SHRI KRISHNA JANMASHTMI GREETINGS
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Saturday, 24 August 2019

MEETING WITH MOS ON 22-8-19 WHAT MATERIAL WAS PROVIDED TO MOS

They say curiosity kills the cat.I feel there is no need to make an incisive analysis into the meeting with the MoS of Finance by some leaders of the Pensioners' organizations.You may have number of questions arising in your mind on what were the materials with our leaders and what they have conveyed to the Minister and what they should have conveyed etc.But what is important is that someone has taken the initiative through his good contacts to arrange a meeting with the Minister and succeeded in getting an audience where the Hon'ble MoF could give a patient hearing for 25 minutes to the delegation also reading the memorandum submitted without showing any haste.There have been detailed reports from three credible sources.It is very clear from the reports that good amount of preparation has gone into the exercise that preceded the meeting.One cannot expect answers to all the doubts that arise in his mind about the meeting but has to accept that a good breakthrough has been achieved in the face of a stalemate that has been persisting in our legal case before the Supreme Court.The leaders have shared with the fraternity of pensioners whatever is reasonably expected of them after such a meeting.An initiative has been taken and executed instead of sitting with fingers crossed.
So let us now await a favourable outcome in the period ahead.
Kind regards.
C H Mahadevan

Corruption Is A Disease; Bombay HC Directs Registration Of FIR Against Ajit Pawar And Other Politicians In Co-operative Bank Scam [Read Judgment]

Corruption Is A Disease; Bombay HC Directs Registration Of FIR Against Ajit Pawar And Other Politicians In Co-operative Bank Scam [Read Judgment]: The Bombay High Court on Thursday directed the Economic Offences Wing to register a FIR against former Deputy Chief Minister of Maharashtra Ajit Pawar and other state politicians for their alleged...

UAE honours PM Modi with highest civilian award 'Order of Zayed'


UAE honours PM Modi with highest civilian award 'Order of Zayed'



Prime Minister Narendra Modi. Reuters
Abu Dhabi, August 24
Prime Minister Narendra Modi was honoured with the ‘Order of Zayed’, the UAE’s highest civilian award, on Saturday as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
The award has earlier been bestowed on several world leaders, including Russian President Vladimir Putin, Queen Elizabeth II and Chinese President Xi Jinping.
“The award in the name of Sheikh Zayed bin Sultan Al Nahyan, the founding father of the UAE, acquires special significance as it was awarded to Prime Minister Modi in the year of the birth centenary of Sheikh Zayed,” Ministry of External Affairs (MEA) said in a statement ahead of his visit.
India and the UAE enjoy warm, close and multi-faceted relations underpinned by cultural, religious and economic linkages which, during the prime minister’s previous visit to the UAE in August 2015, stood elevated to a comprehensive strategic partnership, it said.
The UAE in April had announced to confer the country’s highest award on Modi.

In a tweet in April, the Crown Prince of Abu Dhabi, Mohamed bin Zayed Al Nahyan, said, “We have historical and comprehensive strategic ties with India, reinforced by the pivotal role of my dear friend, Prime Minister Narendra Modi, who gave these relations a big boost.”  

With an annual bilateral trade of about USD 60 billion, the UAE is India’s third-largest trade partner. It is also the fourth-largest exporter of crude oil for India.
“A 3.3 million-strong vibrant Indian community in the UAE nourishes the vibrant people-to-people contacts between our two friendly countries,” the MEA said, adding that Modi’s visit would further strengthen the friendly bilateral ties. PTI



MEETING WITH MOS FINANCE ON 22.08.2019

GOOD MORNING, SAHNIJI. MUST APPRECIATE YOUR CONSISTENCY AND TENACITY OF YOUR VERY SINCERE EFFORTS IN MAKING THIS  FEASABLE. I FURTHER, AND RATHER SELFISHLY, LIKE ALL MY RETIRED BROTHERS, VERY ANXIOUSLY WAIT FOR THE POSITIVE RESULTS OF THE SUCCESS OF THIS DRIVE.
GOD BLESS ALL OF US WITH SUCCESS, HAPPINESS AND POSITIVITY, TO WIN OUR CASE.
ONCE AGAIN A BIG THANK YOU TO ALL WHO HAVE MADE THIS HAPPEN.
J K DAR 

Senior Advocate And Former Law Minister Arun Jaitley Passes Away

Senior Advocate And Former Law Minister Arun Jaitley Passes Away: Senior Advocate and former Union Law Minister Arun Jaitley, 66, passed away. He was undergoing treatment at AIIMS New Delhi since August 9.A press release by AIIMS declared that he breathed his last...

Subject: MEETING WITH MOS ON 22-8-19 WHAT MATERIAL WAS PROVIDED

               Dear  friends                                                                                          24-8-19

                                        I read text of the memorandum  dt 20-8-19 to MOS  and  also  reports from sri D Krishnan .  In my opinion   The  reports  do not indicate  that any statistical data  was  enclosed 
to the memorandum. Had some   brief  been  sent to the  MOS in advance, he would have  seen that somebody from Dept of Financial services  , may be  Director/Jt Director/ Dy Secretary/Under secretary  would have   been  present. . Then the meeting  would have been  more  fruitful.
During  Discussion  why  the Delegation did not  mention about  the  approval of   Updation  to the retirees  from RBI. Did the delegation anticipate any resistence from  MOS. I think  enough  base 
was not  provided to the MOS  to act. Simply  a bare  memorandum  I not the anwer. Had  some officials  from DFS  been present,  the delegation  would have  initiated the MOS   for  more 
understanding  on  the subject . 
I find that  Sri Ch Mahadevan ,  generated lot of data  on accumulated loss. Where it is going to be utilized .
I  refer to sri  GNSridharans  post. It is clear that  his Fedn  is thinking  that  the prolonged legal  battle in SC  may not  bring  the desired  result.  Because there is total uncertainity on the listing of SLPs and  hearing . 
FOLLOW UP ACTION ; WHO  WILL  FOLLOW UP  WITH MOS - 
JALLANDAR =CHANDIGARH
HYDERABAD OR CHENNAI . WHAT HAPPENED AFTER 24-7-2019 . ANY  INFORMATION.
WHAT I  FEEL IS  LET  SOMEBODY  STATIONED  AT NEW DELHI   MAY HAVE TO  TAKE THE RESPONSIBILITY  OF  FOLLOW UP.
Thanking u 
y/s  
cs murty       

President of India’s greetings on the eve of Janmashtami

President's Secretariat

President of India's greetings on the eve of Janmashtami

Posted On: 23 AUG 2019 5:40PM by PIB Delhi

The President of India, Shri Ram Nath Kovind in his message on the eve of Janmashtami has said :-

"On the joyous occasion of Janmashtami, I convey my warm greetings and best wishes to all my fellow citizens in India and abroad.

Yogeshwar Krishna embodied righteousness against evil and devotion to truthfulness. He taught us to focus on 'Nishkam Karma' i.e. responsibility rather than reward. Janmashtami is a day to commit ourselves to the life and teachings of Shree Krishna.

Let us resolve to imbibe these timeless and universal values and follow them for the betterment of our lives and the world".

 

Click here for Hindi message

*****

 

VRRK/VJ/SBP



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[Ayodhya Hearing] [Day 11] : 'Claim Of Devotee Cannot Be Adverse To Deity', SC Tells Nirmohi Akhara

[Ayodhya Hearing] [Day 11] : 'Claim Of Devotee Cannot Be Adverse To Deity', SC Tells Nirmohi Akhara: The day 11 of Ayodhya hearing witnessed an curious turn with the Hindu body 'Nirmohi Akhara', which claims to be manager of the deity's property, taking a stance against the suit filed on behalf of...

Meeting with MOS Finance

Meeting with MoS 
It was thought necessary to take up our pension related grievances, particularly updation of pension with wage revision, with the Central Government for early redressal, through an effective linkage so that our issues are heard and appreciated by Hon'ble Minister (Finance). Shri S N Chhabra, Chandigarh endeavored and found the desired linkage through Shri A L Dhavan, an octogenarian and very popular retired Sr Divisional Manager, who arranged for the meeting with Shri Anurag Thakur, Hon'ble Minister of State (Finance). Shri T C Chopra, who is also an octogenarian and equally popular activist, well acquainted with the family of Hon'ble MoS, also contributed his best for the fruitful meeting.     We reached New Delhi on 21st August 2019 and discussed the issues to be presented before the MoS. It was decided that Shri A L Dhavan Sahab would introduce the members of delegation. Shri N P Bali Sahab would be initiating the discussions on the issues viz. Pension Revision, Family Pension and Increased Pension on attaining age of 80 years and after every five years on the pattern of CCS Pensioners.  Shri M P Agnihotri would be supporting Shri Bali on rules and data related issues, if needed. Other members in the delegation will also supplement wherever necessary. It was also decided that if time permits, some other issues would also be taken up. Shri C H Mahadevan was in constant touch with the delegates through email/WhatsApp and provided rich in puts. On 22.08.2019, the delegation consisting of S/S A L Dhavan (Jalandhar), N P Bali (Mumbai), S N Chhabra (Pacnchkula), M P Agnihotri (Hyderabad) and T C Chopra (Chandigarh) met the Hon'ble MoS. The details of meeting are already informed by Shri Bali Sahab to Shri D Krishnan, Shri G Krishnaswamy and others and also circulated by respective leaders. In addition to what is already circulated, I would like to share that on 21/8/2019, we not only discussed our points but also the expected questions and appropriate answers to such questions. When Shri Bali Sahab presented the issue of pension updation with wage revision, he invited attention of Hon'ble Minister towards the board resolution dated 24/11/2001 whereby LIC Board recommended removal of DR disparity by revising pension corresponding to then existing revised pay scales (as on 1/8/1997) on the lines the Central Government allowed to its employees, as the LIC Pension Rules are modelled from CCS Pension Rules; Hon'ble Minister wanted to know why it was not approved. We submitted that the Central Government has not conveyed its decision so we are not aware as to why the approval of board resolution was not conveyed. However, it is understood that objections are on financial constraints, ripple effect and scheme is a funded scheme. We explained that the overall expense ratio of LIC has been showing a decreasing trend –in sixties, it was 25 to 27 percent whereas for last 10 years it is between 12 to 14 percent only. The global standard is 25%, thus the overall expenses of Corporation are well within control. Any other calculations on this regard may be a projection on certain assumptions, which does not reflect the correct position. We also informed that Service Rules including Pension Rules of LIC employees are enacted by the Central Government whereas in case of other PSUs, their service / pension rules are enacted by their boards on the basis of agreement, as a package deal, reached between the employees' unions and management. On the issue of funded scheme, we informed that pension is main retirement benefit to LIC employees as is in case of CCS employees also. Accounting procedure may be as per the practices of the employer but statutory liability is the same. LIC's pension scheme should not be confused with contributory restricted fund scheme, which is altogether different. While highlighting the discrimination in payment of pension, we informed that employees retired before 1992 get one third or even less than the pension being received by similarly placed employees retired after 1/8/2012. Each wage revision creates discrimination, which gets widened with further wage revisions. When we pointed out that LIC pension Rules contain a residuary rule providing for those benefits which are paid to CCS 

employees but are not provided in LIC pension rules, Hon'ble Minister wanted to know what are such benefits and then we informed that benefit of pension revision falls in that category.  With regard to Family Pensioners, it was informed that their condition is pathetic as they get only 15% of the last drawn basic pay of the employee. For CCS employees and RBI employees Family Pension is increased to 30% of last pay drawn by the employee.  We informed that LIC is the organization which is hundred percent owned by the Central Government. It is the organization which provides substantive funds for national development, its total annual income has always shown positive growth and its expenses have always been within control. We, the retired employees, enjoys the pride of bringing LIC to the stage where it is today.  Hon'ble Minister assured to look into the matter and do his best to resolve the issues. He instructed the Personal Secretary to put up LIC's Pension File before him in the evening. All the members participated in the discussions to supplement the points.  Our purpose of meeting Hon'ble Minister was to bring our grievances to the knowledge of decision making authority in the Government and clarify certain points where some misconception prevailed. We feel that we have been successful in conveying our stand. We have to follow up the matter and keep proper liaison to bring it to its logical end. Shri Bali Sahab is sending a 'thank you' letter to Hon'ble Minister for hearing us patiently and assuring for looking into the matter. Shri Dhavan Sahab will also communicate our gratitude to them who have made valuable contribution to arrange this meeting and also to extend their support till we get the desired results. Friends, I would like to share my personal feelings for those who conceptualize this idea, worked hard for making the meeting possible and brought together different persons for a meaningful talk with Hon'ble Minister-they are Shri S N Chhabra (87+), Shri A L Dhavan (86+), Shri T C Chopra (85+) and Shri N P Bali (80+). These enlightened, enthusiastic and super active, super senior citzens have shown us how things are done. In addition to managing the meeting, they travelled from far off places- Shri Dhavan from Jalandhar, Shri Chhabra and Shri Chopra from Chandigarh and Shri Bali from Mumbai. Staying at GH (Asif Ali Road) and visiting Hon'ble Minister's residence and North Block, at New Delhi by completing various formalities is a tedious job. They did it. They made it to happen. My salutes to them.     
With best wishes, 
M P Agnihotri. 
Hyderabad 
Mob No. 9425206918/9618315890   

Comparative Tables on Revised (New) OROP provided by O/o PCDA (P) to JS (ESW)

Comparative Tables on Revised (New) OROP provided by O/o PCDA (P) to JS (ESW)

Posted: 22 Aug 2019 08:29 PM PDT

Comparative Tables on Revised (New) OROP provided by O/o PCDA (P) to JS (ESW) Dear Readers, Firstly, you are requested to bear in mind that the contents of this post are reproduced from the RTI...

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THOUGHT FOR THE DAY FW ERI BOI FROM BRAHMA KUMARIS

Image may contain: text
Regards, E.R.Iyer

LET US MAKE EARTH PLASTIC FREE

MAKE EARTH PLASTIC FREE



ACCUMULATED LOSS ON NON UPGRADATION OF BASIC PENSION

DEAR ALL,
In the context of the scheme of upgradation of pension implemented by the RBI,I undertook an exercise to arrive at the accumulated loss in gross pension for the various generations of retirees in the cadres from Assistant to Executive Director and also for Development Officers even though the RBI scheme is prospective in nature.
For this purpose, I took the Basic Pension at the maximum of the scale in the various cadres for various periods and ignored commutation of pension and also the component of Fixed Personal Allowance.
The magnitude of losses is astronomical ranging from a minimum loss of  Rs 13.5 lks for a pre-August 1997 Assistant   to a maximum loss of Rs 60.3 lks  for a pre-April 1993 retiree- Executive Director.
With each month passing without upgradation of pension, the cumulative losses are mounting and already thousands of older generation pensioners have exited the  world during the .last 0ver 22 years without receiving justice.
Even the partial relief granted by Delhi High Court in its judgment to pre-August 1997 retirees  has not gone far to reduce the losses and the accumulated losses might have at the most been reduced by the arrears of DR received  on implementation of the judgment.The figures of cumulative losses have been worked out after taking into account the changes in DR rates as per the DHC judgment.
Considering that only about 3630 retirees have received DR arrears,the large number of over 12000  pensioners in the pre-August 1997 category have at least been lucky to escape recovery of the 40% interim relief paid pursuant to the Supreme Court order dated 31/3/2016,having not received DR arrears for the reason that their Basic Pension might have been less than 2130 or 3850 under Group 1 & Group 2 of retirees respectively.
Now we need to explore how well we can utilise this data of cumulative loss in the Supreme Court when the hearings resume .




Meeting with MOS(f)

        The reported meting of group of our friends with the MOS (FS) on 22nd inst is indeed a good move. I am firmly of the view that It is this kind of exercises that may ultimately deliver the goods for us.
          For LIC pensioners we have five representative organisations(Four at national level and one splinter group)There is also  an individual in the fray who claims to be independent.All of them are acting in such a manner that an average pensioner is led to believe that the remedy for all our ills particularly the elusive up gradation would come about only through the judiciary. As a result many have been assuming  the role of 'legal experts' oblivious of the reality, thanks to the blogs for providing a platform for showcasing their expertise .None seems to realise that the up gradation issue will not be decided in isolation for the LIC pensioners alone .It is only in this context I feel that the meeting on 22nd is a welcome move. 

            It is my personal opinion that we are bound to succeed ultimately in securing up gradation now that the wage revision exercise has been reopened for Bank employees following the finalisation of which the pensioners' issues are bound to be taken up. It is therefore necessary (again,in my personal view ) that it is time we follow the following: All public discources by leaders or individuals however knowledgeable they are , on the legal points for steering the pending case in the Supreme court is totally avoided. Secondly while LIC/Govt combine is bent on delaying the case and particularly when the constitution of a bench for hearing our case is is not in our hands we should feel happy to let the litigation to remain in animated suspension for at least a couple of months to come.After all we have already waited for over a decade!!

God save LIC pensioners!

-G N Sridharan.

Friday, 23 August 2019

Letter on women issues

Letter on women issues.pdf


My response to Shri C S MURTY Sir

In case Sh C S Murty Sir is not able to read copy of Memorandum submitted to Sh Anurag Thakur MOS Finance yesterday how does it affect him adversely
My submission is that we must have full trust in Our Leaders who are fighting from front for our issues 
Regards
B R Mehta

Rights and Limitations Of An Employee To Withdraw Resignation: SC Explains [Read Judgment]

Rights and Limitations Of An Employee To Withdraw Resignation: SC Explains [Read Judgment]: In Air India Express Limited vs. Capt. Gurdarshan Kaur Sandhu, the Supreme Court discussed the rights and limitations of an employee withdrawing the resignation tendered by her. Gurdarshan who...

Random thoughts

Sir,
Self and and wife are staying in a senior citizen Colony where we have everything  for asking.Have excellent company of retired bureaucrats,army personnel and other from all walks of lie.We have lively discussions on varied topics. This morning I asked a  Secretary of Central Govt,who retired about twenty years back as to" Can a minister do good bad or an ugly deed without the knowledge of bureaucracy.I did not get any firm answer,rather a diplomatic shrug of a civil servant, I told anecdotes from my experience having worked under two great men who rose to the Chairman's level. One threw the job as the then finance Secretary Kusumlata Mittal treated him as her subordinate, and the other was also an actuary who never gave ambigous answers. Yes am talking of Shri J.R.Joshi and M.K.Divan.They never asked us to change the  put up notes nor asked us to carry out anything contrary to rules. If they did not agree to certain points they used to record so giving therein the reasons and to act further. Mr.Joshi had a unique way of putting things. If some letter is prepared and put up for his signature,he would in case of any doubt raise the query on the copy of the letter and if satisfied tick the query and sign the letter. Several officers followed and most of them used to call for the change of notes giving their mindset. They had no guts to record the reasons for not agreeing with the procedure. The original question still remains.Why the bureaucrats have "chit bhee meri and pat bhhe meri"" thing.Are they also not reponsilble for the action of a minister. I hope to be enlightened by the erudite readers. K.S,Raman
 

INX Media Scam : SC Grants Interim Protection To P Chidambaram From Arrest In ED Case Till August 26

INX Media Scam : SC Grants Interim Protection To P Chidambaram From Arrest In ED Case Till August 26: The Supreme Court bench of Justices Bhanumati and A S Bopanna on Friday granted interim protection to former Union Finance Minister P Chidambaram in the case registered by the Enforcement Directorate...

TEXT OF MEMORANDUM SUBMITTED TO MOS

                     Dear  friends                                                                                             23-8-19

                                      I have read the report on the meeting   MOS on 22-8-2019 .
                   But I have not  seen the text of the memorandum  to MOS.  May I request   Sri D Keishnan
                   to  please make available the  text of the memorandum  for information of the  pensioners
                   Thanking u
                   y/s
                    cs murty 

Transmission of e-PPO (PDF & XML) to the authorized banks in fresh pension cases

Transmission of e-PPO (PDF & XML) to the authorized banks in fresh pension cases

Posted: 21 Aug 2019 10:14 PM PDT

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF EXPENDITURE CENTRAL PENSION ACCOUNTING OFFICE TRIKOOT-II, BHIKAJI CAMA PLACE, NEW DELHI – 110066 CPAO/IT&Tech/Master Data/14 Vol-III/P.F./2018-19/77 19.08.2019 Office Memorandum Subject :- Transmission of e-PPO (PDF & XML) to the authorized banks in fresh pension cases. e-PPO project has been started for issuing electronic PPO to pensioners and […]

CBT Approves Proposal TO Recommend Amendment in EPS 1995

Ministry of Labour & Employment

CBT Approves Proposal TO Recommend Amendment in EPS 1995


225th Meeting OF CBT Held on 21st August, 2019 at Hyderabad

Posted On: 22 AUG 2019 12:25PM by PIB Delhi
In a major decision, the Central Board of Trustees (CBT) EPF in a meeting held at Hyderabad on 21 August 2019, approved the proposal to recommend for amendment in Employees' Pension Scheme (EPS) 1995 for restoration of commuted value of pension to the Pensioners after 15 years of drawing commutation which will benefit approx. 6.3 lakhs pensioners. This was a long pending demand of the pensioners.
The Minister of State (I/C) for Labour and Employment Shri Santosh Kumar Gangwar who is also Chairman CBT, while addressing the CBT expressed satisfaction that Employees' Provident Fund Organisation (EPFO) is settling more than 91 % claims of EPF members in online mode and lauded the efforts made to improve services for settlement of claims of family of deceased members and  EPF call centre function 24 by 7.
He also appreciated the good governance strategy adopted by EPFO in saving of Rs.22 crores p.a. due to negotiating reduced OD charges increased FD interest and waiver of collection charges by SBI and further savings of Rs.50 lakhs p.a. due to reduction in collection charges by three banks and achievement of highest yield (8.55%) by Portfolio Managers since July 2015.
The Minister released the educative booklet on seasonal employees regarding special provision in EPS’1995 regarding eligibility of seasonal employees for pension. The contents of booklet brings out the Scheme provision that contributory service in any year, even if contributory period is less than a year is treated as full year of eligible service for seasonal employee and this will help dispel doubts in minds of members/employers.
The Chairman CBT also launched the revamped EPFIGMS 2.0 version which will benefit more than 5 crores subscribers and lakhs of employers by speedy and smooth resolution of grievances.
The Board approved the proposal for Selection and Performance Evaluation of next Custodian by the new Consultant which will be appointed on the basis of Report of Five Members’ Committee constituted by the CBT for the purpose.
In the matter of coupon default of IL&FS Ltd, the Board nominated three officers of Investment Division of EPFO to attend the Debenture – Holders’ Meeting that may be held in future and if need be, vote on behalf of the Central Board, EPF.
Selection of ETF Manufacturers: The Board approved the decision to choose the Exchange Traded Fund (ETF) manufacturers through public bidding by 30/10/2019, extension of the term of the present ETF manufacturers (SBI MF and UTI MF) till then and also to authorized the Finance Investment & Audit Committee (FIAC) to conduct the exercise of choosing ETF manufacturers.
Allocation of investment in Nifty 50 and Sensex: The Board approved the proposal that the fund allocation between Nifty 50 and Sensex ETFs be divided evenly, i.e. in the ratio of 50% to 50%.
Appointment of a Consultant in addition to M/s. CRISIL Ltd: The Board approved the nomination of members from employer’s and employee side in a Committee constituted to select and appoint a separate Agency/Consultant in addition to M/s. CRISIL limited, inter-alia to review the working of the Portfolio Managers (PMs), assist the investment Committee in redemption of ETFs, etc.
Appointment of Portfolio Managers for managing funds of Central Board, EPF: The Central Board approved Request for Proposal (RFP) document for appointment of Portfolio Managers and recommendation of the FIAC on appointment of Portfolio Managers.
Exercise of early redemption options available in DHFL Bonds: The Board approved for early redemption option in DHFL bonds recommended by FIAC. 
Consent for Transfer of Non- Convertible Debentures (NCDs) of GSPC to GSIL: EPFO has total investment of Rs.2300 Cr in GSPC NCDs. The Board approved the transfer of NCDs of GSPC to GSIL, a wholly owned subsidiary of Govt. of Gujarat and a better rated company which had made an offer to take over debt of GSPC with budgetary support of Government of Gujarat
Legal Entity Identifier Code (LEI) for participation in non- derivative markets by EPFO: In Nov’18, the Reserve Bank Of India (RBI) issued advisory to all eligible market participants in the Financial Markets to obtain LEI Code. The Board approved the nomination of the EPFO Officers as the authorized Officials to obtain LEI Code.
Withholding Investments in bonds of private sector companies: The CBT approved the decision to withhold any further investment in Private Sector Companies Bonds and to compulsorily consider one of the two required ratings necessarily from CRISIL, CARE, ICRA & India Ratings for investments in PSU Bonds category.
The Board ratified the decision of put option in NCDs of Tamil Nadu Power Finance Corporation and also approved put option in bond issued Kerala Finance Corporation & Tamil Nadu Power Finance and Infrastructure Dev. Corp. Ltd.
Shri Raghunathan, Employees' Representative on the Central Board, EPF appreciated the efforts of the Finance Investment & Audit Committee chaired by the Central Provident Fund Commissioner in finalizing the new Portfolio Managers for investing EPFO's corpus through a very transparent procedure. He further informed the Board that while SBI's Fund Management Arm has quoted 94% lesser than SBI PMS in the last mandate, UTI AMC has quoted 28% lesser. This would result in huge savings in portfolio management fees by EPFO.

***
RCJ/IA


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Krishna Janmashtami (widescreen) GREETINGS : R.B.KISHORE






GREETINGS TO ONE & ALL ON KRISHNA JANMASHTAMI DAY. A GREAT FESTIVAL. LORD KRISHNA IS BORN.MIRTH & MERRIMENT,VARIETY OF CELEBRATIONS,FESTIVITIES GALORE.

MAY WE INVOKE LORD KRISHNA'S BLESSINGS TO ENTIRE HUMANITY & WORLD , AS WORLD IS IN TURMOIL EVERYWHERE WITH  VIOLENCE,HATRED,BIGOTRY, SOURED RELATIONS, ECONOMIC SLOWDOWN, LITTLE CONSUMPTION DEMAND,POOR INVESTMENTS,DIM HOPES OF ECONOMIC STIMULUS,2.3LAKH CRORES WEALTH DESTROYED,MARKET SENTIMENTS POOR,  COLOSSAL LOSS OF JOBS,RISING UNEMPLOYMENT,GDP DECLINE,LOW EBB BUSINESS CONFIDENCE,


 WE NEED LORD KRISHNAS FLUTE MELODY SO SWEET, AS MUSIC FOR THE EARS TO  PENSIONERS FRATERNITY,DURING THE LAST LAP OF OUR TEDIOUS LEGAL BATTLE IN SC, TO GRANT US OUR MODEST  &LEGITIMATE DEMANDS OF TWIN BENEFITS.
LET SC BENCH OPEN THE EYES OF LIC & UOI & GRANT OUR LONG-FELT DESIRE ,FOR ELDERS & SR CITIZENS, IN THE TWILIGHT OF THEIR LIVES, TO WITNESS A DESERVING VICTORY,

MORE SO WITH GOVT GRANTING RBI PENSIONERS PENSION UPGRADATION PROSPECTIVE WITH MULTIPLIER FACTORS FOR EARLIER 3 WAGE PERIODS,& FINAL PENSION OPTION TO INSURANCE  PF OPTEES WITH CONDITIONS & A DEADLINE.

R.B.KISHORE
PATRON,AIRIEF

Meeting with MOS Finance on 22.08.2019