This WEDNESDAY VIBRANCE of - + WHETHER WINDS CHANGING FROM WORSE TO BETTER for - BANK RETIREES

AFTER 2010 2nd PENSION OPTION, THERE CONTINUOUS DEBACLES THRUGHOUT THESE YEARS FOR BANK RETIREES AND, WITH 2015 BIPARTITE SETTLMENT AND LOSING 100% DA CASE IN SUPREME COURT AND PENSION UPDATION CASE IN HIGH COURT FULL BENCH,   MATTERS GONE GOOD TO BAD AND BAD TO WORSE.

EVEN A SOLACE TO 1993=94 RETIREES REG GRATUITY CASE ALSO NOT FRUCTIFIED.

NOW

GOI has approved the 'Committee' recommendations regarding SBI 5th, 6th, & 7th Bipartite retirees Pension Revision and have sent it to Bank for further necessary action.

In this connection our Chairman has instructed to all LHOs to make ad-hoc payment up to 90% of dues. Since the total number of beneficiaries would be around 40,000, it will take few days to complete the payment of dues of arrears to the eligible pensioners. The work will be done in lots of about 6000 pensioners and the payment of arrears to 'first' lot has already been started crediting to their pension a/cs w.e.f. 15th July 2017.

NOW SBI MANAGEMENT IS GENEROUS FURTHER on directions from MOF/DFS & Monitoring by Hon. High Court of Delhi. For this monitoring, the hearing date postponed to 11.8.2017 from 12.7.2017

IN THE HIGH COURT OF DELHI AT NEW DELHI

WP(C) 1875/2013

FEDERATION OF STATE BANK OF OF INDIA AND ORS

                                                                                            .......Petitioners

THE UNION OF INDIA AND ORS                    ...........Respondents

ORDER   12.07.2017

Parties are present.  

List on 11th August, 2017, the date already fixed. 
On the said date, arguments would commence and continue on day
-to-day basis.  
In the meanwhile, the respondent bank would place on record copy of the letter written by them to the Reserve Bank of India and the Union of India in connection with the recommendation of  the Committee,  with response, if any, received.  

SANJIV KHANNA, J.         NAVIN CHAWLA, J.

source > http://sbipensionerspune.org/next%20final%20pages/current%20news.html

This is to compensate and fecilitate the OLD AGED RETIREES who waited for long   and to circumvent further long time that is to be waited to pay the amounts after completion of the following formalities.

As per Section 50(1) & (2) (o), this will require the approval of Central Board to make necessary amendment /regulation in the PensionFund Rules.
Following processes are involved :
 (i) Consultation with RBI ,if it has not already taken place .
  (ii) Putting the proposal to Central Board and Trustees. These two takes place same day.
  (ii) Gazette Notification will be issued.
   (iii) Putting up the matter to both the Houses of Parliament.

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AND, on this above development, THE COORDINATION OF BANK PENSIONERS' AND RETIREES ORGANISATIONS raised hopes/claims in its circular dt.2.08.2017 :

The one positive development for us in our struggle for more than a decade is the resolution of anomalies that had arisen after Bipartite Settlements affecting the SBI Retirees and we are happy that about 40,000 aged SBI Retirees got the arrears due to them in July 2017.

We fondly hope that this will be a prelude to further successes in respect of other issues forwhich we have been struggling.

BUT

would there have been such monitoring  in  rbi pension updation case,  there could be positive result for retirees but it  was left with  speaking order by government.

NOW THE SUCCESS LTD TO SBI PENSIONERS & THE ENTIRE CREDIT GOES TO

THE FEDERATION OF STATE BANK OF OF INDIA PENSIONERS and its top team heard Mr.A.Ramesh Babu struggled a lot for pursuing the case to success.

KUDOS & CONGRATS  to them.

wait & see whether their fragrance of success touch us also.

= VBV RAMESH