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

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

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Sri M. Narendra
Chairman and Managing Director, Indian Overseas Bank will be the Chief Guest

Sri AL. Chandramouli

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

Greetings by
Sri A. Vellayan
Director, Indian Overseas Bank & Chairman, Murugappa Group

Smt. Nupur Mitra

Executive Director, Indian Overseas Bank

Sri A.K. Bansal

Executive Director, Indian Overseas Bank

Sri G. Ravindrakumar Gandhi

General Manager, Indian Overseas Bank

Com. L. Balasubramanian
President, AIOBEU 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: Sri. T.R. Venkataraman Presidential Address: Sri. AL. Chandramouli, President Address by Chief Guest: Sri. M. Narendra, C & M.D., IOB Presentation of Pay Back Scheme cheque to Mr. A.R. Palanisamy, Secretary SEED Introductory Remarks: Sri. J. Balasubramanian Presentation of Cheque: Sri. KM. Narayanan Honouring Retired General Managers Honouring AIOBEU and IOBOA Sri. A.Vellayan, Director, IOB Felicitations : Smt. Nupur Mitra, Executive Director IOB Sri. A.K. Bansal, Executive Director IOB
Sri. G. Ravindrakumar Gandhi, General Manager, IOB

D D D D D

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Vote of Thanks : National Anthem

Com. L. Balasubramaniam, President AIOBEU Com. S. Srinivasan, General Secretary AIOBEU Sri. B. Ramji, General Secretary

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

Volume : 2 President Speaks August 2011
Issue: 3

My Dear Veterans! Since our last Issue many good things listed below have happened in our Bank for the Retirees thanks to the positive attitude exhibited by our beloved C & M D Mr. Narendra, General Managers Mr. S. Chandrasekaran, Mr. G.R. Gandhi, Deputy General Manager Mr. 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 of deceased Pre 1986 Retirees. We have been representing to the Bank for increasing the Ex-Gratia amount since 1st September 2008. We are happy Bank has conceded to our demand now. This is IOB exclusive. Had our Retired Executive Director Mr. S.N. Soni been alive he would have been happy because this was the demand made by his wife when the undersigned and Mr.B.Ramji called on them in Lucknow. Now his wife along with others will get this benefit. 2. Bank has set up Grievances Cell in response to our demand made to the Parliament Committee. our Banks Circular quoting IBAs Circular refers to this in their preamble. 3. Doubled the amount 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. Bank is actively considering : To give one more option for the Retirees to join REMAS and permit optees of VRS 2000 also to join the scheme 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 shortly Bank will regain its glory and become the Best Bank in the industry. In the recently concluded Executive Directors interview our Bank has got bountiful with selection of Mr. S. Chandrasekaran and Mr. M.S. Raghavan as Executive Directors to fill the vacancies in UCO Bank and Indian Bank respectively. Mr. S.N. Mishra has been selected and 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 to note that IOBs potential has been recognized and wish the same trend continues in the years to come. th We are celebrating Platinum Jubilee of the Bank on 10 August 2011. Our Chairman and Managing Director Mr.Narendra, Mr.A.Vellayan Director of our Bank and Chariman Murugappa Group along with Executive Directors Mrs.Nupur Mitra and Mr. A.K.Bansal will address the Retirees. Com Mr.L.Balasubramanian President AIOBEU and General Secretary NUBE will also offer his felicitations. Formal Inivtation is enclosed to this issue of The Veteran. I request all Veterans to attend the meeting without fail. At the apex level we are trying to form Tamil Nadu Bank Retirees Fedeartion . So far we had meetings in Pondicherry. Coimbatore, Salem, Trichy and Madurai. The response everywhere was overwhelming. The Federation will be inaugurated shortly in Chennai. Once again I request you to attend the proposed meeting of our Association on 10th August 2011 and make it a resounding success. With Regards, Yours truly Al. Chandramouli President

CONTENTS 1) 2) 3) 4) 5) President speaks 1 G S Speaks - The Course of a movement 2 An Appeal Pay back Grows 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 day Chennai1 and Chennai -4 Regional Councils Joint meeting Kolkata Regional Council, Quarterly Meeting and Annual General meeting Madurai Regional Council Inaugurated Palakkad Regional Council : Meeting of 24-04-11 and 17-07-11 Hyderabad Regional Council meeting Salem Regional Council Inaugurated 6) New Pension scheme Launched 7) AIOBEU launches NUBE 8) FEDERATION NEWS Office-bearers meeting of AIBRF AGITATIONAL PROGRAMME LAUNCHED BY AIBRF SUPPORT FROM UFBU: NATIONAL CONVENTION AIBEA writes to Finance Minister on Grievances of Bank retirees Tamil Nadu Bank Retirees Federation Formed AIBRF Central Committee meets No Income tax return 9) BANK NEWS Sri.G. Ravindra Kumar Gandhi takes over as General Manager (Personnel) IOB crosses business mix of Rs 2,50,000 crores IOB 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 CORNER HC: Dont make retirees run pillar-to-post for benefits Historic Judgment by Madras High Court:

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. 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 we were all actively involved till our retirement. History never tires of repeating. It is happening once again. The growth of Bank Retirees organizations is slowly and steadily building up into a movement. AIBRF is undoubtedly the pioneer and leader of this movement. The defining events in the course of the movement are Our appearing before the Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice on 28 January 2009 and our stellar role in securing one more option for pension for retirees.
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Our conscious efforts to promote and retain all cadre character in our organization meting out equal treatment to all retirees whether he/she is a General Manager retiree or a part time sweeper retiree, to bring all 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 UFBU for achieving our demands has won the appreciation 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 movementsEmployees 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 and capable leaders. There are two types of retirees organizations in banks. There are all-cadre organizations where award-staff retirees, retired officers and executives are members. Their ideology is that after retirement, there is no difference between them. These organizations are mostly affiliated to All India Bank Retirees Federation (AIBRF). There are some more organizations whose membership is restricted to retired officers. These organizations are mostly affiliated to Retired Bank Officers National Confederation (RBONC). Both these organizations have come together under the umbrella organization United Forum of Bank Retirees Organisations (UFBRO). Both AIBRF as well as RBONC have affiliates in a number of Banks AIBRF in 18 and 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 securing 5 year weightage for VRS 2000 retirees and securing one more option for pension to the retirees is substantial and can not be ignored. IOBRA as well as AIBRF, representing UFBRO, appeared before the Parliamentary Standing Committee on Personnel, Public Grievances, Law and Justice on 28 January 2009, wherein IBA( represented by its CEO, Deputy CEO and Personnel officer) Dept of Banking of Ministry of Finance( represented by the Joint 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.Sanctioning D.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 in the 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 for retirees 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 of retirees 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 to set 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 to retirees 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 of IBA 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 Parliamentary Standing 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. December 2008- when the Triennial Conference of AIBRF was held in Chennai to April 2010 when the Second option for pension for retirees became a reality was the period of hectic activity for both the retirees organizations and they moved to center stage and also drawn closer to inservice 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 the retiree officers under the banner of AIBOC in order to consolidate their movement and ensure greater relief to them. They observeThere are a number of Retirees/Pensioners Associations all over the country, not been able to resolve grievances during the last several years. Hence the Confederation should take up the task of organizing the pensioners under its banner. It also observed The multiplicity of the organizations with no proper direction are only a hindrance for the resolution of long pending issues of the pensioners in the banking industry Thus AIBOC floats organizations for Retiree officers by splitting existing retiree organizations. Fine logic indeed- Their stated objective will be 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 existing retiree organizations. AIBOC laments on non resolution of long pending issues. But two of the major three issues namely 1. Denial of 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 of rectification of Basic pension anomaly in the 8 Bipartite in respect of post 1-04-98 and pre 01-052005 retirees, owe their origin to a period when the then General Secretary of AIBOC was the convenor of UFBU 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.
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All these make one suspect the motive of AIBOCs move to split retirees movement at this juncture. 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 of 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 up brick 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,

B.Ramji
General Secretary

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 Mobile E-mail ID Date of Birth Educational Qualification Bank Roll No. Date of Joining the Bank Date of Retirement .................. Designation on Retirement Branch last Worked Whether opted for Pension Pension Payment Branch Basic Pension ........... D.R........... Whether Presently employed If Yes, Details Blood Group Brief Medical History

: : Res. : Off. :

: ..................................................................................................... : ..................................................................................................... : ................................... : ................................... : : : : : : : : : : : : Yes / No Yes / No Super Annuation / Voluntary / Compulsory / VRS 2000 P.P.O. No.

Contact Address

(in case of emergency)

: :

Any other relevant information

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/-.

MEMBERSHIP

Backside blank
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An Appeal
Dear Friends! We request all retirees who have not yet become our members to become members and strengthen our organization. We request our members to help us by canvassing and making all their friends as our members. We are attaching a membership application form for your use. We request all Family Pensioners who have not yet become our members to become members and strengthen our organization. We request old members who had become members before 2008 and who have not sent latest personal data after 2008 to fill up the attached membership and bio-data form withoutany Cheque/DD for updating our record We request all beneficiaries (Retirees) of Second option for pension to send in their donation (equal to 15 days Pension) by cheque / DD favouring IOB Retirees Association Members are requested to remit Rs 100/towards postage for posting The Veteran Members are requested to donate liberally to improve the financial position of our Association. Members are requested to donate Liberally under Pay back scheme. Donate liberally for effective functioning. Strengthen IOBRA and AIBRF

Pay back Grows

We are overwhelmed by your response to our editorial Pay back time that appeared in earlier issues of The Veteran We had received some more response from some of our members in the form of contribution as follows. Radhakrishnan P.Thirumoorthy P.Murari Rao M.Kameswara Rao S.Natarajan M.A.Eswaran M.K.Bhaskaran A.O.Bakkiam Mrs.Valli Ulaganathan K.Ponnambalam R.Rajagopal S.Ganapathy Subramanian H.Parasuraman 1000 1000 1000 1116 800 500 1000 500 500 500 1000 2000 1200 12116

Association News
Meeting with Sri.S.ChandrasekaranGM(PAD) on 10-03-11 We have been reporting in the last few issues of The Veteran, about the various issues affecting the retirees, which we have taken up with our Management. We are glad to inform our members that our representatives, Sri. J. Balasubramanian, General Manager Retired, Chairman of Chennai 6 (Mambalam Ashok Nagar and our K.K. Nagar) Regional Council General Secretary met the General Manager (Personnel) Sri. S. Chandrasekaran on 10th March 2011 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
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successor Sri. Ravindra Kumar Gandhi took over on 6th April 2011.The credit for working out details and successfully implementing the commitments given to us by his predecessor. We could discuss the following matters during the meeting 1. Enhancement of Ex-Gratia Amount paid to pre-1986 retirees and spouses of deceased pre-1986 retirees. We had taken up the matter with the Chairman and Managing Director of the bank vide our letter dated 1-0908 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

amount to Rs5,000/-. After working out the cost of the enhancement, Sri.Chandrasekaran agreed to get it enhanced by Rs1000/- per month with effect from 01-04-11. It has been implemented in June 11. 2. Welfare Scheme for retirees- Festival Advance. 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 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. Indian Overseas Bank Retired Employees Medical Assistance Scheme (IOBREMAS) 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 Indian Overseas Bank Retired Employees Medical Assistance Scheme ( IOBREMAS) for 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, one more option was given to all retirees(other than VRS 2000 retirees) to join the scheme and some improvements were made in the scheme, in September 2007. Since then, we have been
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taking up with the bank to extend coverage of the scheme to all retirees without exception. 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 29th September 2009, for extending coverage of the scheme to all retirees. It is pertinent to note that the membership of IOBREMAS is very low in comparison to the total 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. We are glad to inform you that the General Manager agreed to consider our request. The matter is being placed before Staff Welfare Committee for approval. 5. Sanctioning Pension ( 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

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 Sri. P.N. Balasubramaniam, 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 all the similarly placed retirees. But the bank did not do so for reasons best known to them We had requested the bank to render justice to other similarly placed retirees and order sanctioning of pensionary benefits to them with retrospective effect. We are glad to inform you that the General 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) 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 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 of death 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 had requested the bank to implement the same and notify the beneficiaries of this decision.
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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) 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 given to 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 nonpensioner retirees have not been issued with I.D. Cards. We once again wrote to the bank vide our letter dated 15-06-2010 requesting them to issue Identity cards to all retirees. We are glad to inform you that the General 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: 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 Basic pension was refixed. We are glad to inform you that the General 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.

9. Enhancement of Pension Loan amount: We had requested for enhancement of Quantum of Pension Loan. We are glad to inform you that the General Manager agreed to our demand. 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: Circular No : ADV/002/2011-12 Dated : 05-04-11 Issuing Dept : Retail Banking and Marketing. Earlier Circular referred : ADV/16/2006-07 dated 30-06-2006 Purpose of loan : For meeting any personal expenses and the endues need not be verified. Eligibility : All pensioners Quantum of Loan : The loan amount restricted to 10 months pension with a ceiling of Rs2.00 lakhs for those not over 65 years of age and Rs.1.00 lakh for those who are over 65 years of age Repayment period : Repayable out of pension amount in 48 EMI for those not more than 65 years and 36 EMI for those over 65 years Interest Rate : At present under floating rate, it is base rate+2.75% and fixed rate it is 11% Security : Security not insisted. Obtention of undertaking letter from the spouse or waived for Ex-Staff other legal heirs 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. He promised 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 thank Sri. S. Chandrasekaran, General 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 all round growth to IOB, our bank 10. Setting up Grievance Cell. We had taken up this matter with the bank vide our letter dated 26-06-09, which was followed up with letters dated 26-12-09, and 19-04-10, and 18-01-11. The Indian Banks Association,vide its Circular No. CIR: HR&IR/GS/2008-09/3059 dated 30-03-09 had asked member banks to establish grievance cell for redressal of grievances of retirees. Main features of this mechanism are as under: 1. Grievance cell will be established at corporate 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 AIBRF. It is a matter of great satisfaction for us as this is a direct outcome of the 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. to discuss the grievances raised by our organization, I.O.B. Retirees Association. You will find a mention of this meeting in the opening sentence of the above mentioned IBA communication reading 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.
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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. Detailed circular has since been issued. The Circular is reproduced here below: From INDIAN OVERSEAS BANK GRIEVANCE CELL PERSONNEL ADMINISTRATION DEPARTMENT CENTRAL OFFICE, 762 ANNA SALAI, CHENNAI 600002 To ALL INDIAN BRANCHES/ REGIONAL OFFICES

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

GRIEVANCE CELL FOR RETIRED BANK EMPLOYEES PREAMBLE IBA and Ministry of Finance had appeared before the Parliament Standing Committee on Personnel and Public Grievances, Law and Justice based on a representation made to the committee by the Retired Bank Employees. The issue of requirement of Banks looking into Grievances of Retired Employees was discussed in the Management Committee of IBA. The Committee after deliberations approved the setting up of a grievance Cell at 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 at Central Office.The functional set up of Grievance Cell will be as follows. The letters/complaints received from individuals/retiree associations are classified as Grievance and Non-Grievance, depending on the nature of letters/complaints as detailed below: Grievances a) Complaints about delay or non-payment. (Payment of Pension,Payment of medical bills under REMAS) b) Grievances of non implementation of policies, wrong interpretation of policies or improvements. Demand for new benefits/facilities/conveniences Non-Grievances 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 functions are assigned 1. Grievance cell I named as Indian Overseas Bank Retirees Grievance Cell 2. 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 of Branches/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 Fax 4. 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 within 15 days and under advice to the sender 5. Letters / Complaints received at Grievance Cell, C.O shall refer the matter to the Department / officials concerned 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 be resolved 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 satisfy himself that the grievance has been satisfactorily resolved by the concerned departments/officials. If it is not satisfactory, 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 entries 9. 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 General Manager(PAD), Central Office 10.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 in another 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 a separate Grievance Cell at Central Office functioning at the following address: INDIAN OVERSEAS BANK RETIREES GRIEVANCE CELL PERSONNEL ADMINISTRATION DEPERTMENT
Central Office, 762 Anna Salai, Chennai 600002. Ph : 044-2851 9644, Fax : 044-2851 4911, E-mail : pension@iobnet.co.in

( G.R.GANDHI ) GENERAL MANAGER

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Pension Payment to I O B Pensioners 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 New year day i.e. 01-01-11. 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 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 Bank of India, and Central Bank of India, are paying pension to their pensioners on the last working day of the month itself. Therefore, we requested the bank to change the present system and start paying pension to our pensioners on the last working day of the month itself. We are glad to inform you that the bank paid pension for the month of May 2011 on the 31st May itself and has decided to make payment of Pension in the ensuing months on the last day of the month for which pension is paid. We thank our CMD Sri.M.Narendra and GM Personnel Sri.G.Ravindra Kumar Gandhi, for this act of love and affection for the retirees.
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New Pension Optees: Deduction of tax at source: 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 for the month of November 2007 recovered from serving employees as well as the additional contribution of 56% of the banks contribution of P F. deposited by the retirees at the time of opting for Pension as contribution to Approved Superannuation Fund (Pension Fund) to enable them to avail of deduction under section 80C (2) (vii) of the Income Tax Act1961. Chennai 1, Mylapore - Triplicane Regional Council and Chennai 4, Adyar, Besant Nagar, Tiruvanmiyur Regional Council joint meeting A meeting of the members attached to our Chennai 1 and Chennai 4 regions was held in Vivekananda Hall at P.S.Higher Secondary School.on25th April 2011 Sri.V.S.T.Kumaraswamy, Our Founder Vice-President Presided over the meeting. Sri.T.R.Venkataraman, Chairman of our

Chennai-4 Regional Council welcomed the gathering and Sri.K.M.Ramanathan Regional Secretary Chennai-1 Regional Council compered the 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 meeting with General Manager Sri. S. Chandrasekharan on 10-03-11, wherein favourable decisions were taken on a number of matters pertaining to retirees. Our Regional Office-bearers and members present in the 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 and the purpose for which ARISE was formed. He narrated how, during our last Triennial Conference In 2008 he approached ARISE through IOBOA and requested them to come back to IOBRA which they split to form ARISE. They did not at all respond at that time. Subsequently also they were continuing their activities as a rival organization. Mr.Ramji narrated the decision of AIBOC to split the bank retirees Movement by promoting an exclusive organization for retiree officers. It is against this background the anxiety of ARISE to merge with IOBRA to be viewed. Our ideological commitment to run our Association as an All cadre organization and our affiliation with AIBRF/UFBRO has to be cherished and preserved at all costs. The scheming move to hijack our organization to AIBOC will be resistedsaid our GS. The entire audience unanimously approved the principled stand taken by our Association. The following members who have crossed 70 years of 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 and 7. Sri. R. Ramadurai Sri.P.K.Shantaram Regional Secretary Chennai-4 Regional Council Proposed vote of thanks Kolkata Regional Council Quarterly meeting The Kolkata Regional Council conducted its quarterly meeting on 05-03-11. The meeting was well attended. The P.F.Optee retiree members who exercised their option and got their pension sanctioned under one more option shared their happiness. Their grievances pertaining to mistakes in their PPOs were listed out for rectification. Annual General Council Meeting Our Kolkata Regional Council conducted its Annual General Council meeting on 12-06-11 at Regional office Kolkata. Sri.B.Ramji General Secretay IOBRA participated and detailed the various developments

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at our organizational level and at the industry level. He gave details of decisions taken in our meeting with GM(PAD) Sri.S.Chandrasekaran on 10-03-11 where positive decisions were taken on a number of matters resulting in benefits to retirees Our Regional Office-bearers and members present in the meeting wanted to know about our Associations stand on the matter of unifying ARISE as well as IOBRA. Mr.Ramji narrated the decision of AIBOC to split the bank retirees Movement by promoting an exclusive organization for retiree officers. It is against this background the anxiety of ARISE to merge with IOBRA to be viewed. Our ideological commitment to run our Association as an All cadre organization and our affiliation with AIBRF/UFBRO has to be cherished and preserved at all costs. The move to hijack our organization to AIBOC will be resisted- said our GS. The entire audience unanimously approved the principled stand taken by our Association. The Annual report for the year 2010 as well as Accounts 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.Kashinath Dey and Sri.Nirmal Kumar Goswami The following members were elected to the Regional Council for the year 2011: Sri.G.C.Basu, President 9830467468 Sri. Robin Ganguly, Jt.Convenor 9830827050 Sri.D.K.Bhaumik, Jt.Convenor 8013316837 Sri.Tapan Maitra, Member 9831222957 Sri.Tapan Roy, Member 26412897 Sri.Amiya Banerjee Member 9674374796 Sri.Harendra Nath Mandal, Member 9432331773 Sri.Mohinimohan Das Adhikary, Member 9831941462 Sri.P.K.Bagchi Madurai Regional Council inaugurated. 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 in matters of interest to retirees especially the second option for pension to retirees. Sri. B.Ramji General Secretary IOBRA inaugurated the Regional Council and addressed the members appraising them of the latest developments. 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 r i . C . M u t h i a h , S r i . K . Po n n a m b a l a m , Sri. S.V.R. Venkatachalam, Sri. K. Velu Maharajan and Sri. Rm. Viswanathan

The Regional Council is constituted with the following members Sri.R.Venkateswaran Chairman- 94865 03688 Sri.M.Muthu Secretary-93455 04035 Sri.M.A.Shanmugam Member - 94430 16938 Sri.V.Chellapandi Member - 94867 28828 Sri.N.Panchatcharam Member -94430 28538 Sri.S.Shanmuganathan Member -94433 05596 Sri.V.Balakrishnan Member -99449 34430 Sri.S.Piramanayagam Member -94430 81463 Sri.N.Narayanan Member -94437 74839 Palakkad Regional Council : Meeting of 24th April 2011 The quarterly meeting of Palakkad Regional Council was held on 24-04-11. Sri.M.Radhakrishnan, member of our Chennai -1 Regional council was the chief 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 age was honoured.Sri P. Aravindakshan & C Ramachandran (both Committee Members) Spoke the problems faced by Retirees. Sri M Radhakrishnan, in his key note address explained in detail the difficulties faced because of the rival association, ARISE. He also stressed that number of persons attending the meeting is important, but more important is their INVOLVEMENT Sri. P V Parameswaran, Retd A G M, who was on the Dias released the much awaited Address Book of I O B R A- Palakkad Unit and presented first copy to Mr. M B Chandran.Copies were given to all the members present, By Mr G Chandran. Convener Mr G Chandran, read the minutes and accounts of the last meeting, which was approved unanimously, by the sadas. The meeting concluded with the Vote of thanks by Mr G Chandran, Convener. Meeting of 17 July 2011 The quarterly meeting of Palakkad Regional Council was held on 17 July 2011.Sri.M.B.Chandran presided over the meeting. Sri.T.R.Gopalakrishnan was also on the dais.Mr.C.Ramachandra varrier welcomed the gathering.Mr.Mohan Ram.C.Menon Legal Advisor spoke on the need for leaving a will and how to prepare a will. Sri. G.Chandran, Regional Secretary spoke on pending issues. Sri.S.Jagannathan, Regional Secretary, Coimbatore Regional council informed members on latest developments. He gave details of decisions taken in our meeting with GM(PAD) Sri.S.Chandrasekaran on 10-03-11 where positive decisions were taken on a number of matters resulting in benefits to retirees. Sri.G.Chandran proposed vote of thanks
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Hyderabad Regional Council A meeting of members attached to Hyderabad Regional Council was held on 03-04-11 at Hyderabad. Sri.T.Venkata Reddy, Retd G.M. presided over the meeting. Sri.B.Ramji General Secretary IOBRA participated and detailed the various developments. He gave details of decisions taken in our meeting with GM(PAD) Sri.S.Chandrasekaran on 10-03-11 where positive decisions were taken on a number of matters resulting in benefits to retirees The following members who had crossed 70 years were honoured: 1. Sri.I.Bhaskara Rao 2.Sri.S.V.Ramakrishna 3. Sri.M.Kameshwra Rao 4. Sri.M.Srirama Rao 5. Sri.V.V.G.K.Murthy 6. Sri.S.Udayachala Rao 7. Sri.A.Ramanatha Rao 8. Sri.A.Sundara Raj 9. Sri.V.V.Sarma 10. Sri.R.Venkateswarulu 11. Sri.K.V.P.Sastry 12. Srimati.S.R.Ramesh Kumar. Salem Regional Council Inaugurated The inaugural meeting of our Salem Regional Council was held on 03-07-11 at Salem.Sri.T.R.Nagaswamy, retired DGM presided over the meeting. Sri.N.Vijayaraghavan Regional Secretary of our Chennai 2 Region welcomed the gathering. Sri.S.Jagannathan Regional Secretary IOBRA addressed the members on the achievements of our Association, more particularly, the one more option for pension for retirees Sri.B.Ramji General Secretary IOBRA addressed the members detailing the latest developments and inaugurated the Regional 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 the following members: Sri.T.R.Nagaswamy Chairman 9250033820 Sri.B.G.Ramamurthy Secretary 9150413578 Sri.B.S.Barkhatullah Member -9842816692 Sri.V.Jayakumar Member -Namakkal Sri.P.Rajendran Member -99445 10335 Sri.A.Singaravelu Member _94439 34501 Sri.R.Kandaswamy Member -9443244052 Sri.M.Manickam Member -9442958658 Sri.M.Munuswamy Member 9362026625 Sri.M.Chandrasekaran Member 98942 34001 Sri.T.M.Thangavelu Member -9443479864 Sri.R.Srinivasan Member -99245449592 Sri.A.Michaelraj Member 9443219853

New Pension Scheme introduced 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 on or after 1 April 2010 shall be eligible for the Defined Contributory Pension Scheme the banks will be introducing for them.
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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).
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There shall be no separate Provident Fund for employees joining services of the Bank on or after 01.04.2010. The employees joining the services on or after 01.04.2010 shall contribute 10% of the pay and dearness allowance towards the Defined Contributory Pension Scheme and the bank shall make a matching contribution 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 Government Sector Pension Fund Managers. AIOBEU launches NUBE Old timers in Bank employees trade union movement, especially in Indian Overseas Bank remember the contribution of AIOBEU in building up apolitical trade union movement in banking industry. It was in this process, the first Bank employees central trade union, National Union of Bank Employees was formed way back in 70s. With State Bank employees joining, it later on became NCBE. Due to organizational differences, AIOBEU decided to part ways with NCBE and launch a new Central Trade Union Organisation named National Union of Bank Employees. Apart from AIOBEU, there are some more banks in it. Com.L.Balasubramanian, President AIOBEU has been elected its General Secretary. Nube has already been registered and has been invited to appear before Central Labour Commission for conciliation on the strike notice issued for strike on 05-08-11. We wish NUBE all luck and success.

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FEDERATION NEWS
Office-bearers meeting of AIBRF 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. AGITATIONAL PROGRAMME LAUNCHED BY AIBRF 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 serving employees instead of six monthly basis. 9. Improvement in Ex-gratia amount payable to pre 1986 retirees I PHASE OF AGITATION SUBMISSION OF MEMORANDUM: 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, IBA authorities and leaders of the United Forum of Bank Unions. We in the IOBRA took responsibility for and duly submitted the memorandum to Sri.M.Narendra, Chairman and Managing Director Indian Overseas Bank, 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 and Com.L.Balasubramanian, who was Chairman of NCBE at that time. We were assured of active support by all the above mentioned ospitaliza
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II PHASE OF AGITATION: 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 total membership 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: Mr Pranab Kumar Mukeerjee Honble Minister for Finance Government of India 13 Talkatora Road, NEW DELHI 110 001.
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We give below the text of the message to be written on the post card. I, senior citizen and Bank retiree, demand immediate resolution of long pending demands of pension updation, improvement on family pension, 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, The third phase of agitation includes Press conferences, press release and interaction with media at maximum number of centers . Dharna/Relay Hunger strike at large number of centers will be the fourth phase of agitation. We shall let you know the details in due course. SUPPORT FROM UNITED FORUM OF BANK UNIONS: NATIONAL CONVENTION The National Convention was convened by UFBU in the context of the increasing attempts to expedite banking sector reforms, to outsource permanent and perennial banking jobs and services, to foist the retrograde recommendations of Khandelwal Committee Report and the inordinate delay in resolving the important issues of the bank employees and officers.

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The Convention was presided over by the following leaders :Com. Rajen Nagar, AIBEA,Com. K.D.Khera, AIBOC,Com. Milind Nadkarmi, NCBE, Com. N.S.Virk, AIBOA,Com. Ramesh Babu, BEFI, 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 India Agitation & 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 to the 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 State Level/District Level UFBU in State Capitals/District Centres across the country and make the agitation programme a resounding success.
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Com. M. S. Upadhyay from General Insurance Employees All India Association, Com. Bhatnagar from All India Insurance Employees Association and Mr. 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 capitalise Public 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 rights of foreign investors. 8. Do not issue licence to industrial houses to start their own Banks. 9. Do not outsource permanent banking jobs and normal banking services 10. Do not proceed with the scheme of private business correspondents 11. Do not violate provisions of Bipartite Settlement on outsourcing 12. Provide adequate staff in Banks through recruitments to maintain and improve customer services. 13. Revive BSRBs for recruitment of staff in Public 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 e appointment / financial compensa-tion scheme as ospitali between IBA & UFBU. 15. Issue revised uniform guidelines on house building loan, vehicle loan and festival advance to bank staff. 16. Implement 5 day banking 17. Regulate and define working hours of bank officers. 18. Improve Pension Scheme in banking sector 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 instructions to Banks not to improve/amend any service condition without their permission. Scrap Khandelwal Committee Recommendations. All India Bank Strike slated for 7 July postponed to 5 August 2011
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Support from Central Trade Unions :The following leaders of the Central Trade Unions took part in our convention. D r. S a n j e e va Re d d y, P r e s i d e n t , I N T U 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

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AIBEA writes to Finance Minister on Grievances of Bank retirees

th We reproduce here below a letter dated 25 May 2011 written by AIBEA to the Hon'ble Minister of Finance Shri. Pranab Mukherjee

Dear Sir, Reg : Grievances of Bank Retires The All India Bank Retirees Federation and United Forum of Bank Retirees Organisation have been representing to the Government and Indian Banks Association to redress some of their genuine grievances and demands but with no effect so far. You are well aware that the Pension Scheme evolved and introduced in the Banks is exactly on the lines of Central Government Pension Scheme and hence some of the improvements that have been incorporated in the Government Pension Scheme consequent to the 6 Pay Commission need to be extended to the bank retirees also. The recent extension of one more option to join the Pension Scheme has brought great relief to number of retired employees and officers who are today covered by the Pension Scheme and we are thankful to the Government for the same. But the following issues of the bank retirees deserve the special attention of the Government and your sympathetic consideration. 1. For the Government employees, on occasions of salary revision, pension revision is also given and accordingly their pension is updated. But in the case of bank retirees, the Pension remains static as sanctioned at the time of their retirement and does not undergo any change thereafter. The periodical updation of pension along with salary revision of in-service employees is very genuine and fair expectation, especially when the same is available to the Government employees. 2. Since their pension is fixed based on their pay at the time of their retirement, there are currently 5 different price index (600, 1148, 1684, 2288 & 2836) on which DA is paid to the retirees depending upon their period of retirement i.e. 11-86 to 31-10-92, 1-11-92 to 31-3-98, 1-4-98 to 31-10-2002, 1-11-2002 to 31-10-2007 and from 1-11-2007 onwards. Their pension needs to be adjusted and upgraded to a common price index by merging the DA upto that level . This will bring in uniformity of indexing the Pension of the retirees. 3. In payment of DA, after introduction of 100% neutralization against price rise from 1.112002, those who have retired after this date are being given 100% neutralization for price rise while the past retirees continue to be paid DA on a tapering basis with 4 slab formula of the earlier system. There is a genuine need to extend
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100% DA neutralization to all the retirees atleast from a prospective date. 4. While the in-service employees get DA variation on quarterly basis, for retirees, DA on Pension is paid on half yearly basis. This needs to be changed to quarterly basis for retirees also. 5. Under the 6 Pay Commission Report, there are improvements in the rate of pension for very aged senior citizens, in the commutation of pension, eligibility service to get full pension, etc for the Government pensioners and these need to be extended to the bank retirees too. 6. It is also experienced that the quantum of Family Pension is very inadequate and this requires a sympathetic approach from the Government to revise the same suitably. 7. Since the Pension Scheme was introduced in the Banks from 1.1.1986, the pre-1986 retirees are being given a Ex Gratia of Rs.300 per month + DA and their widows are being paid a fixed lumpsum Ex Gratia of Rs.1000 per month. These pre-1986 retirees are aged 85 years and above and are very few in number, may be around 6000 persons in the entire banking sector. Considering their age, ill-health, etc. the Government should kindly increase the Ex Gratia amount. 8. There are number of grievances of the retirees at the Bank Level regarding delay in sanction of Pension, delay in disbursements, etc. and hence Government / IBA should give proper guidelines to all Banks to put in place a regulated mechanism to redress these grievances. This will help in avoiding / reducing litigations, etc. on the part of the retirees. 9. Government has already advised the Banks to set apart a portion of the amount allocated for Staff Welfare from the Net Profit of the Banks towards ospitaliz the retirees. Still it is not being implemented properly. Hence Government may consider advising the Banks to set apart an uniform percentage of funds from out of the profits towards Welfare Schemes for the retirees. 10. The in-service employees are entitled to reimbursement of medical expenses on occasions of ospitalization but after retirement, the retirees are not covered by such facilities. In the context of ever increasing cost of medical treatment, retirees become extremely vulnerable when they fall ill and hence some uniform medical expenses reimbursement scheme needs to be made available to them. These are some of the important grievances and demands of the bank retirees. We request you to take a positive view of their grievances and advise necessary steps to be taken by the Government / IBA in this regard. Thanking you, Yours faithfully, C.H.VENKATACHALAM GENERAL SECRETARY
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Tamil Nadu Bank Retirees Federation Formed An adhoc committee of Tamilnadu Bank Retirees Federation, 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, General Secretary 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, ViceP r e s i d e n t A I B R F a n d G e n e ra l S e c r e t a r y 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 foundation conference, 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 2607-11. The conventions were marked by 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. AIBRF Central Committee meets AIBRF 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

The Central Government has exempted individuals whose total income for the relevant assessment year does not exceed five lakhs of Rupees and consists of only income chargeable to income tax under the heads salaries/other sources from the requirement of furnishing a return of income under sub-section (1) of section 139 of Income tax Act for the Assessment year 2011-12 vide Notification No. 36/2011 [F. NO. 142/09/2011 (TPL)], Dt 23-6-2011.

Sri.G.Ravindra Kumar Gandhi takes over as General Manager (Personnel)

Sri.G.Ravindra Kumar Gandhi has taken over as General Manager(Personnel) from 6 April 2011. With his abundant love for fellow IOBians and respect and affection for retirees, Mr.Gandhi has come to the right place. We are happy to welcome him to the new assignment We wish him success in all his endeavours
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IOB crosses business mix of Rs 2,50,000 crores

We are thrilled to know that our bank has crossed business mix of Rs2,50,000/- crores this year ending 31-03-11 and Rs.2,70,000/- for the quarte ending30-06-11. The credit for this spectacular achievement goes to Sri.M.Narendra, Chairman and Managing Director for infusing the team spirit in the IOBians and leading them past this goal post of glory. We extend our greetings to Sri.M.Narendra, and all the members of the IOB family

IOBs hat trick plus

History has been created in IOB One of our long cherished desires has come true. In the recent interview to select persons to be posted as Executive Directors in Public sector Banks, three of our General Managers, i.e Sri.M.S.Raghavan, Sri.S.Chandrasekaran ( who was GM Personnel till recently) and Sri.Satyanarayan Misra have been short listed for selection and posting as Executive Directors in various banks. All the three have enough years of service to move up and get posted as Chairman and Managing Directors This historic achievement has become possible due to the guidance provided and relentless work put in by our Chairman and Managing Director Sri.M.Narendra. We Congratulate him on this achievement We Congratulate the trio Sri.M.S.Raghavan, Sri.S.Chandrasekaran and Sri.Satyanarayan Misra and wish them all success. Friends! You have made us proud. We appeal to you to be sympathetic to the cause of retirees in the banks where you will be serving. We are also elated to know that Smt.Nupur Mitra has been elevated to head Dena bank as the Chairman and Managing Director and will be joining the bank very soon. We congratulate her on this well deserved elevation

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Bank Pass Book

It was the wedding of Priya and Hitesh. At the end of the wedding party, Piyas mother gave her a newly opened bank saving passbook With Rs.1000 deposit amount. Mother: Priya, take this passbook. Keep it as a record of your marriage life. When theres something happy and memorable happened in your new life, put some money in. Write down what its about next to the line. The more memorable the event is, the more money you can put in. Ive done the first one for you today. Do the others with Hitesh. When you look back after years, you can know how much happiness youve had. Priya shared this with Hitesh when getting home. They both thought it was a great idea and were anxious to know 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 marriage 616. 1 Mar: Rs.300, salary raise for Priya 617. 20 Mar: Rs.200, vacation trip to Bali 618. 15 Apr: Rs.2000, Priya got pregnant 619. 1 Jun: Rs.1000, Hitesh got promoted .... and so on... However, after years, they started fighting and arguing for trivial things. They didnt talk much. They regretted that they had married the most nasty people in the world.... no more love... One day Priya talked to her Mother: Mom, we cant stand it anymore. We agree to divorce. I cant imagine how I decided to marry this guy!!! Mother: Sure, girl, thats no big deal. Just do whatever you want if you really cant stand it. But before that, do one thing first. Remember the saving passbook I gave you on your wedding day? Take out all money and spend it first. You shouldnt keep any record of such a poor marriage. Priya thought it was true. So she went to the bank, waiting at the queue and planning to cancel the account. While she was waiting, she took a look at the passbook record. She looked, and looked, and looked. Then the memory of all the previous joy and happiness just came up her mind. Her eyes were then filled with tears. She left and went home. When she was at home, she handed the passbook to Hitesh, asked him to spend the money before getting divorce. The next day, Hitesh gave the passbook back to Priya. She found a new deposit of Rs.5000. And a line next to the record: This is the day I noticed how much Ive loved you thru out all these years. How much happiness youve brought me. They hugged and cried.

PERSONAL
Our member Smt. Sudha Santhosh Kumar celebrated the marriage of her daughter Sow. Nanditha Santosh with Chi. Aumbarish V. Athreya in Chennai on 24-01-11 Our member Sri.P.Cheenu Mohan celebrated the marriage of his daughter Selvi. M. Meenakshi with Selvan. M. Karthik in Kothamangalam on 07-02-11 Our Member Sri. S. Ramaswamy celebrated Chi. R. Lakshmi the marriage of his son Narasimhan@Mohan with Sow. Sukanya in Coimbatore on 16-02-2011 Our Member Sri. R. Murugan celebrated the marriage of his daughter Sow. M Aishwarya with Chi. K. Arunkumar in Chennai on 23-0211 Sri. S. Balachandran Our Member celebrated the marriage of his son Chi. Venkatesh@Kannan with Sow. Jyotsna in Bangalore on 21-03-11 Our Member Sri. Gokul Chandra Das celebrated the marriage of his daughter Sow. Manisha Das with Chi. Palash Kole in Kolkata on 07-03-11 Our member Smt. Syamala Viswanathan celebrated the marriage of her daughter Sow. Vaishnavi with Chi. Vanjinathan@Karthik in Chennai on 23-02-11 Our member Sri. S.Kannappan celebrated the marriage of his son Chi. K.Ganesh with Sow. Gayathri in Chennai on 21-03-11 Our member Mr. Salahudeeen, celebrated the marriage of his daughter Thaiyuba Nilofer with Hassan Mohideen in Eruvadi on 8 May 2011 Sri. P. Andiyappan, our member celebrated the marriage of his son Dr. A. Arun Prasath with Dr. R. Madhuvanthi on 22-05-11 at Trichy Sri. V.R. Balasubramanian, our member celebrated the marriage of his daughter Sow.Priya with Chi.S.Praveen on 15-05-11 at Chennai Sri.Seshadri, formerly of West Mambalam branch and VRS 2000 retiree, celebrated his Shashtiabdapoorthi on 9 June 2011 in Chennai Sri. R. Masilamani, our member celebrated the marriage of his son Chi. M. Srinivas with Sow R.Sasikala in Chennai on 29-06-11 Our member Sri. N. Lakshmanan celebrated the marriage of his grandson Selvan Chellappan with Selvi. Mangaiyarkkarasi@Nithya on 10-07-11 at Devakottai Our member Sri. N.V. Subramanian celebrated the marriage of his son Chi. Dr. N.S. Vishwanath with Sow. N.V. Vidhya on 3 July 11 at Palakkad We greet all concerned on this happy occasion
th th rd

19

D.R Payable from August 2011 to January 2012

We are pleased to inform you that there has been an increase of 27 slabs of Dearness Relief payable from February 2011 to July 2011 pensioners, family pensioners and ex-gratia pensioners. The details are: Retired on or after 01 01 86 but before 01 11 92 / 01 07 93 Over CPI 600 Slabs 919 Basic Pension Upto Rs. 1250 Rs.1251 Rs.2000 Amount 615.73% Rs.7696.62 Plus 505.45% in excess of Rs.1250/Rs.11487.49 Plus 303.27% in excess of Rs.2000.00 Rs.11881.74 Plus 156.23% in excess of Rs.2130/Retired on or after 01 11 92 / 01 07 93 but Before 31 03 98 Over CPI 1148 Slabs 782 Basic Pension Upto Rs. 2400 Rs.2401 Rs.3850 Amount 273.70% Rs.6568.80 Plus 226.78% in excess of Rs.2400/Rs.9857.11 Plus 132.94% in excess of Rs.3850/Rs.10189.46 Plus 70.38% in excess of Rs.4100/Retired on or after 01 04 98 but before31 10 2002 Over CPI 1684 Slabs 648 Basic Pension Upto Rs. 3550 Rs.3551Rs.5650 Amount 155.52% Rs.5520.96 Plus 129.60% in excess of Rs.3550/Rs.8242.56 Plus 77.76% in excess of Rs.5650/Rs.8522.49 Plus 38.88% in excess of Rs.6010/-

Rs.2001 Rs.2130

Rs.3851 Rs.4100

Rs.5651Rs.6010

Above Rs.2130

Above Rs.4100

Above Rs.6010

Retired on or after 01-11-2002 but before 1-11-2007 Over CPI 2288 Slabs 497
Rate of Dearness Relief 89.46 % of entire Basic Pension

Retired on or after 01 11 2007 Over CPI 2836 Slabs 360

Rate of Dearness Relief 54% of entire Basic 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

OBITUARY
Sri.R.V.Srinivasan, former E.C.member of IOBRA expired on05-06-2011 at Kovilpatti Sri.B.Ramaswamy Iyer our member expired in Nagercoil on25-01-11 S.N.Soni, Retired Executive Director of our bank died in Lucknow on 22-02-11 Sri.Sridhar our member expired in Chennai on1503-11 Sri.Lalit Mohan Paul , our member expired in Kolkata on25-04-11 Sri.M.C.Mahadevan, former Deputy General Manager, expired in Chennai on 30-04-11 Sri.S.Packiriswamy our member expired on 0905-11 at Chennai Sri.S.S.Sundaram our member expired in Chennai on 02-07-11 K. Renganathan, VRS Retiree IOB, expired in Chennai R.G. Ramani, Retd. Officer IOB, expired in Chennai Sri.P.Balakrishnan our member expired in Trichy on 27-06-11 Sri.P.Vellingiri, our active member expired In coimbatore on 19 July 2011
th

We pay our homage to the departed souls and offer our heartfelt condolences to the bereaved family members.

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LEGAL CORNER
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. Historic Judgment by Madras High Court: Good news for members retired between 01-04-1998 and 2002 including VRS 2000 retirees Regulation 35 (2) 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 Pay for the purpose of Pension 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 014-98and future retirees has been given prospective effect from 1-5-05. As it is only a correction of an 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. 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 Madras High 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 judgment on the other cases too. We Congratulate Com. C.R C for obtaining this path breaking Judgment Excerpts from the judgment are published here below
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 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 Judge dated8.8.2007 made in W.P.No.8945 of 2001. *** For appellants : Mr.AL.Somayaji, Senior Counsel for Mr.C.R.Chandrasekaran : Mr.A.P.S.Kasturi Rangan for M/s.Sampathkumar and Associates ... Appellants

For R.1 & R.2

***

21

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 of pension 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) Pension Regulations, 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 revision for officers in Public Sector Banks, a salary revision was proposed and accepted. 5. Pay scales were revised from 1.4.1998 by the first respondent Bank and by the time they were implemented, according to the appellants, they had retired and hence they have been paid after their retirement, the arrears of wages consequent upon the revision. In this Joint Note, clause 6 defined pension as: Pay for the purpose of pension shall be the aggregate of pre-revised pay and Dearness Allowance thereon at CPI (consumer price index) 1616 points. According to the appellants, this clause has resulted in payment of reduced amount of pension to them since the respondents 1 and 2 have not taken the last ten months enhanced salary for calculating the pension, but only the earlier unenhanced salary, citing the Joint Note. This, according to the appellants, is illegal and hence they have filed the present writ proceedings, the prayer of which has been subsequently amended, as stated above. 6. Since the learned single Judge has dismissed their plea, the appellants have come forward to prefer this appeal.

8.

The learned senior counsel appearing for the appellants would argue that once the pay revision has been effected, the respondents should take into consideration the last ten months salary to count the pension of the employees and the impugned amendment brought in by the respondents whereby pay was defined only for the purpose of payment of reduced pension to the appellants, contrary to the pension regulations when they retired, as compared to payment of provident fund based on the revised pay from 1.4.1998, is illegal. Referring the act of the respondents an illegal one and need to be interfered with by this Court, the learned senior counsel would rely on a Three Judge Bench judgment of the Honourable Apex Court in SALABUDDIN MOHAMED YUNUS vs. STATE OF ANDHRA PRADESH [1984 LAB I.C. 1738]. In this case, a Government servant in the State of Hyderabad, who was governed by Rule 4 and 299(1)(b) of the Hyderabad Civil Service Rules and was entitled to receive pension of Rs.1,000/=, was retired before 1.11.1956 i.e. the date of reorganisation of States. But, by the subsequent amendment brought in, his pension was brought down to Rs.857.15 with retrospective effect by notification dated 3.2.1971. In these circumstances, the Honourable Apex Court has held the said action of reducing the pension as illegal as the right to receive pension flowed immediately on retirement and was property within meaning of Articles 19(1)(f) and 31(1) of the Constitution i.e. a fundamental right and could not be taken away either under Clause (5) of Article 19(1) and such deprivation was also not justified under Article 31(1) since the same could not be said to be for public purpose and no compensation was being paid to the public servant. 9. The learned senior counsel would also place reliance on a judgment of a Division Bench of Kerala High Court in SYNDICATE BANK AND OTHERS vs. CELINE THOMAS AND OTHERS [2006-II-LLJ 413]. In this case, the employer Bank denied to its employees who retired between November 1, 1992 and October 31, 1994, gratuity payable to them on the basis of revised pay granted after their retirement with retrospective effect, by invoking provision in a Memorandum of Understanding reached between Nationalised Banks and employees in June 1995. In these circumstances, the Division Bench of the Kerala High Court has held: ... the payment of gratuity is a statutory benefit. It had to be computed on the basis of monthly pay of an employee. Memorandum of Understanding could not meddle with statutory prescriptions. 22. The respondents have relied on the judgments to the effect that they have the power to prescribe a cut-off date and that the settlements entered into between the workers unions and the Management by virtue of collective bargaining cannot be thrown out simply. We have no quarrel with this well established principle of law. But, in the case on hand, it is not that

22

23.

24.

25.

26.

unbridled power of the respondents, that is in dispute, but the challenge is to the way in which an unusual meaning has been sought to be introduced by the respondents, quite against the very purport of the Pension Regulations. It is the strong case of the appellants that because of this unusual amendment brought into the Regulations by the respondents, they have been put to a loss of pension ranging from Rs.565/= to Rs.1380/= p.m. and commutation ranging from Rs.22,250/= to Rs.62,160/=. This contention of the appellants was attempted to the pooh-poohed by the respondents on the ground that the Joint Note pertain only to the salary and not to the pension and that the appellants having accepted the pay revision and also received the arrears, cannot now turn around and say that they be given both the benefits, quite against the Joint Note. At this juncture, the legal question that would fall for consideration is whether a settlement entered into by the Unions, contrary to the Regulations, would be legal? As has already been observed by us supra, in the case on hand, though the Joint Note talks about the pension, there is no mention therein about the Regulations 2(d) and 35(2). Therefore, it goes without saying that the average emoluments for the purpose of counting the pension remained as the pay drawn by an employee during the last ten months of his service in the Bank and that the basic pension shall be calculated at fifty per cent of the average emoluments. In the absence of any amendment to these Regulations, the attempt made on the part of respondents, curtailing this benefit to the appellants and such other similarly standing persons, by introducing the impugned It would have been a amendment is illegal. completely different thing, had the Joint Note agreed for all corresponding amendments, including the definitions for Regulations 2(d) and 35(2), which is not the case herein. Therefore, without any hesitation we can say that the impugned amendment brought in by the respondents 1 and 2, quite against the Regulations 2(d) and 35 (2) and the very intent and purport of the Regulations is null and void. Probably realising this, this mistake has now been cured by the respondents in the settlement arrived at by them with the representative Unions/Associations on 2.6.2005, wherein it has been agreed between the

parties that in respect of retirees, retiring on or after 1.5.2005, average emoluments as defined in Pension Regulations for the purpose of pension, be calculated with reference to the pay drawn during the last ten months of service of the employees service in the Bank. While this being the position, we have no hesitation to hold that there is complete justification in the prayer of the appellants, since the respondents 1 and 2 have tried to make an illegal differentiation between salary and pension, further ignoring to honour the Regulations 2(d) and 35(2). It is also to be held that the receipt of the arrears of pay by the appellants cannot, in any way, stand in their way of challenging the impugned action of the respondents 1 and 2, since being contrary to the very purport and intention of the Regulations. 27. The learned single Judge has not gone into this aspect of the case, but, has proceeded to dissect the case keeping in view the unassailable fact that the respondents are having power to amend the Regulations, by due process of law. 28. The other argument advanced on the part of the respondents 1 and 2 that the writ proceedings are liable to be dismissed on account of laches also cannot be accepted, since there is no undue delay. To explain, the Joint Note on conclusions of discussions between IBA and Officers Associations is dated 14.12.1999 and the present writ proceedings have been initiated on 23.4.2001. For all the above reasons, this Writ Appeal is allowed, setting aside the order of the learned single Judge. The respondents 1 and 2 are directed to calculate and pay the difference of monetary benefits to the appellants within twelve weeks from from the date of receipt of a copy of this judgment. But, the prayer of the appellants 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, cannot be ordered and the same stands rejected. No costs. Rao

To The Secretary to the Union of India, Banking Division, Ministry of Finance, New Delhi 110001

Deposit Mobilisation Campaign

We are glad to inform you that our appeal in the last issue of The Veteran launching our Deposit Mobilisation Campaign has received overwhelming response from our members. Sri.Shiba Prasad Das PPO No 3696 has canvassed Fixed Deposits to the tune of Rs.50.00 lacs for our Salt Lake Branch Sri.Arabinda Ghosal Chowdhury PPO No 7875

has canvassed three deposits totaling to Rs25.00 lakhs for our Sreemani Market Branch. Sri.B.Ramji, our General Secretary has canvassed 2 RDPs totaling to Rs3.50 lacs to our MCC Campus Branch Mr.V.R.Krishna Moorthy Canvassed deposits totallingto Rs.4.00 lacs(2.00 lacs each to Kanjikode and Palakkad Branches and Recurring Deposit accts with Monthly instalments of Rs20,000/- to Palakkad

23

SPL INVITATION FOR RETIREES & PENSIONERS

AN OPPORTUNITY TO ASSOCIATE YOURSELF WITH TATAAIG LIFE AND START A SECOND INNINGS WITH THE MOST TRUSTED CORPORATE BRAND IN INDIA J J J J J FLEXIBLE WORK HOURS INTERNATIONAL CONVENTIONS EARN REWARDS & RECOGNITIONS BECOME A FINANCIAL EXPERT FREE INFRASTRUCTURE & WORK SPACE AT MOUNT ROAD
PLEASE CALL :

K RENUKA
BUSINESS ASSOCIATE CELL : 9840248402

Book - Post

To,

If Undelivered please Return to:

Dr. B. RAMJI, General Secretary,

I.O.B. Retirees` Association, No. 2, First Cross Street, Jaya Nagar, Tambaram Sanatorium, Chennai - 600 047. Ph. No. : 044-22418692, Mobile : 9444013417. E-mail : bramji02@yahoo.com Website : www.iobveterans.com