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Saturday 27 June 2015

BANK RETIREES NEWS- Initiation of legal remedies

UNION BANK RETIRED EMPLOYEES' ASSOCIATION

Friends,

 Initiation of legal remedies for resolution of pensioners' grievances​

    Since genuine demands of bank retirees are not considered in the recently signed 10th BP Settlement, according to a school of thoughts, we should initiate steps for legal remedies.

    Following are the few abstracts of such a writ petition recently filed in Delhi High Court for up-dation of pension.

    This e-mail is received by us from our Union Bank Retired Staff Association (Tamilnadu).

Yours sincerely,
B.G.Raithatha,
                                                  General Secretary                                                               

ICC amends ODI rules; suspends USA Cricket Association

 A file photo of the Melbourne Cricket Ground.

 A file photo of the Melbourne Cricket Ground.

No catchers in the first 10 overs, no batting powerplay and five fielders outside the 30-yard circle in the last ten overs are some of the changes made.

In what will come as a relief to bowlers, ICC has decided to get rid of catchers in the first ten overs, removed the batting Powerplay and also allowed five fielders outside the 30-yard circle in the last ten overs of an innings in one-dayers.
The ICC also said that all “no balls” and not just over-stepping by the bowlers will result in a free hit in both ODIs and Twenty20 Internationals. The rule changes will come into effect for series starting on or after July 5.

Financial Frauds – Prevention: A Question of Knowing Somebody

Date : Jun 26, 2015

(Speech delivered by Shri R. Gandhi, Deputy Governor at “2nd National Conference on Financial Frauds Risks & Preventions” organized by ASSOCHAM on June 26, 2015 at New Delhi)
Ladies and Gentlemen, it’s a great pleasure for me to be amidst all of you this morning to inaugurate the conference on Financial Frauds – Risks and prevention.
Introduction
2. “There are three things in the world that deserve no mercy - hypocrisy, fraud, and tyranny” - Frederick William Robertson

Atal Pension Yojana

Atal Pension Yojana – Benefits and Features of Popular Pension System launched by Govt recently

Atal Pension Yojana Scheme Details

Pension Fund Regulatory and Development Authority
First Floor, ICADR Building, Plot No 6, Institutional Area Phase II,
Vasant Kunj, New Delhi-110070

ATAL PENSION YOJANA – BENEFITS AND FEATURES

1. Anybody in the age group of 18-40 years can join !!
2. You can choose your pension plan from Rs 1,000/- to Rs 5,000/- per month.
3. Your contribution depends on your age and the pension plan you choose!
4. You can be a member of any existing PF/Pension scheme such as EPF/PPF/Govt. pension and still join APY!
5. You can be an Income tax payer and still join APY.
6. For (4) and (5) above, Govt. Co-contribution is not available but Govt. guarantee for pension will be available!
7. Govt. Co-contribution of 50% of subscribers’ contribution or Rs 1,000/- per annum, whichever is lower will be available for five years only to subscribers joining by 31st December 2015.
The monthly contribution chart for different age groups and pension amounts is given below:
Joining Age Years of Contribution
Indicative Monthly Contribution under APY (Rs.)
Monthly pension of Rs. 1000. Indicative return of corpus Rs 1.70 lacs Monthly pension of Rs. 2000. Indicative return of corpus Rs3.40 lacs Monthly pension of Rs. 3000. Indicative return of corpus Rs 5.10 lacs Monthly pension of Rs. 4000. Indicative return of corpus Rs6.80 lacs Monthly pension of Rs. 5000. Indicative return of corpus Rs 8.50 lacs
18 42 42 84 126 168 210
19 41 46 92 138 183 228
20 40 50 100 150 198 248
21 39 54 108 162 215 269
22 38 59 117 177 234 292
23 37 64 127 192 254 318
24 36 70 139 208 277 346
25 35 76 151 226 301 376
26 34 82 164 246 327 409
27 33 90 178 268 356 446
28 32 97 194 292 388 485
29 31 106 212 318 423 529
30 30 116 231 347 462 577
31 29 126 252 379 504 630
32 28 138 276 414 551 689
33 27 151 302 453 602 752
34 26 165 330 495 659 824
35 25 181 362 543 722 902
36 24 198 396 594 792 990
37 23 218 436 654 870 1,087
38 22 240 480 720 957 1,196
39 21 264 528 792 1,054 1,318
40 20 291 582 873 1164 1454
SUBMIT YOUR APPLICATION FORM AT YOUR BANK BRANCH
For more information, Please call on our APY Toll free No. 1800110069
Download Atal Pension Yojana – Scheme Details

World economy risks 1930s-type Great Depression, warns Rajan


 World economy risks 1930s-type Great Depression, warns Rajan
 Raghuram Rajan, RBI Governor
London, June 26
Global economy is “slowly slipping” into Great Depression-like problems of 1930s, RBI Governor Raghuram Rajan has warned, asking central banks from across the world to define “rules of the game” to find a solution.

BANK RETIREES NEWS Memorandum to surat collector

                                    UNION BANK RETIRED EMPLOYEES' ASSOCIATION
(Registered under Trade Union Act, 1926 : Registration No.G-6201)
(Affiliated to All India Bank Retirees' Federation
through All India Union Bank Retirees' Federation)
203, Navkar Commercial Complex, Near Syndicate Bank,
Near Para Bazar Chowk, Dhebar Road - North (one way),
Rajkot - 360 001 (Gujarat). 
E-mail < ubiretirees@gmail.com >  Phone: 0-94272-07021
--------------------------------------------
Date: 
​27th June,'15​

To
All the regular recipients of our Association's e-mails,

Friends,


Bank Retirees' Issues - ​Memorandum through Surat District Collector​




    Representatives of the Bank Retirees stationed at Surat (Gujarat) handed over a Memorandum pertaining to the Bank Retirees' issues to the District Collector.



    A photograph is sent herewith. 


Yours sincerely,
B.G.Raithatha,
General Secretary

                                                        

Latest Status ;; Releasing 20%


Dear Editor,

                As per information with me after checking up the same with concerned LIC Officials even today or say just now, D.O. Chandigarh has not yet received any instructions from Z O/  C.O. for release of 20%.

Regards,
B.R.Mehta
Panchkula

Friday 26 June 2015

BANK NEWS-An article by Shri Rajesh Goyal



This is the Time for Coup by Bankers against Unions and Their Leaders – If You Miss This Opportunity, You will Face Worse 11th  BPS
by
Rajesh Goyal 

We have written several articles and exposed almost every move of the UBFU in last 30 months or so.  A Number of other bankers have also contributed towards the articles as to how UFBU had dismal low performance and almost sold the interest of the bankers.

BANK NEWS

IBA clarifies on Stagnation Increment under 10th Bank Wage Settlement for Bank Employees

Indian Bank’s Association
HR & Industrial Relations
No. CIR/HR&IR/XBPS/KU/919
June 16, 2015
Designation Officers of Banks which are parties to the 10th Bipartite Settlement/Workmen Union dated 25.5.2016
Dear Sir,

Stagnation Increment

Under the recently signed 10th Bipartite Settlement, it has been agreed that employees shall be eligible for 8th stagnation increment on 1st May, 2015 or two years after receiving stagnation increment, whichever is later.
It has been further agreed that the period of 3 years shall be reduced to 2 years for sanction of 6th stagnation increment.  Accordingly it has bee provided in the Settlement that an employee who has completed two years or more after receiving the fifth stagnation increment as on 1st November, 2012 shall receive the sixth stagnation increment as on 1st November, 2012.
In this connection, we advise that the financial benefit on account of this reduction of eligibility from 3 to 2 years for sanction of the 6th stagnation increment shall accrue on or after 1.5.2015 since the additional cost of such reduction in periodicity from 3 to 2 years has been adjusted at 50% of the actual cost and hence to be effective from 1.5.2015 (30 months out of 60 months of the period of the Settlement).
However under clause 40 of the settlement dated 25.5.2015 in ‘Implementation’ it has inadvertently mentioned as under:-
3 Stagnation Increment – 8th 1st May, 2015
In view of the adjustment of cost as 50% of the total cost towards improvements in stagnation increment/s this needs to be corrected and read as under:
3 Stagnation Increment improvements (5th to 6th & 7th to 8th Stagnation increment) 1st May, 2015
Member banks may kindly take a note of the above.
Yours faithfully,
K. Unnikrishnan
Dy. Chief Executive
Download IBA Circular No. No. CIR/HR&IR/XBPS/KU/919 dated 16.06.2015

The Taj Mahal as the day's first tourist trickle through the Gates


SMS based alert service for cancelled Trains

Press Information Bureau
Government of India
Ministry of Railways
25-June-2015 15:08 IST
SMS based alert service for cancelled Trains

Ministry of Railways has started yet another passenger friendly measure on pilot basis, under which SMS messages would be sent to passengers informing about train cancellation in case the train in which they have booked their tickets for is cancelled due to unavoidable circumstances. Under this pilot project, the SMS messages are being sent to those passengers who are boarding at originating station. At a later stage, this will be extended to cover enroute station also. This exclusive SMS based service has been commenced on all India basis.

The SMS will be sent to their respective mobile numbers entered by them in reservation slips while buying tickets from PRS counters or while purchasing online e-tickets. The cancellation information would be sent quite in advance to the passengers for their convenience so that it may help them plan alternative arrangement in time. To avail this facility, passengers are advised to invariably mention their mobile numbers on the reservation slips.

The software for this service has been developed by Center for Railway information systems (CRIS), the information technological (IT) wing of the Indian Railways.

Collective wisdom is the need of the hour




           Shri Mahadevan’s expertise in exposing the appellant’s wrong calculation intentionally or not in arriving the amount to be remitted in the court registry should wake us from hibernation and become more alert to face the SC hearing on 23 SEPTEMBER. 

ARIEF’s move to implead into the case is a wise decision at the right time. Their clarion call to its members for donation towards legal expense although welcome may get a luke warm response as already they have doled their contribution to Shri Asthana for the same purpose. However the response could be good if a joint call is given unitedly by the various officers association under a common banner and under a common bank account to be supervised by their appointed representative. Who is to bell the cat ?. In this electronic age Video conferencing and Whatapp has become handy and could be utilized for someone to take the initiative. 
Collective wisdom should prevail, ego and jealousy given a go by. I am reminded of the second world war , to combat the German on slought and their  enviable and supreme fire power Winston Churchill took up the lead and to orchestrate the forming of an allied force to defeat a common enemy. But for this history should have been written in a different way. Calling for the shot at the right moment and taking timely action is the need of the hour. Petitioners in the cases being benefited though not fully by the SC ORDER it is the pensioners at large, who are left high and dry, many of them being  in the sun  set of their life.
However much the court order is clearer, LIC on its own will hesitate to act  unless they get the briefing from the Finance ministry. 
This has become apparent in MC Jain case. DB of Jaipur HC has dismissed the appeal by LIC , vacated the stay and ordered the appellant to refix the pay scale of the petitioner with all consequential benefits. That similarly placed pensioners (who are hardly 98 in number) should also lawfully get the benefits in accordance with the ruling in SC NO Appeal(Civil) NO 1289/2007 : Vide paragraph 25 of the judgment which ruled that” revision of scales of pay as also other allowances are technical in nature. When a benefit is extended to a group of employees, the effect of such benefit, if otherwise comes within the purview thereof must be held to be applicable to other groups of employees also “But when ED( P ) was approached to take action he passed the buck to the CO Legal department for clearance and they have not done it under some pretext or other. Is the Legal DEPT competent to change law, alter or amend a court order or is there another bench siting in the Legal Dept. to give its own verdict ?
To the suggestion that we may engage a high profile lawyer who has to get a thorough grasp of the earlier proceedings whether it will be wise to change the horse in the mid-stream at this juncture. Instead the counsels in different suits should work in unison and we have in our midst men of sufficient legal knowledge, some of them practicing in the bar also could give valid inputs for the arguments in the final hearing
DIVIDED SHOULD NOT WE TO FALL UNITEDLY
R.K.VISWANATHAN

6 Stretches for Sciatica Relief

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