uma Kannan, DH News Service, Bengaluru, JAN 28 2019,

15:39PM IST UPDATED: JAN 29 2019, 10:03AM ISt)

Public sector lender Canara Bank on Monday reported a massive jump of 152% in net profit at Rs 317.52

crore for the third quarter ended December 2018, aided by strong growth in domestic advances and a

healthy CASA growth. The bank had logged a net profit of Rs 125.75 crore in the corresponding quarter

of the last fiscal. Its net interest income improved to Rs 3,814 crore, an increase of 3.66% from Rs 3,679

crore in the year-ago period. The bank's domestic net interest margin (NIM) improved to 2.85% and

global NIM at 2.65%. The bank's total income stood at Rs 13,513.35 crore, an increase of 9.49%

compared to Rs 12,341.09 crore. PV Bharathi, executive director of the bank said the amount of gross

NPAs stood at Rs 44,621.27 crore compared with Rs 40,311.98 crore. However, the percentage of gross

NPAs stood at 10.25% compared with 10.38% in the third quarter of the last fiscal...

Net NPAs of the bank went up at Rs 26,591.07 crore in the third quarter compared with Rs 25,295.26

crore. "The bank is taking a multi-pronged approach in terms of cash recovery. As far as recovery is

concerned, there are proper policies in place. in the third quarter, cash recovery aggregated to Rs 2,814

crore," she said. The provision coverage ratio has improved by 670 bps to 62.54% from the December

2017 level of 55.81%. The bank's global business rose to Rs 9.93 lakh crore, up by 13.2%, driven by

higher growth of 15.7% Y-o-Y in domestic business. Also, in the third quarter, the bank's CASA deposits

were up by 10.66% at Rs 1.74 lakh crore, and CASA share (domestic) stood at 32.23%.

Bharathi said, "By the end of this fiscal, we are aiming to touch CASA deposits of Rs 2 lakh crore." The

bank's capital adequacy ratio stood at 12.21% and its e-transactions ratio rose to 80.19% from 76.22%, a

year ago. Going forward, the bank aims at improving the bottom-line further with balanced thrust on

both retail and corporate advances. The Bank's shares closed at Rs 240.30 on Monday, down 5.23% from

the previous close.

*Farewell to Madam P V Bharathi:

13

Farewell by Canara Bank CBROA wishing Madam on her elevation & future endeavor

Farewell Message by Madam.

Dear Members of Canbank Family,

As you are all aware, today, is my last day in our beloved Bank – CANARA BANK. A name, we would say

with pride & head held high. As I move on to my position as MD & CEO of Corporation bank from

tomorrow, I just wanted to share my loving memories with you. My tenure of 37 long years in our

beloved Bank, has been years of success, achievement & pride. Through this long journey, I had the

opportunity to work and associate with some of you & share my thoughts. But, I can definitely say with

utmost sincerity that each one of you, have contributed to me for what I am today with your valuable

suggestions & guidance.

I owe my respects & gratitude to my seniors, mentors & teachers, who have shown me the path to

tread. I am grateful to all my colleagues, who have contributed with their best when I was heading

branches or in administrative Offices. My Colleagues from HO have accepted me in the various

Committees and given me a space to voice my opinion, discuss & deliberate. Each day was a new

learning wherever I worked. I have enjoyed my tenure & I sincerely appreciate having had the

opportunity to work with all of you at different places during this journey. I sincerely thank you for your

support, guidance & encouragement you have provided me during my time in our beloved Organisation.

Even though, I will be missing you from tomorrow, on positive note, I am looking forward to take up my

new assignment & to start a new phase of my career as MD & CEO of Corporation Bank. When I started

my career, our Bank had a business of Rs.2500 crores, while I leave today; we are at nearly Rs.10 lac

crore of business. A remarkable feat of the untiring efforts of the 60000 strong contingents of Canara

Bank men & women. As I move on, I look to our beloved Bank achieving.

A business of -- Rs.10,00,000 Crores, CASA of -- Rs.2,00,000 Crores, Operating Profit of -- Rs.10,000

Crores, Net Profit of -- Rs.1,000 Crores & Net NPA -- < 6% I will be eagerly watching you all achieving

these great numbers. My sincere thanks to the entire Canbank family. My respectful regards to our

Founder and our Beloved Bank. I wish you all the very best in life.

Yours truly,

P.V.BHARATHI

14

*Canara Bank: - Canara Bank- Employee Share Purchase Scheme (Canbank ESPS) In Continuation to our letters MD&CEO: SD: 51/52:11/12:2019 dated 19/01/2019 on the Canara

Bank- Employee Share Purchase Scheme (Can Bank ESPS) where we have informed the stock

exchange about the issue of up to 2 crore equity share under Tranche I and the issue open date as

21/01/2019, we further inform the Stock Exchanges that:-

1. The issue/offer was closed on Friday, 25.01.2019.

2. The issue was oversubscribed by 134% due to good participation from employees.

3. Under the said issue of up to 2 crore equity share under Tranche-I and the Bank will be raising a

capital of Rs 557 Crore(approx).

4. The completion of allotment procedure of the said issue and final allotment will be informed to the

stock exchanges as and when the same is completed. (B LINE 28.01.19)

Photo Gallery:

Bidding Farewell by CBOA Team to Madam P V Bharathi on

her elevation as MD & CEO of Corporation Bank

Rtd CM Chandra Pal is being welcomed by DGS of Aligarh, Mr

Vidhumohan

Mr. Shanmuganathan, DM, RO, Madurai retired on 31.1.19 is

being welcomed to CBROA AGS Manoharan & his team.

Mr. Chunilal Mukhopadyay who retired on 31.01.19 is

felicitated by CBROA Team. He joined CBROA.

15

Mr. A K Dey AGM CO Kolkata retired on 31.12.18was being

welcomed to CBROA by CBROA Kolkata team

Mr. Subhas Chakroborthy retired on 31.01.19. He is being

welcomed by CC member Mr R N Mandal & his team.

Mrs. Gita Mitra of Brabourne Road branch retired on

31.01.19. CBROA Team welcomed her to CBROA

Mr. Shivasankaran, Gen Manger at head Office, retired on

31.01.19. CBROA team welcomed him to CBROA. M.no. 9838

Gathering at Tirunelveli meeting on 30.12.2018 CC member Mr. Varagunan & RS, Anandaraj were on Dias

16

02.01.19, Wednesday meeting – addressed by VP, Mr. B V Pai Gathering at Wednesday meeting of 2

nd Jan at Mangalore

Enjoying Picnic by Pune Members on 15.01.19 Leaders of CBPRO & AIBRF were on Dias at Delhi Dharana

Sea of crowd – view of Delhi Dharana Massive crowd at Delhi Dharana on 7.1.19

17

Gathering bank Retirees at Chennai on 08.01.10 at Dharana Mr. Asokan, AGS of CBROA at Chennai Dharana.

Mr. D L Rao, AGS Of CBROA & other leaders & members of

CBROA in Hyderabad Dharana

Vice President Mr. PVLN Sarma participated in Dharana at

Hyderabad organised by CBPRO & AIBRF

Under the leadership of DGS Vidhumohan, Candle Light march

by AIBOC & AIBPARK members on 15.01.19.

Bank Retirees at Dehradun Dharna held recently

18

Gathering of CBROA members at Madurai meeting on 7.1.19 Mr M N Manoharan, AGS addressed the meeting.

Members meeting at Trichy on 09.01.2019 A G S Mr. M N Manoharan addressed Trichy meeting. RS Mr.

Arumugam is in very happy mood.

Members meeting is addressed by leaders at Ernakulum Ernakulum meeting 31.01.19 – gathering of CBROA members

19

Rajahmundry Meeting – G M is being welcomed Members at Rajahmundry meeting on 31.01.2019

>The quarterly General body meeting of

Calicut District was held at Hotel Nalanda,

Calicut. Ramakrishnan welcomed the

members. Sri P Balachandran, SM (ret)

presided over. Sri K V Raghavan SM (retd)

presented a brief sketch of the proceedings of

the XI Biennial Conference held at Mangalore

on 1st and 2nd December 2018. All the

members present took part in the discussions

very actively. Sri M K Abdul Rasheed, SM (retd)

proposed the vote of thanks. The meeting

came to an end by 5 pm

Vishakhapatnam CBROA members meeting on 26.01.2019 Mr PVLN Sarma, VP, CBROA addressed members at V Patnam

20

Other Banking News:

*Rising costs, manpower crisis hit banks’ ability to upgrade ATMs: With the Reserve Bank of India’s deadline to upgrade ATMs looming, banks are trying to meet the

timelines but rising costs and manpower shortage have been making the task a huge challenge. This is

because smaller banks seem to be mostly compliant, but the bigger ones are still trying to upgrade their

large network of ATMs. “Every bank is scrambling right now to meet the deadline; the intent is there,

they are trying. There may be a few banks that are unable to complete the entire compliance because a

lot of things need to be done individually in every machine. As part of its ‘control measures for ATMs’,

the RBI has directed banks and white label ATM operators (WLAOs) to implement ant skimming and

white listing solutions by March 2019, and also upgrade, in a phased manner, all ATMs with supported

versions of the operating system by June 2019. (BL dt.02.01.19 p.5)

*Parliament panel asks PSBs to step up hiring to avert vacuum due to large

retirement in 2019-20: (By: PTI | Published: January 6, 2019 11:58 AM)

Public sector banks (PSBs) ought to step up hiring at junior and middle levels to ensure there is no vacuum

following retirement of large number of employees in the near future, the lawmakers said in a report to

Parliament. In PSBs, 95 per cent of GM level employees, 75 per cent of Deputy GM level employees, and 58 per

cent of Additional GM level employees will retire in 2019-20. The Standing Committee on Finance has observed

there has been “strangely a discernible” fall in the number of candidates registering for clerical, probationary

officer and specialist officer positions at PSBs as per data available from the Institute of Banking Personnel

Selection.

“The committee believes that while banks reducing their recruitment could be a factor, undue stress and work

pressure from long hours and difficult working conditions without commensurate compensation/incentive

package may be discouraging prospective candidates,” said the report tabled in Parliament last week.

The panel headed by veteran Congress leader M Veerappa oily has expressed apprehension that there could

be “sudden vacuum” because of large number of retirements in the near future in state-owned banks at various

levels.

“The committee desires that proper manpower planning and human resource development strategies should

be put in place in PSBs, so that the staff/officers groomed into the system, remain motivated and a sudden

vacuum is not created at the junior/middle levels due to manpower shortage,” it said. Further, the committee

has made a case for more incentives and a better remuneration package for senior management of PSBs to

reduce the wide gap in their compensation package and that of the private sector peers. As per the report, the

committee has desired that in case the lateral mobility policy of senior officers in PSBs at the Board level is being

considered by the government by promoting DMDs of SBI, then the “movement should be made both ways,

that is from SBI to PSBs and from PSBs to SBI”.

*No case of pension, gratuity fund diversion at PNB, says Arun Jaitley: (By: PTI | Published: January 4, 2019 2:59 PM)

Finance Minister Arun Jaitley Friday said Punjab National Bank (PNB) did not engage in any misappropriation of

pension and gratuity funds in the past and no amount was taken from the trusts’ account. The minister was

responding to a question asked by BJP MP Kirit Somaiya if the government was aware of the misappropriation

of the Employees’ Pension Fund Trust and Gratuity Fund by PNB in 2016-17, and, if so, the MP also sought

details.

21

“PNB has informed that there is no misappropriation of funds, and that the pension fund and gratuity fund

trusts are separate entities and the bank is not authorised to operate the trusts’ accounts or transfer any

amount from the trust,” Jaitley said in a written reply to the Lok Sabha. The bank has further said that adequate

funds for pension and gratuity are maintained as per the actuarial valuation report without any exception, that

the same are in strict compliance of accounting standards, Jaitley said. PNB has informed that these funds are

duly audited by the bank’s statutory central auditors every year, Jaitley added.

“PNB has also apprised that no amount was taken back or withdrawn from the trusts’ account. With regard to

placement of the matter before the bank’s audit committee of board (ACB), the bank has further apprised that

the bank’s annual financial accounts for the financial year 2016-17 are audited by the bank’s statutory central

auditors and have already been approved by the ACB and the board,” Jaitley said. The bank has also reported

that it has initiated steps to further lay the reference received as well before the ACB, he said.

*RBI frees Bank of India, Oriental Bank, BoM from Prompt Corrective Action

framework: (B L Mumbai | January 31, 2019)

The RBI has decided to take Bank of India (BoI) and Bank of Maharashtra (BoM) out of the Prompt

Corrective Action (PCA) framework following improvements in their capital position and asset quality in

the December 2018 quarter. The move will remove the constraints placed on these public sector banks

(PSBs) in terms of lending and undertaking branch expansion. The RBI has also decided to remove the

restrictions placed on Oriental Bank of Commerce (OBC) subject to certain conditions and close

monitoring. PCA involves intervention by the banking regulator so that a ‘weak’ bank takes corrective

measures to restore its financial health. It is imposed on banks whose capital, asset quality and/or

profitability do not meet pre-specified thresholds. With BoI and BoM out of it, eight of the 20 PSBs are

left under the regulator’s PCA watch.

*Budget 2019: Raised Income Tax exemptions may benefit senior citizens: The Narendra Modi government's Interim Budget 2019 offered a number of steps that could help

reduce the tax burden on senior citizens. While Minister Piyush Goyal did not announce any changes to

the income tax slabs for senior citizens and super senior citizens, he did announce measures that senior

citizens could use to reduce their tax liabilities. Along with the proposed move to remove income tax for

those with income below Rs 5 lakh, Goyal also pointed out that deductions of medical expenditure on

senior citizens could be used to bring the taxable income below the Rs 5 lakh threshold.

He announced the raising of TDS threshold on two categories of earning, from which senior citizens

could potentially benefit. First, he proposed raising the TDS threshold on interest earned from bank and

post office deposits from the present Rs10,000 to Rs40,000. Second, he proposed raising the TDS

threshold for income from rent from the present Rs 1.8 lakh to Rs 2.4 lakh per annum.

Goyal also proposed to exempt the levy of income tax on notional rent on a second self-occupied house,

saying it would help people who have to maintain two different houses for a number of reasons, among

them being the care of parents. While this may not directly impact all senior citizens, it could help

alleviate tax burden to an extent for some senior citizens or their family members.

The increase in standard deduction from Rs 40,000 to Rs 50,000 would also deliver benefit to senior

citizens, Goyal said. He also spoke about the rationalisation of processes of pension schemes.

22

*Dearness Relief for Bank Pensioners from 1st

Feb,2019 to 31st

July, 2019 There is an increase of slabs in Dearness relief on Pension, payable to Bank Retirees with effect from 1

st

February 2019 to 31st

July, 2019.

Retired prior to 01.11.1992 - 1571 Slabs over 600 Points

Up to basic 1250

1052.57%

1251 - 2000

864.05%

2001 - 2130

518.43%

Above 2130

267.07%

Retired on or after 01.11.1992 but before 01.04.1998 - 1434 slabs over 1148 points

Up to basic 2400

501.90%

2401 - 3850

415.86

3851 - 4100

243.78%

Above 4100

129.06%

Retired on or after 01.04.1998 but before 01.11.2002 - 1300 slabs over 1684 points

Up to basic 3550

312.00%

3551 - 5650

260.00%

5651 - 6010

156.00%

Above 6010

78.00%

Retired on or after 01.11.2002 but before 01.11. 2007- 1149 slabs over 2288 points. For the entire Basic

Pension Amount : 206.82%

Retired on or after 01.11.2007 - 1012 slabs over 2836 points - For the entire Basic Pension Amount:

151.80%

Retired on or after 01.11.2012 - 611 slabs over 4440 points - For the entire Basic Pension Amount:

61.10%

canara bank retired officers’ association (regd.)cbroa.co.in/pages/n b feb 2019.pdf · would like...

Documents