Here is the punch:
1. 100% DA Neutralization was duly accomplished by RBI through its circulars .
2.Kolkata High Court had already ordered for on 04 03 2015 the Board of United Bank of India and the GOI to review the illegal provision of cut off date 01.11.2002 for effecting 100% DA Neutralization for a rectification..
3.In Apex Court orders dt 01 07 2015 revision of pension simultaneously with revision in pay scales was ordered to be implemented following the CCS formula prescribed for the purpose to the lecturer employees of State of Rajasthan.The same rationale applies for Public Sector Banks as they too come under the definition of 'State' by virtue of Article 12 of the Constitution of India.
4. Regulation 35(1) along with the formula for updation provided for under Appendix ! of Bank (Employees' ) Pension Regulations,1995 is not yet repealed or amended so far . Provisions of the same to be applied following the pattern of CCS Rules 1972 and Commutation of Pension to CCS employees Rules 1981 in terms of .provisions laid down under Regulation 56.
5. Pension updation implemented from 2002 by RBI was to be discontinued in 2008 on the behest of GOI , and proposal dt October 2011 for reintroduction of Pension Updation in RBI submitted by RBI to GOI is still pending with GOI for sanction.
6. In case the said serious engagement of RBI with GOI for over FOUR years comes to fruition with the intervention of the Hon'ble Prime Minister, the same scheme shall be implemented in Public Sector Banks also in terms of the Pension Settlement dated 29 10 1993.
7.Madras High Court had vide its orders dated 01 04 2015 ordered UBI to allow admittance of CRS employees under the terms of Joint Note Dated 27 04 2010 into Pension Fund following the existing Regulations that could not be amended so far and which are in full force as on date , since an official circular of administrative nature would not suffice to override the existing provisions of the statutory regulations in force through imposition of such terms of a Joint Note which could not be carried out as amendments correspondingly.
8..Hence the Terms of Joint Note 27 04 2010 that could not be carried out as amendments shall not carry the force of law and hence all the Regulations that were in force as on the date of admittance of employees and retired employees into the Pension Fund as its members under the said terms of Joint Note dated 27 04 2010 shall alone be enforced in place of the illegal terms of the Joint Note date 27 04 2010 since powers of a statutory authority cannot be enlarged by-
a) acquiescence,
b)waiver, or
c)estoppel ,
and more over the Public Sector Banks have to follow the rationale of the said Hon'ble Madras High Court Judgement dated 01 04 2015 .
Every constitutional and legal basis is available for the Hon'ble PM to act upon the request of the pensioners provided the request is properly based on facts, relevant Judgments dated 04 03 2015, 01 04 2015 , and 01 07 2015 of Hon'ble Kolkata,Madras, and Apex Courts
respectively .
Otherwise where would the GOI search to find out the real problem for a solution that is really available with it. ?
Please ponder over the real issues , problems, facts, rational decisions, circulars, Board resolutions etc. before plunging into action.
All the Best.
