MOST CHAOTIC AND DETRIMENTAL PART OF THE AMENDED PENSION REGULATIONS 2017 IS:
Further at end of gazette notification,
the following added to sanctify the present DA system to pre nov2002 retirees.
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EXPLANATORY MEMORANDUM
The Regulations which have been given retrospective effect are as per the agreed terms and conditions of the settlements and Joint Notes signed between the Indian Banks' Association on behalf of member banks on the basis of specific mandate given by the respective banks in this regard and apex level workmen unions and officers' associations of the Banks. Therefore, interests of no person shall be adversely affected by such retrospective effect.
R R MOHANTY, General Manager (HR)
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THUS NULLIFYING/OVERWRITING THE ARGUMENTS OF RETIREES LAWYERS IN 100% da case, THE EXPLANATORY STATEMENT MADE THOUGH IT WAS ARGUED THAT THERE NO SUCH AGREEMENT IN BIPARTITE SETTLEMNET OF 2005 AND IBA UNILATERALLY GIVEN ADMINISTRATIVE INSTRUCTIONS BY PUTTING CUT-OFF DATE FOR PRE NOV 2002 RETIREES, LETTER OF IBA TO COM,GODBOLE UNDERNOTING TO INPLEMENT AS IMPLEMEMNTED IN RBI.
SIMILARLY IN CASE OF 2ND PENSION OPTION, THOUGH THE RETIREES ARE NOT PARTY TO JOINT NOTE OR RECORD NOTE 0- THE WORDING IN EXPLANATORY NOTE COVERED THEM ALSO.
= VBV Ramesh
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