veteran august issue final copy (3)

7/31/2019 Veteran August Issue Final Copy (3)

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I.O.B. RETIREES ASSOCIATION(Affiliated to the All India Bank Retirees Federation, New Delhi)

Cordially invites you to attend the

Platinum Jubilee celebrations of Indian Overseas Bank

Com. L. Balasubramanian

On Wednesday the 10 August 2011, 05.30 p.m.

Greetings by

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Sri M. NarendraChairman and Managing Director, Indian Overseas Bankwill be the Chief Guest

President, I.O.B.Retirees Association presides.

Executive Director, Indian Overseas Bank

Executive Director, Indian Overseas Bank

General Manager, Indian Overseas Bank

President, AIOBEU

Sri AL. Chandramouli

Sri A. Vellayan

Smt. Nupur Mitra

Sri A.K. Bansal

Sri G. Ravindrakumar Gandhi

Director, Indian Overseas Bank & Chairman, Murugappa Group

Venue:

Dakshinamurthy Auditorium,P.S. Higher Secondary School, 215, Ramakrishna Mutt Road,

(Opp. R.K. Mutt) Mylapore, Chennai 600 004

PROGRAMME (10-08-2011 )

05.00 p.m. : High tea

05.30 p.m. : Platinum Jubilee celebrations of our bank.

Prayer

Welcome Address:

Presidential Address:

Address by Chief Guest:

Presentation of cheque to Secretary

Introductory Remarks:

Presentation of Cheque:

Honouring Retired General Managers

Honouring AIOBEU and IOBOA

Felicitations :

Vote of Thanks : ,

National Anthem

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Sri. T.R. Venkataraman

Sri. AL. Chandramouli,

Sri. M. Narendra,

Pay Back Scheme Mr. A.R. Palanisamy, SEED

Sri. J. Balasubramanian

Sri. KM. Narayanan

Sri. A.Vellayan,

Smt. Nupur Mitra,

Sri. A.K. Bansal,

Com. L. Balasubramaniam,

Com. S. Srinivasan,

Sri. B. Ramji

President

C & M.D., IOB

Director, IOB

Executive Director IOB

Executive Director IOB

General Manager, IOB

President AIOBEU

General Secretary AIOBEU

General Secretary

Sri. G. Ravindrakumar Gandhi,


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Quarterly News Bulletin of I.O.B. Retirees' Association

Volume : 2 August 2011 Issue: 3

1) 1

2) G S Speaks - 2

President speaks

The Course of a movement

3) An Appeal

4) Pay back Grows

5) Association News

Meeting with Sri. S. Chandrasekaran - GM (PAD) on 10-03-2011

Matters taken up with the Bank

New Pension Optees: Deduction of tax at source:

Pension Payment to I O B Pensioners on the last working dayChennai1 and Chennai -4 Regional Councils Joint meetingKolkata Regional Council, Quarterly Meeting and

Annual General meeting

Madurai Regional Council InauguratedPalakkad Regional Council : Meeting of 24-04-11 and 17-07-11Hyderabad Regional Council meetingSalem Regional Council Inaugurated

6) New Pension scheme Launched

7) AIOBEU launches NUBE

CONTENTS

8) FEDERATION NEWSOffice-bearers meeting of AIBRF

AGITATIONAL PROGRAMME LAUNCHED BY AIBRFSUPPORT FROM UFBU: NATIONAL CONVENTION

AIBEA writes to Finance Minister on Grievances of Bank retireesTamil Nadu Bank Retirees Federation Formed

AIBRF Central Committee meetsNo Income tax return

9) BANK NEWSSri.G. Ravindra Kumar Gandhi takes over as

General Manager (Personnel)IOB crosses business mix of Rs 2,50,000 croresIOB s Hat trick plus

10) Personal

11) Obituary

12) Deposit Mobilisation Campaign

13) Bank Pass Book

14) Dearness Relief from August2011 to January 2012 32

15) LEGAL CORNERHC: Dont make retirees run pillar-to-post for benefitsHistoric Judgment by Madras High Court:

President SpeaksMy Dear Veterans!

Since our last Issue many good things listed below have happened in our Bank for the Retirees thanks to the positive attitude exhibitedby our beloved C & M D Mr. Narendra, General Managers Mr. S. Chandrasekaran, Mr. G.R. Gandhi, Deputy General ManagerMr. V.C. Ramachandran and the Personnel Department. They are:

1. An additional Ex-Gratia of Rs1000/- over and above normal Ex-Gratia of Rs2090/- are being paid to Pre 1986 Retirees and spouses odeceased Pre 1986 Retirees. We have been representing to the Bank for increasing the Ex-Gratia amount since 1 September 2008We are happy Bank has conceded to our demand now. This is IOB exclusive. Had our Retired Executive Director Mr. S.N. Soni beenalive he would have been happy because this was thedemand made by hiswife when theundersigned andMr.B.Ramji called on them inLucknow. Now hiswife along with otherswill get this benefit.

2. Bank has set up Grievances Cell in response to our demand made to the Parliament Committee. our Banks Circular quoting IBAsCircular refers to this in their preamble.

3. Doubled theamount under Pensioners Loan.4. Started Issuing Identity Cards to the Retirees. Those of you who have not yet got the Identity Cards can approach Pension Paying

Branch for the same.

To give onemore option for theRetirees to join REMAS andpermit optees of VRS2000 also to join thescheme after their superannuation.To Sanction Festival Advance for Retirees.

Our Bank under the dynamic leadership of Mr. Narendra backed up by devoted IOBIANS is doing extremely well showing good results.I am sure shortlyBank will regainits glory and become theBest Bank in theindustry.In the recently concluded Executive Directors interview our Bank has got bountiful with selection of Mr. S. Chandrasekaran andMr. M.S. Raghavan as Executive Directors to fill the vacancies in UCO Bank and Indian Bank respectively. Mr. S.N. Mishrahas been selectedand kept in the waiting list. I congratulate all of them and wish them all the Best in their tenure as Executive Directors. I am happy tonote that IOBs potential hasbeen recognized andwish thesame trend continues in theyearsto come.We are celebrating Platinum Jubilee of the Bank on 10 August 2011. Our Chairman and Managing Director Mr.Narendra, Mr.A.VellayanDirector of our Bank and Chariman Murugappa Group along with Executive Directors Mrs.Nupur Mitra and Mr. A.K.Bansal will address theRetirees. Com Mr.L.Balasubramanian President AIOBEU and General Secretary NUBE will also offer his felicitations. Formal Inivtation isenclosed to this issue of TheVeteran. I request all Veterans to attend the meeting without fail.At theapex level we are trying to form Tamil Nadu Bank Retirees Fedeartion . So far we hadmeetings in Pondicherry. Coimbatore, SalemTrichy and Madurai. The response everywhere was overwhelming. The Federation will be inaugurated shortly in Chennai.

With Regards,Yours truly

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Bank is actively considering :

Al. Chandramouli

President

Once again I request youto attend the proposed meeting of our Association on 10th August 2011 andmake it a resounding success.

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G S Speaks

Dear Veterans !

The Course of a movement

When history is made, the people involved are neither aware of it nor about their role in it.

AIBRF

ParliamentaryStanding Committee on Personnel, Public Grievances, Law and Justice

all cadre

UFBU

All India Bank Retirees Federation(AIBRF).

Retired Bank Officers National Confederation (RBONC).United Forum of Bank Retirees

Organisations (UFBRO).

IOBRA AIBRF, UFBRO, Parliamentary Standing Committeeon Personnel, Public Grievances, Law and Justice 28 January 2009, IBA(

Dept of Banking of Ministry of Finance(

It is true

of First war of Independence in 1857, Quit India movement or Salt Satyagraha.

Similar is the case of trade union movement in Banks or the Bank Officer trade union movement, wherein wewere all actively involved till our retirement.

History never tires of repeating. It is happening once again. The growth of Bank Retirees organizations isslowly and steadily building up into a movement. is undoubtedly the pioneer and leader of this

movement. The defining events in the course of the movement are Our appearing before theon 28 January 2009 and our

stellar role in securing one more option for pension for retirees.

Our conscious efforts to promote and retain character in our organization meting out equatreatment to all retirees whether he/she is a General Manager retiree or a part time sweeper retiree, to bring al

the retirees who are not members of any retiree organization, into the movement and work in co-ordination

with in-service organizations under the umbrella of for achieving our demands has won theappreciation of retirees as well as serving employees. It has also earned us respectability with IBA as well as

Government Circles.

It is worth recording here that Bank Retirees movement is distinctly different from the earlier two movements-Employees movement and Officers movement. This is the third movement. Its growth is steady and strong.

As in any movement, this movement too is finding its own course, defining its goals and producing strong andcapable leaders.

There are two types of retirees organizations in banks. There are all-cadre organizations where award-staffretirees, retired officers and executives are members. Their ideology is that after retirement, there is no

difference between them. These organizations are mostly affiliated toThere are some more organizations whose membership is restricted to retired officers. These

organizations are mostly affiliated to Boththese organizations have come together under the umbrella organization

Both AIBRF as well as RBONC have affiliates in a number of Banks AIBRF in 18and RBONC in 12 accounting for a total membership of around 80,000 retirees. Both these organizations are

very active in representing retirees issues and problems before individual bank managements as well as IBA

and the Govt. Both are fully exploiting the judicial forums to protect the retirees interest. Their role in securing5 year weightage for VRS 2000 retirees and securing one more option for pension to the retirees is substantia

and can not be ignored.

as well as representing appeared before theon wherein represented by

its CEO, Deputy CEO and Personnel officer) represented by theJoint Secretary) and other Departments of the Govt of India, Dept of Personnel, Dept of Pensions, Dept of

Public grievances and a number of M.Ps who are members of the Committee participated. We raised all the

issues concerning retirees in the meeting. The issues raised are- 1.Pension Updation, 2.SanctioningD.A.Neutralisation at 100% to retirees who retired prior to 31-10-2002.3.Payment of arrears from date of

retirement to30-04-2005 and commutation difference on account of rectification of Basic pension anomaly inthe 8 Bipartite in respect of post 1-04-98 and pre 01-05-2005 retirees. 4. Demand for apportioning a

reasonable portion of Staff Welfare fund for retirees.5.Introduction of a uniform Hospitalisation scheme forretirees at the industry level.6. Recognition of Our organization and holding discussion with us on matters

concerning retirees.7.Demand for constituting Grievance Cells in all the banks to resolve the grievances ofretirees expeditiously. 8. Extension of one more option for pension that has been agreed for serving employees

to all the retirees as well.

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There was all-round sympathy for our issues among all the participants. At the end of the meeting it was

announced that Second option for pension will be extended to retirees also and that IBA will advise banks toset up grievance cells to handle grievances of retirees in all banks. IBA and Dept of banking agreed to consult

Retirees Organisations on matters concerning retirees. IBA was advised to formulate a hospitalization scheme

to cover retirees and also make recommendations for allocating a reasonable portion of Staff welfare fund toretirees also. It was unanimously felt and accepted that retirees are as much part and parcel of the banks as

other staff members. A mention about the Parliamentary Committee meeting will be found in the Preamble ofIBA Circular No. CIR: HR&IR/GS/2008-09/3059 dated 30-03-09 advising member banks to set up grievance

cells reading IBA along with the Ministry of Finance officials had recently appeared before the ParliamentaryStanding Committee on Pension, Public Grievances, Law and Justice on a representation made to the

committee by the retired bank employees.

All these facts establish that AIBRF as well as UFBRO have been successfully representing retirees issues

before IBA as well as the Government. - when the of was heldin Chennai to when the Second option for pension for retirees became a reality was the period o

hectic activity for both the retirees organizations and they moved to center stage and also drawn closer to in-service organizations. People started realizing that the Retirees organisations had a greater role to play in

future and were seen holding potential to become a much larger and stronger organization in near future.

Come January 2011, AIBOC holds its general Council meeting. They consider the issue of mobilization of thein order to consolidate their movement and ensure greater

relief to them. They observe

It also

observedThus

AIBOC laments on non resolution of long pending issues. But of the major namely 1.

owe their origin to a period when the then General Secretary of AIBOC was the convenor ofUFBU and made significant contribution in perpetrating the gross injustice on the helpless retirees. Similarly

for denial of Second option for pension to OSR-VRS retirees and CRS retirees, AIBOC can not claim to be

innocent as it is a signatory to the settlement.

We appeal to retirees to be careful about the machinations of the new crusaders of Retirees cause and stay

away from them.

As far as retirees of IOB are concerned, they have to be careful about the vociferous chorus that is heard now o

merger of the two retiree organizations i.e.IOBRA and Arise. People who have gone out of IOBRA are welcome

back to their homeland. But we have to be careful about any move to hijack IOBRA, which we have built upbrick by brick with our blood, to the outfit to be created as appendage of AIBOC in the name of retirees Unity.We are wedded to our ideology of our being an all cadre organization and our affiliation with AIBRF/UFBRO

We have miles to go to reach our destination. Let us March on

Yours truly,

December 2008 Triennial Conference AIBRFApril 2010

retiree officers under the banner of AIBOC

AIBOC floats organizations for

Retiree officers by splitting existing retiree organizations. Fine logic indeed- Their stated objectivewill be

two three issues Deniaof D.A.Neutralisation at 100% to retirees who retired prior to 31-10-2002 and 2. Non- Payment of

arrears from date of retirement to30-04-2005 and commutation difference on account ofrectification of Basic pension anomaly in the 8 Bipartite in respect of post 1-04-98 and pre 01-05-

2005 retirees,

All these make one suspect the motive of AIBOCs move to split retirees movement at thisjuncture.

B.Ramji

There are a number of Retirees/Pensioners Associations all over the

country, not been able to resolve grievances during the last several years. Hence theConfederation should take up the task of organizing the pensioners under its banner.

uniting retirees, but they will divide retirees into retiree officers and non officers. Their

stated objective will be to mobilize retirees under one banner, but they will be breaking existingretiree organizations.

The multiplicity of the organizations with no proper direction are only a hindrance for the resolutionof long pending issues of the pensioners in the banking industry

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General Secretary


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I. O. B. RETIREES' ASSOCIATION(Affiliated to the All India Bank Retirees' Federation)

# 2, First Cross Street, Jaya Nagar, Tamabaram Sanatorium, Chennai 600 047, Phone : 044-22418692, Mobile : 94440 13417

MEMBERSHIP - CUM - BIODATA FORM

Name :

Address in Full :

Pin Code :

Phone Number : Res. : Off. :

Mobile : .....................................................................................................

E-mail ID : .....................................................................................................

Date of Birth : ...................................

Educational Qualification : ...................................

Bank Roll No. : P.P.O. No.

Date of Joining the Bank :

Date of Retirement .................. : Super Annuation / Voluntary / Compulsory / VRS 2000

Designation on Retirement :

Branch last Worked :

Whether opted for Pension : Yes / No

Pension Payment Branch :

Basic Pension ........... D.R........... :

Whether Presently employed : Yes / No

If Yes, Details :

Blood Group :

Brief Medical History :

Contact Address :

Any other relevant information :

(in case of emergency)

I agree to abide by the rules and regulations of the Association, I enclose DD / Cheque for Rs. 500/-Towards Life Membership / I have already remitted the membership Fee.

Date : Signature

All remittance by A/c Payee Crossed Drafts / Cheque Payable at Chennai. Please note to mention P.P.O. No.

In all correspondence. Life time membership Rs. 500/-.

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MEMBERSHIP

Backside

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Meeting with Sri.S.Chandrasekaran-

GM(PAD) on 10-03-11

The Veteran,

We are glad

Sri. J. Balasubramanian

Chennai 6 (Mambalam Ashok Nagar

K.K. Nagar) Regional Council

Sri. S. Chandrasekaran 10th

March 2011

We have been reporting in the last few issues of

about the various issues

affecting the retirees, which we have taken up

with our Management.

to inform our members that our

representatives, ,

G enera l Manag er Retired, C ha ir ma n of

and our

General Secretary met the General Manager

(Personnel) on

and discussed these issues.

The meeting was fruitful due to the highly

positive attitude of the G M and decisions were

arrived at as follows. As you are aware, Sri.

Chandrasekaran was transferred to Delhi

immediately after our meeting and his

successor took

over on 6th April 2011.The credit for working

out details and successfully implementing the

commitments given to us by his predecessor.

. We had taken

up the matter with the Chairman and Managing

Director of the bank vide our letter dated 1-09-

08 We had submitted that the ex-gratia paid to

this category of retirees is uniform, (totaling to

Rs 2092 as at present), irrespective of the post

held by them at the time of retirement. We

submitted that this amount is very much

insufficient for the retiree to maintain his family,

more so with the spiraling cost of living.

Therefore we had requested for enhancing this

Sri. Ravindra Kumar Gandhi

1. Enhancement of Ex-Gratia Amount paid

to pre-1986 retirees and spouses of

deceased pre-1986 retirees

We could discuss the following matters

during the meeting

Association News

An AppealDear Friends!

We request all retirees who have not yetbecome our members to become membersand strengthen our organization. We requestour members to help us by canvassing andmaking all their friends as our members. Weare attaching a membership application formfor your use.

We request all Family Pensioners who have not

yet become our members to become membersand strengthen our organization.We request old members who had becomemembers before 2008 and who have not sentlatest personal data after 2008 to fill up theattached membership and bio-data form

for updating ourrecord

We request all beneficiaries (Retirees) ofSecond option for pension to send in theirdonation (equal to 15 days Pension) by cheque/ DD favouring IOB Retirees AssociationMembers are requested to remit Rs 100/-towards postage for posting The Veteran

Members are requested to donate liberally toimprove the financial position of ourAssociation.Members are requested to donate Liberallyunder Pay back scheme.

withoutany Cheque/DD

Donate liberally for effective functioning.Strengthen IOBRA and AIBRF

Pay back GrowsWe are overwhelmed by your response to our

editorial Pay back time that appeared inearlier issues of The Veteran

We had received some more response from

some of our members in the form of

contribution as follows.

Radhakrishnan 1000

P.Thirumoorthy 1000

P.Murari Rao 1000

M.Kameswara Rao 1116

S.Natarajan 800

M.A.Eswaran 500

M.K.Bhaskaran 1000

A.O.Bakkiam 500

Mrs.Valli Ulaganathan 500

K.Ponnambalam 500

R.Rajagopal 1000

S.Ganapathy Subramanian 2000

H.Parasuraman 1200

12116

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amount to Rs5,000/-. After working out the cost

of the enhancement,

We had taken up the matter vide our

Letter dated 19-11-09. We had requested the

bank to sanction festival advance to all our

retirees who are getting pension from the bank,

once in a year for celebrating Festivals. The

amount of advance should be equal to one

months gross pension (rounded off to nearest

hundred) recoverable in ten equal monthly

instalments. This will be in similar lines of

festival advance given to serving members.

We append below the contents of our letter

dated 09-11-2010 addressed to the Chairman

and Managing Director on the above subject.

The bank had introduced

( f or

providing financial assistance to retired

employees of the bank to meet their medical

expenses on 12-07-2001.The retirees were

given six months time to join the scheme. But a

number of retirees could not join the scheme for

various reasons.

With a view to help retirees who were left out,

we had requested the bank to give one more

option to all retirees to join the scheme and

make some more improvements in the scheme

to enlarge its coverage and make it reach more

retirees in a more meaningful manner.

Conceding our request,

and some

improvements were made in the scheme, in

September 2007. Since then, we have been

Sri.Chandrasekaran

agreed to get it enhanced by Rs1000/- per

month with effect from 01-04-11.

2. Welfare Scheme for retirees- Festival

Advance.

We are glad to inform you that the General

Manager agreed to take up the matter

with top management for sanctioning

Festival advance to retirees.

3 . I nd ia n O ve rs ea s B an k R et ir ed

Employees Medical Assistance Scheme

(IOBREMAS)

IO B R EM A S )

one more option was

given to all retirees(other than VRS 2000

retirees) to join the scheme

It has

been implemented in June 11.

Indian Overseas

B an k R et ir ed E mp lo ye es M ed ic al

A ssist an ce Sc he m e

taking up with the bank to extend coverage of

the scheme to

We have brought to the knowledge of PAD that

Honble Supreme Court of India has given a

ruling in a writ petition filed by VRS2000 retirees

of Bank of India instructing the Bank to extend

coverage of REMAS to the VRS 2000 retirees on

their attaining 60 years of age as exclusion of

these retirees is illegal.

We had also written to the Executive Director on

29 September 2009, for extending coverage of

the scheme to

It is pertinent to note that the membership of

IOBREMAS is very low in comparison to the tota

number of retirees which has crossed 10,000.

With the offer of one more option to join the

pension scheme to existing PF Optee retirees a

record number of about 2000 are likely to join

the Pension scheme and almost all of them are

not members of IOB REMAS.

We requested the bank to give the new

pensioners as well as family pensioners an

option to join the IOBREMAS. Along with them,

other retirees and family pensioners, who had

not yet become members of IOBREMAS, also

should be given a chance to join the scheme.

This option should also be extended to VRS2000

as well as CRS retirees above the age of 60.

We also requested bank to enlarge the features

of the scheme to incorporate features available

in other banks like Indian Bank, UCO Bank,

Central Bank of India, Bank of Baroda etc. We

are ready to provide necessary inputs to the

Department, if needed.

our letter dated

18-01-2011 At the time of introduction of

Pension Scheme in the year 1995/96, retirees

who had earlier retired under banks Voluntary

Retirement scheme on health grounds had

applied for joining the Pension Scheme. The bank

declined the request of about ten such retirees

a ll r et ir ee s w it ho ut

exception.

all retirees.

We are glad to inform you that the Genera

Manager agreed to consider our request.

The matter is being placed before Staff

Welfare Committee for approval.

5. Sanctioning Pension (

)

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taking a stand that they can not join Pension

scheme as their ward was given compassionate

employment in the bank. (even though the

Pension Scheme does not endorse this view.)

This decision of the bank was challenged by

one of these aggrieved members

in Madras High court,

where, he won the case. The appeal of the bank

to the Supreme court was also dismissed and

the member was sanctioned Pension with

retrospective effect.

In a sensitive matter like this, it is normally

expected that the bank gives benefit of the court

decision to

But the bank did not do so for reasons best

known to them

The Indian Banks Association vide its Circular

No. CIR/HR & IR/G2/665/90/2010-11/2076

dated December 21, 2010, issued certain

clarification in respect of pensionary benefit to

employees who died after 24-04-10. The

Circular clarifies

We had requested the bank to implement the

same and notify the beneficiaries of this

decision.

Sri. P.N.

Balasubramaniam,

all the similarly placed retirees.

We had requested the bank to render

justice to other similarly placed retirees

and order sanctioning of pensionary

benefits to them with retrospective effect.


Manager agreed to examine our request

with an open mind.

6. Pensionary benefits to employees

who were in service of the banks as on

24-04-10 and died thereafter (Letter

dated 18-01-11)

we advise that the family of

the employee eligible to exercise the option who

died on or after 27.4.2010 shall be entitled for

full pension from 27.11.2009 or from the date of

retirement which ever is later till the date ofdeath and family pension thereafter. They will

also be eligible for commutation of pension;

provided they comply with the terms of the

settlement / Joint Note as mentioned in Para 1

above.

We are glad to inform you that the

General Manager agreed to implement

the IBA instructions immediately

7. Issue of Identity Cards (Lt. dated

15-06-10)


Manager agreed to issue Identity cards to

all retirees and put in place systems to

ensure that this becomes a regular affair.

You will be glad to know that the bank has

already issued the cards to all the eligible

retirees through their pension paying

branch. We request members to contact

the branch and collect their cards.8. Issue of Fresh PPOs:


Manager agreed to issue fresh P P O to

retirees in all such cases and put in place

systems to ensure that this becomes a

regular affair whenever there are any

modifications in Basic pension.

We had taken up with the bank in 2006 for

issuing identity card to retirees. This was

acceded to by the bank and identity cards were

issued initially to the pensioners. We were givento understand that similar cards will be issued to

non-pensioner retirees also at the earliest. We

expected it to be completed and issuance of ID

card to become an automatic practice at the

time of retirement.

We find that this exercise became an one time

affair and subsequent retirees as well as non-

pensioner retirees have not been issued with

I.D. Cards. We once again wrote to the bank

vide our letter dated 15-06-2010 requestingthem to issue Identity cards to all retirees.

The Bank had refixed the Basic Pension of a

considerable VRS retirees adding qualifying

service upto five years in terms of Regulation

29(5) complying with the Supreme Court

judgment.Their Basic pension as well as that of

other post 1-1-98 retirees was refixed earlier

after the last wage revision. We had requested

the bank vide our letter dated 19-11-09 to issue

fresh PPOs for all these retirees whose Basicpension was refixed.

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9. Enhancement of Pension Loan amount:

We are glad to inform you

that the General Manager agreed to our

demand.

Circular No : Dated :

Issuing Dept :

Earlier Circular referred :

Purpose of loan :

Eligibility :

Quantum of Loan :

10 months pension with a

ceiling of Rs2.00 lakhs

65 years of age and Rs.1.00 lakh

over 65 years of age

Repayment period :

36 EMI for those over

65 years

Interest Rate :

Security :

undertaking letter from the spouse or

other legal heirs

Hepromised to consider other financial

demands after the working results as on

31-03-11 is released. As per available

indications, It is likely to be extremely

good. We will continue discussions on

other pending issues at the earliest.

We had requested for enhancement of Quantum

of Pension Loan.

The bank has already enhanced this amount to

Rs.2,00,000/- and issued circular in this regard.

The salient features of C.O.Circular are as

follows:

ADV/002/2011-12

05-04-11 Retail Banking and

Marketing.

ADV/16/2006-07 dated 30-06-2006

For meeting any personal

expenses and the endues need not be

verified.

All pensioners

The loan amount

restricted to

for those not over

for those

who are

Repayable out of

pension amount in 48 EMI for those not more

than 65 years and

At present under floatingrate, it is base rate+2.75% and fixed rate it is

11%

Security not insisted. Obtention

of

waived for Ex-Staff

members of the bank who are drawing

pension from the bank

Friends, We are happy that the General Manager

was very positive throughout the meeting.

We thank Sri. S. Chandrasekaran, Genera

Manager, Sri. G. Ravindrakumar Gandhi,

General Manager and the other executives of

PAD profusely for this generous gesture

On behalf of all the retirees we bless them and

pray to the Almighty to grant exemplary al

round growth to IOB, our bank

We had

taken up this matter with the bank vide ourletter dated 26-06-09, which was followed up

with letters dated 26-12-09, and 19-04-10, and

18-01-11.

The ,vide its

Circular No. CIR: HR&IR/GS/2008-09/3059

dated had asked member banks to

Main features of this

mechanism are as under:

1. Grievance cell will be established atcorporate level of banks.

2. Grievances can be submitted by individuals

as well as Association of Retirees.

3. Banks have been asked to hold talks with

the representatives of retirees associations

on periodical basis say once in a half year, so

that the grievances can be settled across

the table.

We consider this as one of the milestone

achievements of the retirees movement under

the banner of . It is a matter of great

satisfaction for us as this is a direct outcome of

the

to

You will find a mention of this

meeting in the opening sentence of the above

m entioned IBA com municat ion r ea ding

10. Setting up Grievance Cell.

Indian Banks Association

30-03-09

establish grievance cell for redressal of

grievances of retirees.

AIBRF

meeting of the Parliamentary Standing

Committee on Pension, Public Grievances,

Law and Justice held on 28-01-09 under

the chairmanship of Dr. E.M. Sudarsana

Nachiappan, M.P. discuss the grievances

raised by our organization, I.O.B. Retirees

Association.

IBA along with the Ministry of Finance

officials had recently appeared before

the Parliamentary Standing Committee

on Pension, Public Grievances, Law

and Justice on a representation made to

the committee by the retired bank

employees.

10


11/24

We are glad to inform you that Sri. G. Ravindrakumar Gandhi, General Manager has initiated

immediate steps to establish the Grievance cell in our bank

From ToINDIAN OVERSEAS BANK ALL INDIAN BRANCHES/GRIEVANCE CELL REGIONAL OFFICES

GRIEVANCE CELL FOR RETIRED BANK EMPLOYEES

PREAMBLE

Grievances

. ( )

Non-Grievances

Indian Overseas Bank Retirees Grievance Cell

.

INDIAN OVERSEAS BANK RETIREES GRIEVANCE CELLPERSONNEL ADMINISTRATION DEPERTMENT

( G.R.GANDHI )

. Detailed circular has since been issued

The Circular is reproduced here below:

PERSONNEL ADMINISTRATION DEPARTMENTCENTRAL OFFICE, 762 ANNA SALAI, CHENNAI 600002

IBA and Ministry of Finance had appeared before the Parliament Standing Committee on Personnel and PublicGrievances, Law and Justice based on a representation made to the committee by the Retired Bank EmployeesThe issue of requirement of Banks looking into Grievances of Retired Employees was discussed in theManagement Committee of IBA. The Committee after deliberations approved the setting up of a grievance Cellat Corporate Office of the Member Banks to look into the grievances of Retired Employees on a regular basis.IBA has advised Member Banks to constitute Grievance Cell. Accordingly, we have set up a Grievance Cell atCentral Office.The functional set up of Grievance Cell will be as follows.The letters/complaints received from individuals/retiree associations are classified as Grievance andNon-Grievance, depending on the nature of letters/complaints as detailed below:

a) Complaints about delay or non-payment Payment of Pension,Payment of medical bills under REMASb) Grievances of non implementation of policies, wrong interpretation of policies or improvementsDemand for new benefits/facilities/conveniences

a) Seeking information.b) Seeking assistance ( loss of Pension Payment Orders, Loss of I.D Cards ).

To enlarge the scope of Grievance Cell and for proper handling of the same, the following specific role functionsare assigned1. Grievance cell I named as2. Letters/ Complaints received from individuals addressed to Branches/Regional Office should be redressed

within 15days from the date of receipt under advice to the sender, if it is within the purview oBranches/Regional Offices. Letters received from Branches/Regional Offices addressed to Grievance Cell,C.O should be forwarded to Central Office immediately on the date of receipt.

3. Representations related to grievances submitted by individuals as well as Association of Retirees have to

be in writing in the form of letter, e-mail or Fax4. As soon as a letter is received under any of the above categories it should be acknowledged to the sender

and a Grievance number should be given and sender advised that the grievance will be resolved within15 days and under advice to the sender

5. Letters / Complaints received at Grievance Cell, C.O shall refer the matter to the Department / officialsconcerned for resolution of the grievance

6. The matter referred to by the Grievance cell will be attended to on priority basis and the grievance will beresolved by the concerned official within 7 to 15 working days

7. On receipt of reply from the Department/officials at Central Office, the Grievance cell in-charge will satisfyhimself that the grievance has been satisfactorily resolved by the concerned departments/officials. If it is notsatisfactory, he will immediately escalate the matter to General Manager (PAD) Central Office for resolution

8. The sender will be advised of resolution of the grievance after making necessary entries9. The grievance cell at Central Office will conduct a meeting with the representatives of Retirees Association

appraising them of the activities of the cell during the year. The meeting will be presided over by Genera

Manager(PAD), Central Office10.All departments in Central Office/ Regional Offices/ Branches should handle relevant grievances of retirees

with utmost consideration with objective to ensure that not attending the issue itself should not result inanother grievance. The grievances should be attended to sympathetically with helping tendencies.

11.This may be brought to the notice of all Indian Overseas Bank Staff Pensioners informing them of aseparate Grievance Cell at Central Office functioning at the following address:

GENERAL MANAGER

TRANSIENT SERIES ( FILE F) CIRCULAR NO.22/2011-2012 DATED 17.06.2011

Central Office, 762 Anna Salai, Chennai 600002. Ph : 044-2851 9644, Fax : 044-2851 4911, E-mail : [email protected]

11


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Pension Payment to I O B Pensioners

New year day i.e. 01-01-11.

decided to make payment of

Pension in the ensuing months on the last

day of the month for which pension is paid.

CMD Sri.M.Narendra

Sri.G.Ravindra Kumar Gandhi

New Pension Optees: Deduction of tax atsource:

Chennai 1, Mylapore - Triplicane RegionalCouncil and Chennai 4, Adyar, Besant Nagar,

Tiruvanmiyur Regional Council joint meeting

We had reported in the previous issue of the

Veteran that the First of January is a bank holiday

in Tamil Nadu where our Central Office is situated,

and the Second of January was a Sunday, as per

the prevalent practice, the pension was to be

credited only on 03-01-11. Acceding to our

request, the pension for the month of December

was credited to the pensioners accounts on the

We had been requesting our management to credit

pension on the last working day of the month for

which the pension is credited. We had pointed out

in our letter dated 20 April 2010 that

We are glad to inform you that the bank paid

pension for the month of May 2011 on the 31st

May itself and has

We thank our and GM

Personnel , for

this act of love and affection for the retirees.

We had written to the bank on21-03-11 requesting

them to treat the amount deposited by the new

pension optees, i.e 2.8 times of the revised salary forthe month of November 2007 recovered from serving

employees as well as the additional contribution of56% of the banks contribution of P F. deposited by

the retirees at the time of opting for Pension as

A meeting of the members attached to our

Chennai 1 and Chennai 4 regions was held inV ivekan anda H all at P.S.Higher S ec ondary

School.on25th April 2011 Sri.V.S.T.Kumaraswamy,Our Founder Vice-President Presided over the

meeting. Sri.T.R.Venkataraman, Chairman of our

th there are

many categories of pensioners whose pension is

credited in the last week of the month itself. In the

case of Public sector banks, banks like

are paying

pension to their pensioners on the

itself

Therefore, we requested the bank to change the

present system and start paying pension to ourpensioners on the

itself

Bank of

India, and Central Bank of India,

last working

day of the month .

last working day of the

month .

contribution to Approved Superannuation Fund

(Pension Fund) to enable them to avail ofdeduction under section 80C (2) (vii) of the

Income Tax Act1961.

Chennai-4 Regional Council welcomed the gathering

and Sri.K.M.Ramanathan Regional SecretaryC he nn ai -1 Re gi on al C ou nc il c om pe re d t he

proceedings of the meeting.

Com.B.Ramji, General Secretary IOBRA detailed the

latest developments in respect of retirees matters.He narrated the details of the outcome of our

m e e t i n g w i t h G e n e r a l M a n a g e r S r iS . C handrasekhar an on 10- 03-11, w herein

favourable decisions were taken on a number of

matters pertaining to retirees.

Our Regional Office-bearers and members present inthe meeting wanted to know about our Associations

stand on the matter of unifying ARISE as well as

IOBRA. He recalled in brief the history of IOBRA andthe purpose for which ARISE was formed. He

narrated how, during our last Triennial Conference In2008 he approached ARISE through IOBOA and

requested them to come back to IOBRA which theysplit to form ARISE. They did not at all respond at

that time. Subsequently also they were continuingtheir activities as a rival organization. Mr.Ramj

narrated the decision of AIBOC to split the bankretirees Movement by promoting an exclusiveorganization for retiree officers. It is against this

background the anxiety of ARISE to merge withIOBRA to be viewed. Our ideological commitment to

run our Association as an All cadre organization andour affiliation with AIBRF/UFBRO has to be cherished

and preserved at all costs. The scheming move tohijack our organization to AIBOC will be resisted-

said our GS. The entire audience unanimously

approved the principled stand taken by ourAssociation.

The following members who have crossed 70 yearsof age were felicitated:- 1. Sri. T.R. Venkataraman

2. Sri. S.S. Sundaram, 3. Sri. E.T. Sankaran Kutty,4. Sri. M.K. Narayanan, 5. Sri. R. Srinivasan

(Vigilance Dept. Retired) 6. Sri. T. Surendran and7. Sri. R. Ramadurai

Sri.P.K.Shantaram Regional Secretary Chennai-4Regional Council Proposed vote of thanks

The Kolkata Regional Council conducted its quarterly

meeting on 05-03-11. The meeting was wel

attended. The P.F.Optee retiree members whoexercised their option and got their pension

sanctioned under one more option shared theirhappiness. Their grievances pertaining to mistakes

in their PPOs were listed out for rectification.

Our Kolkata Regional Council conducted its AnnuaGeneral Council meeting on 12-06-11 at Regiona

office Kolkata. Sri.B.Ramji General Secretay IOBRAparticipated and detailed the various developments

Kolkata Regional Council

Quarterly meeting

Annual General Council Meeting

12


13/24

at our organizational level and at the industry level.

He gave details of decisions taken in our meetingwith GM(PAD) Sri.S.Chandrasekaran on 10-03-11

where positive decisions were taken on a number ofmatters resulting in benefits to retirees

Our Regional Office-bearers and members present inthe meeting wanted to know about our Associations

stand on the matter of unifying ARISE as well asIOBRA. Mr.Ramji narrated the decision of AIBOC to

split the bank retirees Movement by promoting an

exclusive organization for retiree officers. It isagainst this background the anxiety of ARISE to

merge with IOBRA to be viewed. Our ideologicalcommitment to run our Association as an All cadre

organization and our affiliation with AIBRF/UFBROhas to be cherished and preserved at all costs. The

move to hijack our organization to AIBOC will beresisted- said our GS. The entire audience

unanimously approved the principled stand taken byour Association.

The Annual report for the year 2010 as well asAccounts for the same period were presented and

approved.The following members who had completed 70 years

were honoured; Sri.Ajit Kumar Basu, Sri.Nirmal

Chakraborty, Sri.Ashim Kumar Das, Sri.KashinathDey and Sri.Nirmal Kumar Goswami

The following members were elected to the RegionalCouncil for the year 2011:

Sri.G.C.Basu, President 9830467468Sri. Robin Ganguly, Jt.Convenor 9830827050

Sri.D.K.Bhaumik, Jt.Convenor 8013316837Sri.Tapan Maitra, Member 9831222957

Sri.Tapan Roy, Member 26412897

Sri.Amiya Banerjee Member 9674374796Sri.Harendra Nath Mandal, Member 9432331773

Sri.Mohinimohan Das Adhikary, Member9831941462

Sri.P.K.Bagchi

.Our Madurai Regional Council was inaugurated on

18-02-11 at Madurai..

Sri. R.Venkateswaran, Retd DGM presided over the

meeting. Sri. M.Muthu Retd. D.G.M welcomed the

gathering and detailed the latest developments inmatters of interest to retirees especially the second

option for pension to retirees. Sri. B.Ramji GeneralSecretary IOBRA inaugurated the Regional Council and

addressed the members appraising them of the latestdevelopments. Sri. C.Muthiah offered his felicitations.

Sri. V.Balakrishnan proposed vote of thanks.

The following members who had crossed 70 years of

age were felicitated: Sri. O. Natarajan Chettiyar,S ri . C . M ut hi ah , S ri . K . Po nn am ba la m,

Sri. S.V.R. Venkatachalam, Sri. K. Velu Maharajan

and Sri. Rm. Viswanathan

Madurai Regional Council inaugurated

The Regional Council is constituted with the followin

membersSri.R.Venkateswaran Chairman- 94865 03688

Sri.M.Muthu Secretary-93455 04035

Sri.M.A.Shanmugam Member - 94430 16938Sri.V.Chellapandi Member - 94867 28828

Sri.N.Panchatcharam Member -94430 28538Sri.S.Shanmuganathan Member -94433 05596

Sri.V.Balakrishnan Member -99449 34430Sri.S.Piramanayagam Member -94430 81463

Sri.N.Narayanan Member -94437 74839

The quarterly meeting of Palakkad Regional Counc

was held on 24-04-11. Sri.M.Radhakrishnan, membe

of our Chennai -1 Regional council was the chie

guest. Sri.M.B.Chandran presided over the meeting

Convenor Sri.G.Chandran conducted the meeting

Sri.M.K.Vasudevan, who has crossed 70 years of ag

w as h on ou re d. Sr i P. A ra vi nd ak sh an &

Ramachandran (both Committee Members) Spok

the problems faced by Retirees.Sri M Radhakrishnan, in his key note addres

explained in detail the difficulties faced because of th

rival association, ARISE. He also stressed tha

number of persons attending the meeting

important, but more important is their INVOLVEMENT

Sri. P V Parameswaran, Retd A G M, who was on th

Dias released the much awaited Address Book of I O

R A- Palakkad Unit and presented first copy to Mr. M

Chandran.Copies were given to all the member

present, By Mr G Chandran.

Convener Mr G Chandran, read the minutes an

accounts of the last meeting, which was approve

unanimously, by the sadas.

The meeting concluded with the Vote of thanks by M

G Chandran, Convener.

The quarterly meeting of Palakkad Regional Counc

was held on 17 July 2011.Sri.M.B.Chandran preside

over the meeting. Sri.T.R.Gopalakrishnan was also o

the dais.Mr.C.Ramachandra varrier welcomed th

gathering.Mr.Mohan Ram.C.Menon Legal Adviso

spoke on the need for leaving a will and how t

prepare a will. Sri. G.Chandran, Regional Secretar

spoke on pending issues.

Sri.S.Jagannathan, Regional Secretary, Coimbator

Regional council informed members on lates

developments. He gave details of decisions taken i

our meeting with GM(PAD) Sri.S.Chandrasekaran o

10-03-11 where positive decisions were taken on

number of matters resulting in benefits to retirees

Sri.G.Chandran proposed vote of thanks

Palak kad Reg io nal C ou ncil : Meeting o

24th April 2011

Meeting of 17 July 2011th

th

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Hyderabad Regional Council

Salem Regional Council Inaugurated

A meeting of members attached to HyderabadRegional Council was held on 03-04-11 at

Hyderabad. Sri.T.Venkata Reddy, Retd G.M. presidedover the meeting. Sri.B.Ramji General Secretary

IOBRA participated and detailed the variousdevelopments. He gave details of decisions taken in

our meeting with GM(PAD) Sri.S.Chandrasekaran on10-03-11 where positive decisions were taken on a

number of matters resulting in benefits to retirees

The following members who had crossed 70 yearswere honoured:

1. Sri.I.Bhaskara Rao 2.Sri.S.V.Ramakrishna3. Sri.M.Kameshwra Rao

4. Sri.M.Srirama Rao 5. Sri.V.V.G.K.Murthy6. Sri.S.Udayachala Rao

7. Sri.A.Ramanatha Rao 8. Sri.A.Sundara Raj9. Sri.V.V.Sarma

10. Sri.R.Venkateswarulu 11. Sri.K.V.P.Sastry

12. Srimati.S.R.Ramesh Kumar.

The inaugural meeting of our Salem Regional Council

was held on 03-07-11 at Salem.Sri.T.R.Nagaswamy,r et ire d D GM p re si de d ov er t he m ee ti ng .

Sri.N.Vijayaraghavan Regional Secretary of ourChennai 2 Region welcomed the gathering.

Sri.S.Jagannathan Regional Secretary IOBRA

addressed the members on the achievements of ourAssociation, more particularly, the one more option

for pension for retirees Sri.B.Ramji GeneralSecretary IOBRA addressed the members detailing

the latest developments and inaugurated theRegional Council. He narrated the action plan

chalked out by AIBRF for achieving our demands

The following members who had crossed 70 years

were honoured Sri. T.R. Nagaswamy, Sri. B.S.Barkhatullah, Sri. B.G. Ramamurthy, Sri. K.N.

Ramamurthy. Sri. M.A. Easwaran, Sri. M.V.Jayaraman, Sri. C. Tanikachalam and Sri. K.G.

Krishnan

The Salem Regional Council will consist of thefollowing members:

Sri.T.R.Nagaswamy Chairman 9250033820

Sri.B.G.Ramamurthy Secretary 9150413578Sri.B.S.Barkhatullah Member -9842816692

Sri.V.Jayakumar Member -NamakkalSri.P.Rajendran Member -99445 10335

Sri.A.Singaravelu Member _94439 34501Sri.R.Kandaswamy Member -9443244052

Sri.M.Manickam Member -9442958658Sri.M.Munuswamy Member 9362026625

Sri.M.Chandrasekaran Member 98942 34001

Sri.T.M.Thangavelu Member -9443479864Sri.R.Srinivasan Member -99245449592

Sri.A.Michaelraj Member 9443219853

New Pension Scheme introduced

on or

after 1 April 2010

Defined Contributory Pension Scheme

10% of the pay and dearness allowance

matching

contribution

Government Sector Pension FundManagers

AIOBEU launches NUBE

You are aware that in terms of the Memorandum

of Settlement dated 27.04.2010 signed by Indian

Banks Association with representative Workmen

Unions and Joint Note dated 27.04.2010 signed

with representative Officers Organisations,

employees joining the services of Banks

shall be eligible for the

the

banks will be introducing for them.

The Defined Contributory Pension Scheme

proposed to be introduced for them will be one as

governed by the provisions of New Pension

System introduced for employees of Central

Government w.e.f. 1 January 2004 and as

modified from time to time. The Scheme shall be

regulated and administered by the Pension Fund

Regulatory and Development Authority (PFRDA).

There shall be no separate Provident Fund for

employees joining services of the Bank on orafter 01.04.2010. The employees joining the

services on or after 01.04.2010 shall contribute

towards the Defined Contributory Pension

Scheme and the bank shall make a

in respect of these employees.

IBA has now sent their circular dated 6.7.2011

advising the Banks to introduce the New Pension

Scheme based on the scheme devised by the

PFRDA for the Government Sector and to choose

the

Old timers in Bank employees trade union

movement, especially in Indian Overseas Bankremember the contribution of AIOBEU in building up

apolitical trade union movement in banking industry.

It was in this process, the first Bank employeescentral trade union, National Union of Bank

Employees was formed way back in 70s. With StateBank employees joining, it later on became NCBE.

Due to organizational differences, AIOBEU decidedto part ways with NCBE and launch a new Central

Trade Union Organisation named National Union ofBank Employees. Apart from AIOBEU, there are

some more banks in it. Com.L.Balasubramanian,

President AIOBEU has been elected its GeneralSecretary. Nube has already been registered and has

been invited to appear before Central LabourCommission for conciliation on the strike notice

issued for strike on 05-08-11. We wish NUBE all luckand success.

st

st

.

14


15/24

Office-bearers meeting of AIBRF

AGITATIONAL PROGRAMME LAUNCHED BY

AIBRF

I PHASE OF AGITATION SUBMISSION OF

MEMORANDUM:

A meeting of the office-bearers of AIBRF was held in

Lonawala on 05-03-2011 and reviewed the progress

made in the First phase of Agitational programme

and chalk out the second phase of agitational

programme.

All India Bank Retirees Federation to whom we are

affiliated, have launched agitational programme in

phases to draw the attention of the concerned

authorities on the long pending demands of the bank

retirees. They are:

1. Pension updation on the pattern of 6 Pay

Commission

2. 100 percent DA neutralization to pre 2002

retirees

3. Uniform Medical Scheme for retirees

4. Two percent of bank profit should be allocated for

Welfare of bank retirees

5. One more option for pension should be given to all

past retirees who are originally eligible as per

provisions of Pension Regulation 1995

6. Differentiation between retirees and resignees

should be removed for pension option

7. Establishment of proper grievance redressal

mechanism for retirees in all Banks

8. Index based dearness rates should be granted to

retirees on quarterly basis along with servingemployees instead of six monthly basis.

9. Improvement in Ex-gratia amount payable to pre

1986 retirees

Under the I phase, AIBRF had already submitted

Memorandum to Sri Pranab Kumar Mukerjee,Honble Finance Minister, other Central Ministers,

Members of Parliament, Chairmen of all Banks, IBAauthorities and leaders of the United Forum of Bank

Unions.

We in the IOBRA took responsibility for and dulysubmitted the memorandum to Sri.M.Narendra,

Chairman and Managing Director Indian OverseasBank, Sri.T.M.Bhasin, Chairman and Managing

Director, Indian Bank, Com.C.H.Venkatachalam,Convenor UFBU and General Secretary AIBEA,

Com.R.J.Sridharan, General Secretary AIBOA andCom.L.Balasubramanian, who was Chairman of

NCBE at that time. We were assured of active support

by all the above mentioned ospitaliza

TH

FEDERATION NEWS

II PHASE OF AGITATION:

Mr Pranab Kumar Mukeerjee

I, senior citizen and Bank retiree, demand

immediate resolution of long pending

d e m a n d s o f p e n s i o n u p d a t i o n ,

i m pr ov em e nt o n f a mi l y p e ns i on ,

improvement in ex-gratia amount to pre

1986 retirees, 100% DA neutralization to

pre 2002 retirees, uniform medical

scheme etc. I humbly request you to ask

IBA & Banking Division officials to discuss

these demands with representatives of

retirees for immediate solution. With

respectful regards,

SUPPORT FROM UNITED FORUM OF BANK

UNIONS: NATIONAL CONVENTION

As per the II Phase of agitation, it has been proposed

to write post-cards to the Finance Minister drawing

his attention on the pending demands of bank

retirees. Each and every retiree shall write a post

card to the Finance Minister. This exercise is to be

done between 15 and 30 June. Out of the totamembership of over 35,000, AIBRF expects atleast

10,000 retirees shall write post cards. The post

cards are to be written in ones own handwriting

This alone will create the desired impact. The retiree

should write his/her residential address at the end of

the message. The post card should be sent to the

following address:

Honble Minister for Finance

Government of India13 Talkatora Road, NEW DELHI 110 001.

We give below the text of the message to be written

on the post card.

The third phase of agitation includes Press

conferences, press release and interaction with

medi a at ma ximum number of cent ers Dharna/Relay Hunger strike at large number o

centers will be the fourth phase of agitation. Weshall let you know the details in due course.

The National Convention was convened by UFBU in

the context of the increasing attempts to expedite

banking sector reforms, to outsource permanent andperennial banking jobs and services, to foist the

retrograde recommendations of KhandelwaCommittee Report and the inordinate delay in

resolving the important issues of the bankemployees and officers.

th th

15


16/24

The Convention was presided over by the followingleaders :-

Com. Rajen Nagar, AIBEA,Com. K.D.Khera,

AIBOC,Com. Milind Nadkarmi, NCBE, Com. N.S.Virk,

A I B O A , C o m . R a m e s h B a b u , B E F I ,

Com.B.S.Gill,INBEF, Com. K.K.Nair, INBOC,Com.

Dinesh Kulkarni, NOBW,Com. A.N.Madhusudan, NOBO.

Com. C.H. Venkatachalam, Convenor, explained the

seriousness of the issues before the bank employees

and presented the Declaration proposing an All IndiaAgitation & Strike on 7 July, 2011. Com. G.D. Nadaf

(AIBOC) seconded the Declaration.

Leaders of the UFBU constituent unions spoke in

support of the Declaration and appealed for

successful implementation of the programmes.

From our side, the Convention was attended by Shri

S.C.Jain, General Secretary, D.P.Gupta, Deputy

General Secretary, P.S.L.Haragopal, Vice President,

M.S.Chourey, Treasurer of All India Bank Retirees

Federation, besides 25 other activists.

In the said convention, AIBRF pledged full support tothe UFBUs agitation and long pending issues of

retired bank employees were effectively highlighted.

Most of the speakers from UFBU have concern on

retirees issues and expressed happiness on the

presence of retirees in the convention of serving

bank employees.

We are happy to inform that the Declaration adopted

by the Convention unanimously included Retirees

Demands like improvement in Pension Scheme,

100% D.A.Neutralisation, Improvement in Family

Pension, Ex-gratia payment etc. As such, our

National Organisation All India Bank Retirees

Federation has called upon its affiliated Units to

wholeheartedly participate with our banner in the

UFBU programmes all over the country.

In view of the above, we call upon our functionaries at

all levels to contact local UFBU representatives and

ensure that our retirees participate in the

demonstrations during 21 25.06.2011, Badge

Wearing on 30-06-2011, Mass Rally on 04-07-2011

and strike action on 07-07-2011 being ospitali by the

S ta te L ev el /D is tr ic t L ev el U FB U i n S ta te

Capitals/District Centres across the country and makethe agitation programme a resounding success.

The following leaders of the Central Trade Unions

took part in our convention.

D r. S a nj e ev a R ed d y, P re si d en t , I N TU C,Com. Gurudas Dasgupta, General Secretary,

AITUC,Com. B.N.Rai, General Secretary, BMS,Com.A.K.Padmanabhan, President, CITU, C o m .

Umraomal Purohit, General Secretary, HMS

th

Support from Central Trade Unions :-

Com. M. S. Upadhyay from General InsuranceEmployees All India Association, Com. Bhatnagar

from All India Insurance Employees Association andMr. S.C. Jain from All India Bank Retirees Federation

greeted our convention and extended their support.

Main Issues and Demands :-1. Do not privatise Public Sector Banks

2. Do not reduce Governments equity in

Public Sector Banks

3. Do not avail World Bank Loan to capitalisePublic Sector Banks

4. Do not proceed with merger of Banks

including the Associate Banks with SBI.5. Do not allow unrestricted entry of foreign

capital in banking sector.6. Do not delete Section 12(2) of Banking

Regulations Act

7. Do not remove the ceiling on voting rightsof foreign investors.

8. Do not issue licence to industrial houses tostart their own Banks.

9. Do not outsource permanent banking jobsand normal banking services

10. Do not proceed with the scheme of privatebusiness correspondents

11. Do not violate provisions of Bipartite

Settlement on outsourcing12. Provide adequate staff in Banks through

recruitments to maintain and improvecustomer services.

13. Revive BSRBs for recruitment of staff inPublic Sector Banks.

14. I m p l e m e n t t h e c o m p a s s i o n a t eappointment / financial compensa-tion

scheme as ospitali between IBA & UFBU.15. Issue revised uniform guidelines on house

building loan, vehicle loan and festiva

advance to bank staff.16. Implement 5 day banking

17. Regulate and define working hours of bankofficers.

18. Improve Pension Scheme in bankingsector on the lines of Central Government

Scheme updation of Pension along with

wage revision of in service employees,uniform D.A. neutralization, improvement

in commutation, Family Pension, Ex-Gratia

of pre 1986 retirees, etc.19. Withdrawal of Governments arbitrary

i n s t r u c t i o n s t o B a n k s n o t t o

improve/amend any service conditionwithout their permission.

S c r a p K h a n d e l w a l C o m m i t t e e

Recommendations.

All India Bank Strike slated for 7 Julypostponed to 5 August 2011

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17/24

AIBEA writes to Finance Minister onGrievances of Bank retirees

WeAIBEA

Shri. Pranab Mukherjee

Reg :

All India Bank Retirees Federation andUnited Forum of Bank Retirees Organisation

reproduce here below a letter dated 25 May2011 written by to the Hon'ble Minister ofFinance

Dear Sir,

The

have been representing to the Government andIndian Banks Association to redress some of theirgenuine grievances and demands but with no effectso far. You are well aware that the Pension Schemeevolved and introduced in the Banks is exactly on thelines of Central Government Pension Scheme andhence some of the improvements that have beenincorporated in the Government Pension Schemeconsequent to the 6 Pay Commission need to beextended to the bank retirees also. The recentextension of one more option to join the Pension

Scheme has brought great relief to number of retiredemployees and officers who are today covered by thePension Scheme and we are thankful to theGovernment for the same.

But the following issues of the bank retirees deservethe special attention of the Government and yoursympathetic consideration.

1. For the Government employees, on occasions ofsalary revision, pension revision is also givenand accordingly their pension is updated. But inthe case of bank retirees, the Pension remainsstatic as sanctioned at the time of theirretirement and does not undergo any change

thereafter. The periodical updation of pensionalong with salary revision of in-serviceemployees is very genuine and fair expectation,especially when the same is available to theGovernment employees.

2. Since their pension is fixed based on their pay atthe time of their retirement, there are currently5 different price index (600, 1148, 1684, 2288 &2836) on which DA is paid to the retireesdepending upon their period of retirement i.e. 1-1-86 to 31-10-92, 1-11-92 to 31-3-98, 1-4-98to 31-10-2002, 1-11-2002 to 31-10-2007 andfrom 1-11-2007 onwards. Their pension needs

to be adjusted and upgraded to a common priceindex by merging the DA upto that level . Thiswill bring in uniformity of indexing the Pension ofthe retirees.

3. In payment of DA, after introduction of 100%neutralization against price rise from 1.11-2002, those who have retired after this date arebeing given 100% neutralization for price risewhile the past retirees continue to be paid DA ona tapering basis with 4 slab formula of the earliersystem. There is a genuine need to extend

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Grievances of Bank Retires

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100% DA neutralization to all the retirees atleasfrom a prospective date.

4. While the in-service employees get DA variationon quarterly basis, for retirees, DA on Pension ispaid on half yearly basis. This needs to bechanged to quarterly basis for retirees also.

5. Under the 6 Pay Commission Report, there areimprovements in the rate of pension for veryaged senior citizens, in the commutation opension, eligibility service to get full pension, etcfor the Government pensioners and these needto be extended to the bank retirees too.

6. It is also experienced that the quantum of FamilyPension is very inadequate and this requires asympathetic approach from the Government torevise the same suitably.

7. Since the Pension Scheme was introduced in theBanks from 1.1.1986, the pre-1986 retirees arebeing given a Ex Gratia of Rs.300 per month +DA and their widows are being paid a fixedlumpsum Ex Gratia of Rs.1000 per monthThese pre-1986 retirees are aged 85 years andabove and are very few in number, may bearound 6000 persons in the entire banking

sector. Considering their age, ill-health, etc. theGovernment should kindly increase the Ex Gratiaamount.

8. There are number of grievances of the retirees athe Bank Level regarding delay in sanction oPension, delay in disbursements, etc. and henceGovernment / IBA should give proper guidelinesto all Banks to put in place a regulatedmechanism to redress these grievances. Thiswill help in avoiding / reducing litigations, etc. onthe part of the retirees.

9. Government has already advised the Banks toset apart a portion of the amount allocated for

Staff Welfare from the Net Profit of the Bankstowards ospitaliz the retirees. Still it is not beingimplemented properly. Hence Government mayconsider advising the Banks to set apart anuniform percentage of funds from out of theprofits towards Welfare Schemes for the retirees

10. The in-service employees are entitled tor eimbur sement of medic al expenses onoccasions of ospitalization but after retirementthe retirees are not covered by such facilities. Inthe context of ever increasing cost of medicat r ea t me n t, r e ti r ee s b e co m e e x tr e me l yvulnerable when they fall ill and hence some

uniform medical expenses reimbursemenscheme needs to be made available to them.These are some of the important grievances anddemands of the bank retirees. We request you totake a positive view of their grievances and advisenecessary steps to be taken by the Government / IBAin this regard.Thanking you,

Yours faithfully

GENERAL SECRETARY

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C.H.VENKATACHALAM

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18/24

Tamil Nadu Bank Retirees Federation Formed

Tamilnadu Bank Retirees

Federation,

AIBRF Central Committee meets

AIBRF

An adhoc committee of

representing bank retirees located in

the state of Tamilnadu and Union territory of

Puduchery has been formed with the objective of

bringing together all the bank retirees of this part of

the country on one platform so that we can work

effectively for achieving our long pending demands.

Sri.A.K.Narasimhulu,President CBRA has been

elected President,Sri.S.Velayoudam, GeneralSecretary AIIBRA has been elected Secretary and

Sri.B.Ramamurthy, Secretary UBRA has been

elected Treasurer of TNBRF.Sri.S.Srinivas Kumar,

General Secretary, BOBRA, Sri.S.V.Srinivasan,

General Secretary AICBRF, Sri.B.Ramji, Vice-

P re si de nt A IB RF a nd G en er al S ec re ta ry

IOBRA,Sri.A.Ramakrishna General Secretary

UCOBRA and Sri.T.Selvaraj, General Secretary

LVBRO were co-opted as Committee members. It

was decided to have the foundation Conference and

inauguration of TNBRF in September 2011 at

Chennai. As a prelude to the state level foundationconference, the Ad-hoc committee decided to

organize all bank retirees convention at important

centres of the state. This decision was implemented

and conventions were organized in Pondicherry on

08 -06-2011, Salem on 03-07-11, Coimbatore on

04-07-11, Trichy on 11-07-11 and Madurai on 26-

0 7- 11 . T he c on ve nt io ns w er e m ar ke d b y

enthusiastic and emotion packed participation of an

overwhelming number of retirees in the respective

centres. The success of the conventions have

convinced us that our movement has taken roots and

bound to scale new heights.

central Committee meeting is slated for 17

and 18 September and scheduled to be held in

Mangalore

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NO Income tax Return

T he C en tra l G ov er nm en t h as e xe mp te d

individuals whose total income for the relevantassessment year does not exceed

and consists of only income chargeableto income tax under the heads salaries/other

sources from the requirement of furnishing areturn of income under sub-section (1) of section

139 of Income tax Act for the Assessment year

2 01 1- 12 v id e N ot if ic at io n N o. 3 6/ 20 11[F. NO. 142/09/2011 (TPL)], Dt 23-6-2011.

five lakhs of

Rupees

Sri.G.Ravindra Kumar Gandhi takes

over as General Manager (Personnel)

Sri.G.Ravindra Kumar Gandhi

We wish him success in all his endeavours

has taken over

as General Manager(Personnel) from 6 April2011. With his abundant love for fellow IOBians

and respect and affection for retirees, Mr.Gandhihas come to the right place. We are happy to

welcome him to the new assignment

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IOB crosses business mix ofRs 2,50,000 crores

We are thrilled to know that our bank has

crossed business mix of Rs2,50,000/- croresthis year ending 31-03-11 and Rs.2,70,000/- for

the quarte ending30-06-11. The credit for thiss p e c t a c u l a r a c h i e v e m e n t g o e s t o

Chairman and ManagingDirector for infusing the team spirit in the

IOBians and leading them past this goal post of

glory.

We extend our greetings to

and all the members of the IOB family

Sri.M.Narendra,

Sri.M.Narendra,

IOBs hat trick plus

History has been created in IOB

t hr ee o f o ur G en er al M an ag er s, i .eSri.M.S.Raghavan, Sri.S.Chandrasekaran (

) a n dSri.Satyanarayan Misra

One of our longcherished desires has come true.In the recent interview to select persons to beposted as Executive Directors in Public sector Banks,

whow a s G M P e r s on ne l t i l l r ec en t l y

have been short listed forselection and posting as Executive Directors invarious banks.All the three have enough years of service to moveup and get posted as Chairman and ManagingDirectorsThis historic achievement has become possible due

to the guidance provided and relentless work put inb y o ur C ha ir ma n a nd M an ag in g D ir ec toSri.M.Narendra. We Congratulate him on thisachievementWe Congratulate the trio Sri.M.S.RaghavanSri.S.Chandrasekaran and Sri.SatyanarayanMisra and wish them all success. Friends! Youhave made us proud. We appeal to you to besympathetic to the cause of retirees in thebanks where you will be serving.We are also elated to know that Smt.NupurMitra has been elevated to head Dena bank asthe Chairman and Managing Director and will bejoining the bank very soon. We congratulateher on this well deserved elevation

18


19/24

Our membercelebrated the marriage of her daughter

within Chennai on

Smt. Sudha Santhosh Kumar

Sow. Nanditha Santosh Chi. AumbarishV. Athreya 24-01-11

Our member celebrated

t he m ar ri ag e o f h is d au gh te rwith in

Kothamangalam onOur Member celebratedthe marriage of his son

with inCoimbatore onOur Member celebrated themarriage of his daughterwith in Chennai on

Our Memberc e le br a te d t he m ar r ia ge o f h i s s o n

within Bangalore onOur Membercelebrated the marriage of his daughter

with inKolkata onOur membercelebrated the marriage of herd a u g h t e r w i t h

in Chennai on

Sri.P.Cheenu Mohan

S elvi.M. Meenakshi Selvan. M. Karthik

07-02-11Sri. S. Ramaswamy

Chi. R. LakshmiNarasimhan@Mohan Sow. Sukanya

16-02-2011Sri. R. Murugan

Sow. M AishwaryaChi. K. Arunkumar 23-02-

11Sri. S. Balachandran

Sow. Jyotsna21-03-11S ri . G ok ul C ha nd ra D as

Sow. Manisha Das Chi. Palash Kole07-03-11

Smt. Syamala Viswanathan

S o w . V a i s h n a v iChi. Vanjinathan@Karthik23-02-11

Chi. Venkatesh@Kannan

Our member celebratedthe marriage of his son with

in Chennai onOur member , celebrated themarriage of his daughter

in Eruvadi onour member celebrated the

marriage of his son withon 22-05-11 at Trichy

our membercelebrated the marriage of his daughter

with on 15-05-11 atChennai

formerly of West Mambalambranch and VRS 2000 retiree, celebrated his

our member celebrated

the marriage of his son within Chennai on

Our member celebratedthe marriage of his grandson Selvanwith on10-07-11 at DevakottaiO ur m em be rcelebrated the marriage of his son

withon 3 July 11 at Palakkad

Sri. S.KannappanChi. K.Ganesh

Sow. Gayathri 21-03-11Mr. Salahudeeen

Thaiyuba Nilofer with

Hassan Mohideen 8 May 2011Sri. P. Andiyappan,

Dr. A. Arun PrasathDr. R. MadhuvanthiSri. V.R. Balasubramanian,

Sow.Priya Chi.S.Praveen

Sri.Seshadri,

Shashtiabdapoorthi on 9 June 2011 inChennaiSri. R. Masilamani,

Chi. M. SrinivasSow R.Sasikala 29-06-11

Sri. N. LakshmananChellappan

Selvi. Mangaiyarkkarasi@Nithya

S ri . N .V . S ub ra m an i anChi.

Dr. N.S. Vishwanath Sow. N.V. Vidhya

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rd

We greet all concerned on this happy occasion

PERSONAL

It was the wedding Priya and Hitesh. At the end ofthe wedding party, Piyas mother gave her a newlyopened bank saving passbook With Rs.1000 depositamount.Mother: Priya, take this passbook. Keep it as a recordof your marriage life. When theres something happyand memorable happened in your new life, put somemoney in. Write down what its about next to the line.

The more memorable the event is, the more moneyyou can put in. Ive done the first one for you today.Do the others with Hitesh. When you look back afteryears, you can know how much happiness youvehad.Priya shared this with Hitesh when getting home. Theyboth thought it was a great idea and were anxious toknow when the second deposit can be made.This was what they did after certain time:615. 7 Feb: Rs.100, first birthday celebration for

Hitesh after marriage616. 1 Mar: Rs.300, salary raise for Priya617. 20 Mar: Rs.200, vacation trip to Bali

618. 15 Apr: Rs.2000, Priya got pregnant619. 1 Jun: Rs.1000, Hitesh got promoted.... and so on...

However, after years, they started fighting andarguing for trivial things. They didnt talk much. They

of

Bank Pass Book

regretted that they had married the most nastypeople in the world.... no more love... One day Priyatalked to her Mother: Mom, we cant stand ianymore. We agree to divorce. I cant imagine how Idecided to marry this guy!!!Mother: Sure, girl, thats no big deal. Just dowhatever you want if you really cant stand it. Butbefore that, do one thing first. Remember the saving

passbook I gave you on your wedding day? Take outall money and spend it first. You shouldnt keep anyrecord of such a poor marriage.Priya thought it was true. So she went to the bank,waiting at the queue and planning to cancel theaccount. While she was waiting, she took a look at thepassbook record. She looked, and looked, andlooked. Then the memory of all the previous joy andhappiness just came up her mind. Her eyes were thenfilled with tears. She left and went home. When shewas at home, she handed the passbook to Hiteshasked him to spend the money before gettingdivorce.

The next day, Hitesh gave the passbook back to PriyaShe found a new deposit of Rs.5000. And a line next tothe record: This is the day I noticed how much Iveloved you thru out all these years. How muchhappiness youve brought me. They hugged and cried

19


20/24

We are pleased to inform you that there has been an increase of 27 slabs of Dearness Relief payabfrom February 2011 to July 2011 pensioners, family pensioners and ex-gratia pensioners. The details ar

D.R Payable from August 2011 to January 2012

Retired on or after 01 01 86but before 01 11 92 / 01 07 93

Retired on or after 01 11 92 /01 07 93 but Before 31 03 98

Retired on or after 01 04 98but before31 10 2002

Over CPI 600 Slabs 919 Over CPI 1148 Slabs 782 Over CPI 1684 Slabs 648

Basic Pension Basic Pension Basic PensionAmount Amount Amount

273.70% 155.52%Upto Rs. 2400 Upto Rs. 3550615.73%Upto Rs. 1250

Rs.1251 -Rs.2000

Rs.2401 -Rs.3850

Rs.3551-Rs.5650

Rs.7696.62Plus 505.45%in excess ofRs.1250/-



Rs.2001 -Rs.2130

Rs.3851 -Rs.4100

Rs.5651-Rs.6010

Rs.11487.49Plus 303.27%in excess ofRs.2000.00



AboveRs.2130

Above

Rs.4100

Above

Rs.6010




Retired on or after 01-11-2002 but before 1-11-2007 Retired on or after 01 11 2007

Over CPI 2288 Slabs 497 Over CPI 2836 Slabs 360

Rate of

Dearness Relief

89.46 % of entireBasic Pension

54% of entireBasic Pension

RATE OF DEARNESS RELIEF PAYABLE ON EX-GRATIA TO

EMPLOYESS RETIRED PRIOR TO 01 01 1986 and their spouses

SLABS RATE TOTAL AMOUNT PAYABLE

919 615.73% on Rs.300 Rs.300/- plus Rs.1847.19 - i.e. Rs.2147.19 + Rs.1000 = 3147.19

Rate of

Dearness Relief

Sri.R.V.Srinivasan,

Sri.B.Ramaswamy Iyer

25-01-11

S.N.Soni, 22-02-11

Sri.Sridhar 15-

03-11

Sri.Lalit Mohan Paul

on25-04-11

Sri.M.C.Mahadevan,

Sri.S.Packiriswamy

former E.C.member of IOBRA

expired on05-06-2011 at Kovilpatti

our member expired in

Nagercoil on

Retired Executive Director of our bankdied in Lucknow on

our member expired in Chennai on

, our member expired in

Kolkata

former Deputy General

Manager, expired in Chennai on 30-04-11

our member expired on 09-

05-11 at Chennai

Sri.S.S.Sundaram

K. Renganathan, VRS Retiree IOB,

R.G. Ramani, Retd. Officer IOB,

Sri.P.Balakrishnan

Sri.P.Vellingiri,

our member expired in Chenna

on 02-07-11

expired in

Chennai

expired inChennai

our member expired in Trichy

on 27-06-11

our active member expired In

coimbatore on 19 July 2011

We pay our homage to the departed souls and offerour heartfelt condolences to the bereaved family

members.

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OBITUARY

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21/24

HC: Dont make retirees run pillar-to-post

for benefits

Jaipur, May 4 (PTI) The Rajasthan High Court has

ospitaliz the bureaucratic approach of government

officials in releasing retirement benefits. The single

judge bench said the benefits must be given timely,

without making the retirees run from pillar to post.Justice Ajay Rastogi in a detailed order said the

typical bureaucratic mindset of government officials

needs to change.The order came on a writ petition

filed by Shakuntla Sharma, wife of a former Chief

Engineer-cum-additional secretary who retired from

the service in 1969. The officer stopped getting

pension after September, 1971 without any reason.

The government failed to show why the pension has

been stopped and only lame excuses have been

given which shows that the government officials who

are in service have no respect for retired persons,observed Justice Rastogi. The court added a note of

caution, observing, those in service today must

remember that they will also retire in time to

come...this court records its displeasure with this

bureaucratic approach of not granting due benefits.

The court directed the state government to release

the pension of the deceased husband of the

petitioner from October 1971 with an interest of 9

per cent per annum.

of Pension Regulations states

that . The amount of Basic Pension shall be

calculated at 50% of the average emoluments

In the VII Bipartite settlement, a new definition of

was introduced,

in contravention of Regulation 35

This resulted in reducing the Basic Pension payable

to the pensioners from 50% of basic pay to 41% of

Basic Pay.This illegality was sought to be rectified in the VIII

Bipartite settlement which restored and re fixed

Basic pension of retirees to 50% of the actual

average emoluments drawn by the retirees.

The correction of pension aberration and restoration

of 50%of last drawn pay as Basic pension to post 01-

4-98and future retirees has been given prospective

effect from 1-5-05. As it is only a correction of an

Historic Judgment by Madras High Court: Good

n ew s f or m em be rs r et ir ed b et we en01-04-1998 and 2002 including VRS 2000

retirees

Regulation 35 (2)

Pay for the purpose of Pension

earlier mistake, this has to be given effect from the

date of retirement of the pensioner concerned and

the difference in commutation of pension also has to

be paid.

Excerpts from the judgment are published herebelow

Retirees from various banks had taken

up the matter to various High Courts.

In one of the Writ petitions filed by a retiree of

Bank of Baroda The Division Bench of MadrasHigh Court had decreed that the aberration be

corrected with retrospective effect from the

date of retirement and the retirees be paid

arrears and difference in commutation amount

due to them.

Com. C R C appeared for the plaintiff. There are

some more WPs filed by Comrades from other

banks on the same ground. We expect similar

j u d g m e n t o n t h e o t h e r c a s e s t o o .

We Congratulate Com. C.R C for obtaining this

path breaking Judgment

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 28.6.2011

CORAM:

THE HONOURABLE MR.JUSTICE ELIPE DHARMA RAO

AND

THE HONOURABLE MR.JUSTICE K.K.SASIDHARAN

Writ Appeal No.1209 of 2007

1.G.Palani and others ... Appellants

Vs.

1.Bank of Baroda,2.The Competent Authority for Pension Regulations,

Bank of Baroda,3.Union of India, represented by its Secretary to

the Banking Division, Ministry of Finance,New Delhi-110001. ... Respondents

* * *Writ Appeal preferred under clause 15 of the Letters

Patent, as against the order of the learned single Judgedated8.8.2007 made in W.P.No.8945 of 2001.

* * *For appellants : Mr.AL.Somayaji,

Senior Counsel forMr.C.R.Chandrasekaran

For R.1 & R.2 : Mr.A.P.S.Kasturi Rangan forM/s.Sampathkumar andAssociates

* * *

LEGAL CORNER

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22/24

JUDGMENT

ELIPE DHARMA RAO, J.

The appellants are the retired employees of the

respondents 1 and 2/Bank of Baroda between 30.11.1998

and 31.8.2000, either on superannuation or on voluntary

retirement.

2. Originally, they have initiated these writ proceedings

praying to issue a writ of mandamus directing the

second respondent to pay the difference in basic

pension and additional pension and commutation ofpension with interest at a rate to be determined by

this Court, in terms of the Bank of Baroda

(Employees) Pension Regulations, 1995 (hereinafter

referred to as the Regulations).

3. After the respondents brought in an amendment to

the Regulations in April, 2003, by adding sub-clause

(c) after 2(S)(b) with retrospective effect from

1.4.1998, the appellants have filed a petition to

amend the prayer before the learned single Judge and

on the same having been allowed, the prayer has

been amended to one of a writ of Declaration, to

declare that sub-clause (c) of clause (S) of

Regulation 2 of Bank of Baroda (Employees) PensionRegulations, 1995 is null and void and direct the

second respondent to pay the difference in basic

pension and additional pension and commutation of

pension with interest at a rate to be determined by

this Court, in terms of the Bank of Baroda

(Employees) Pension Regulations, 1995'.

4. From the materials placed on record, it is seen that

Pension scheme was first introduced in 1995 in Banks

and thereafter by virtue of the Joint Note signed by

the Indian Banks Association with various Bank

Officers Unions on 14.12.1999, on salary revis

veteran august issue final copy (3)

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