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Media Brief by RBI Governor Shri Urjit Patel & Secy. DEA Shri Shaktikant...

Pension matters.

Pension matters One view based on long experience is that nothing dramatic may happen, through judiciary or otherwise, on our pending genuine problems unless and until parallel situations affecting Bank pensioners are finally dealt with by IBA/GOI, .one way or the other. We are therefore naturally keeping in touch with friends in the banking sector who are fighting for justice to their pensioners. The one identical problem is the denial of 100% neutralization on DR, the only difference being the date on which the discrimination arose.  Also, the issue affecting the pensioners of SBI alone calls for our close watch. In SBI those who retired after the seventh bipartite settlement was effected still receive their pensions based on the earlier 6th bipartite settlement. This is something similar to the case of retired of the period 1/8/92 to 1/4/93 for whom the judiciary has already handed down a verdict favourable to the pensioners in MC Jain's case. The writ petitions bot

GNS writes

Dear shri Sury,  I complement you for posting a copy of GOI's letter to Bank managements reminding them to hasten negotia tions for wage revision effective from 1 /  111111 .11.2017  It augers well as I have repeatedly expressed that any worthwhile progress on our(LIC) issues will happen only if things move forward for banks, be it  revision for serving employees or problems of pensioners.  So far as bank pensioners are concerned the litigations on various issues would appear to drag on till end of Jan 2017.  One of their matters viz problem of refixation of pension to a group of SBI pensioners (similar to our 92 -93 retirees) is reportedly coming up in the Delhi HC on 8/11before the same bench hearing our cases and the issue of 100% neutralisation for pre 11/2002 retirees of, banks on 17/1/2017before the SC.  We have to keep a watch on what happens to pensioners of banks and wish speedy disposals in the banking sector!!  -GNSridharan