The Sudden hype .........Latest Statement on Bank Employees by FM............GNS observes.

 The sudden hype now generated by the reported latest statement on Bank Employees by the FM is understandable.Perhaps we LIC pensioners are more excited than Bank pensioners ! My consistent stand (that instead of depending on  court cases and waxing eloquence on legal issues we should save our energy by waiting for something  to happen for bank pensioners), seems to stand vindicated.

        It appears to be the speciality of LIC management not to follow even the banks on implementation  of court judgements.I would like to refer in this connection to the case of 92-93 retirees.It is good that shri D Krishnan has made a reference in one of his recent circulars to the meeting he had with Mr.MR Kumar chairman at Ernakulam when he pressed for implementation of the judgement in MC Jains case. The same Mr Kumar had assured me also a number of times as Director (per)when I was the GS that the issue will be settled favourably. In this context I deem it necessary 

to narrate briefly a parallel episode relating to the banking sector. 

           A small group pensioners of Bank of Baroda (who had been recruited as technical officers by waiving the minimum age requirement)had sought my guidance in 2015 for pursuing legal action on an issue pertaining to grant of weightage under Rule 26 otheir pension Rules (exactly identical to Rule 27 of LIC pension Rules) for computing the qualifying period while determining eligibility to get full pension.The issue had earlier been taken to Madras HC (V Vijayan& others) and to Allahabad HC ( AP Saxena& others).A single judge of Madras HC passed a favourable judgement but it was reversed by a division bench. Allahabad HC also passed a judgement favourable to the petitioners.Both m/s Vijayan &ors and the bank/ GOI filed SLPs in SC and they were clubbed.SLPs were converted into regular civil appeals viz CA 9371/2017 and CA 9370/ 2017 

             By a common order dated 20/7/2017 the SC squarely upheld the orders of the single judge of Madras HC and of the Allahabad HC. The concerned petitioners before both the HCs got their pensions refixed and merrily got huge arrears.

             After sometime the matter was reviewed by the Govt (DFS) and the IBA issued a circular dt 1/2/2018 to all the banks instructing them to extend the benefit of the aforesaid SC judgement to ALL SIMILARLY PLACED pensioners  of their organizations. Thousands of pensioners of Banks got benefitted

LIC could have easily decided on a similar action for the application of MC jain judgement to all 92'93 people but we are still before courts over the issue involved.

              The point that arises is whether Mr Kumar & co in LIC will force the issue  at least on an anological basis with GOI in regard to the 92-93 matter.They will not !!   ( It is another matter that VAST majority of 92 retirees have already left this world)

               The moral therefore  is that while we may be happy at the prospects for banking sector as a favourable indication for us in the present circumstance the LIC management should also be made to rise to the occasion.Will all the 4+1 organisations of LIC pensioners take necessary steps?

May God bless all the pensioners!!

GN Sridharan