ALL INDIA BANK OFFICERS ASSOCIATION
Circular No.8/VIII/2026 10.02.2026
To:
ALL STATE COMMITTEES / AFFILIATED UNITS
Comrades,
In the background of the introduction of Pension in lieu of Contributory Provident Fund in RBI in 1990, the need and the necessity were felt by the workforce in our industry also for securing the same as one of the service conditions.
- 2.Accordingly, on 29th October 1993, a settlement was entered into between unions/Associations with IBA to benefit the past retirees also. The effective date of the said settlement was from 1.01.1986.
2(a). The settlement signed under ID Act 1947 clearly laid down the clause for up-dation and other issues connected with the Pension regulations, which is as under:
"Provision will be made by a scheme to be negotiated and settled between the parties to this Settlement by 31st December 1993 for applicability, qualifying service, commutation of pension, family pension, updating and other general condition etc., on the lines as are in force in Reserve Bank of India"
- 3.The Pension regulations were notified in the Gazette by the Government of India on 29th September 1995, in which the Regulation 35 (1) reads as under:
"In respect of employees who retired between 1st day of January 1986 but before the 31st day of October 1987, basic pension and additional pension will be updated as per formula in Appendix I"
Amendment carried out after 2002 in the above regulation is as under:
"Basic Pension and additional pension where ever applicable shall be updated as per the formulae given in Appendix -I"
- 4.The formula was provided as an Appendix in the Bank Employees' Pension Regulations 1995.
- 5.The above provisions related to Regulation 35 (1) was amended, thus removing the period specified in the earlier one. (1.1.1986 TO 31.10.1987)
- 6.In the meanwhile, four retirees from Reserve Bank of India had preferred legal intervention in the Hon'ble High Court Bombay and there was a direction by the Court to give
a point wise reply in the WP 710/2009 filed by Mr. Arvind Ganesh Karnik and others and file the same in the Hon'ble High court of Bombay. As per the operative portion in the said reply filed by DFS,GOI, MOF, Rs 1034 Cr was required for updating the Pension in Public Sector Banks excluding SBI.
- 7.In spite of the clear expression made in the reply by DFS,GOI, Still, GOI vide their letter dated 5.03.2019,advised RBI to revise the pension with effect from 1.01.1986 and subsequently RBI updated the Pension up-to the current wage revision.
- 8.In the conciliation held on 27th and 28th January 2023 as well as in the discussion held on Jan/Feb 2023 with IBA, unions/associations demanded the input details for the purpose of up-dation with IBA to know the impact analysis on the Balance sheet of the Banks.
- 9.There was an earlier exercise of actuarial valuation conducted by Shri. Sharma of Hyderabad and Shri. Basu from Kolkata, in which all the 9 constituents were also engaged. Finally, it was agreed between both parties that there was a short fall of Rs 6000 crores in the Pension Fund. Subsequent to the said exercise, it was agreed mutually that Rs 4200 crores would be allocated to the Pension Corpus by the banks and Rs 1,800 crores should be contributed by 2,65,000 serving employees and 65000 retirees.
- 10.To sum it up, in our considered opinion, as on 1.04.2010, there was no shortfall in the pension corpus.
- 11.Now, as per clause no 11 of Bank Employees Pension Regulations 1995, every year as at the close of 31st March, based on the actuarial calculations, provision to Pension Fund needs to be done by the individual banks.
- 12.As at the close of 31.03.2024, the pension corpus of 11 Public Sector Banks stood at Rs 244468 Crs and SBI Rs 167431Crs.
- 13.In an unstarred question No1828 dated 13.02.2023, Dr. Bhagwat Karad, Minister of State for finance stated that
…………."IBA further informed that the committee set up to look into the matter of Pension up-dation of PSBs has submitted its report to the Hon'ble Supreme Court and the matter is subjudice"
- 14.The number pensioners and family pensioners in the industry is 780171 Including SBI Retirees.
- 15.We, as a trade union, need to protect the interest of the last employee who joined the Bank on31.03.2010 under OPS, who will retire at 31.03.2045.
In securing the up-dation of pension, every effort should be made to envelope all organisations of Bank retirees on priority.
Yours comradely
/S.NAGARAJAN/ GENERAL SECRETARY
5 comments:
What is number of 20% rich families in india and what is the average worth including their residence? AI Mode:
In 2025, the top 20% of Indian families represent approximately 59 to 60 million households. Based on current wealth distribution data, their average net worth—which includes residences, gold, and financial assets—is estimated at approximately ₹50–60 lakh per family.
Wealth Profile of the Top 20%
Total Number of Families: As of late 2025, there are approximately 296 million to 300 million households in India. The top 20% equates to roughly 59.2 million to 60 million households.
Asset Composition: For this segment, wealth is heavily concentrated in physical assets. Real estate (primary residence) and gold typically account for the vast majority of their net worth. Indian household gold reserves alone are estimated to have crossed $5 trillion in value by 2025.
Wealth Distribution Context:
Top 1%: Owns roughly 40% of national wealth, with an average net worth per household estimated between ₹2.5 crore and ₹3 crore.
Top 10%: Owns approximately 65% of the country's total wealth.
The "Rich" Threshold: In major metros, a household net worth of ₹50 lakh to ₹1 crore is categorized as the "Upper Middle Class" to "Rich" entry point.
Key Affluence Benchmarks (2025) Key Affluence Benchmarks (2025)
Category Approx. Household Number Net Worth Threshold
Top 20% (Avg) ~60 Million ₹50 – ₹60 Lakh
Millionaire Households 8.71 Lakh ₹8.5 Crore+
Super Rich (V-HNI) Varies ₹25 – ₹50 Crore
Billionaires 358 Individuals ₹8,500 Crore+
While the top 20% are significantly better off than the bottom 50% (who hold only about 6.4% of national wealth), the vast majority of wealth within this top quintile is concentrated in the hands of the top 1% to 3%. (Retirees of financial sector who were once In-Service never bothered about pension like SBI since 1955 betrayed their seniors perhaps accounting one million who are dead now with stagnation wages with no pension were getting increased wages/pensions every five years due to economic reforms of PVN RAO who was abused for his efforts to make India a developed country gradually, They never pressed GOI/IBA to accept the principle of "pension is undisbursed low wages during the service done during six wage negotiations which made them to receive double the wages within three decades. Banking Service which is essential could have been easily used was not done for the benefit of retirees favouring In-Service only all these days.)
PREFACE
Sharma, Ram Karan (2025-12-18) Humanity Before Gods: From Our Origins to Our Future in the Universe: Since the beginning of our existence, humanity has carried a silent question within its mind:
“Who are we, and why are we here?” Thousands of years ago, this question had no scientific answer.
There were no telescopes to read the stars,
no microscopes to see life,
no books to explain the universe,
and no tools to separate truth from fear. In the darkness of the unknown, humans created meanings.
Not because they were wrong—
but because they were trying to survive. Thunder felt like anger.
Sunrise felt like hope.
Disease felt like punishment.
Death felt like mystery. And from these feelings,
we created stories.
From stories, we created gods.
And from gods, we created religions. But long before religions appeared—
long before temples rose,
long before rituals formed,
long before scriptures were written— Humanity already existed. Kindness existed before commandments.
Compassion existed before traditions.
Empathy existed before organized belief.
And truth existed before interpretation. Today, we live in an age where knowledge is no longer locked away.
The universe is open to us.
Science reveals what was once hidden.
Technology answers what once terrified us.
And humanity now stands at the greatest turning point in its history.
We are not just followers of old stories.
We are the authors of the future. This book is not written to break religion.
It is written to break ignorance, fear, and division—
the three forces that have held humanity back for centuries. Through these chapters, we will travel across billions of years:
from the birth of Earth,
to the rise of life,
to the evolution of humans,
to the creation of religions,
and finally to the future where Humanity itself must become our only universal dharma. My intention is simple:
to remind us who we truly are. Not divided beings shaped by belief—
but a single species shaped by the universe.
Not prisoners of identity—
but expressions of stardust,
born with the ability to love, think, imagine, and evolve. Humanity Before Gods is not just a book.
It is a mirror.
A guide.
A question.
And a possibility. If we choose humanity over division,
logic over fear, and compassion over conflict— This book is my offering to that future.
And to every human heart that still believes
we can become more than what we were told to be. We know how life began.
We know what stars are made of.
We know how civilizations rise and fall.
We know how minds form beliefs.
We know how fear controls societies.
And we know how humanity can unite. We stand at the beginning of a new chapter—
one where science answers what religion once tried to explain,
one where logic replaces fear,
one where compassion replaces conflict,
one where humanity becomes our only universal identity. Humanity Before Gods is the story of all of us—
our origins,
our evolution,
our mistakes,
our beliefs,
and our potential to become more. This is not just an introduction to a book.
This is an invitation:
to think deeper,
to see clearer,
to rise higher,
and to remember what we always were—
humans first, everything else later. The journey begins now.
For as long as humans have existed, we have lived between two worlds:
the world we can see, and the world we cannot explain. Every sunrise brought hope.
Every storm brought fear.
Every illness brought uncertainty.
Every death brought silence. And in that silence, our ancestors began asking the questions
that would eventually shape the entire history of humanity: Who created us?
Why are we alive?
What happens after death?
What controls the universe? In a world without science,
without tools,
without knowledge,
humans did the only thing they could—
they imagined answers. They looked at lightning and saw anger.
They looked at the Sun and saw a god.
They looked at the stars and saw messages.
They looked at calamities and saw punishment. What we call religion today
was once just a story to bring comfort in a terrifying world. These stories helped humans survive.
They built societies,
they gave hope,
they created unity,
and they gave meaning where there was none. We learned the Earth is not the center.
We learned diseases are not curses.
We learned evolution shapes life.
We learned the universe is 13.8 billion years old.
We learned we are made of stardust.
We learned fear is not truth.
We learned belief is not knowledge. And we learned something even deeper: Humanity is older than every religion ever created. Before temples, there were families.
Before rituals, there was compassion.
Before scriptures, there were stories around a fire.
Before gods, there was survival, unity, and love.
Humanity came first.
Religion came later.
And now, in this age of knowledge,
humanity must rise again. This book is not written to judge religions.
It is written to understand them:
where they came from,
why humans needed them,
and why humanity must now evolve beyond the divisions they create. Because today,
for the first time in history,
we have something our ancestors never had: Clarity.
We know who we are.
We know where we came from.
If we could travel back to the very beginning—before humans, before animals, before even the first drop of water—we would find ourselves standing in the middle of a violent, chaotic universe.
Stars were exploding. New worlds were forming. Gravity was pulling dust and rock into massive spinning disks. Inside one of those swirling cosmic storms, something extraordinary happened: our Earth was born. It didn’t look like the planet we know today.
There were no oceans. No sky. No soil.
Only a glowing sphere of molten rock, hotter than fire itself. In those early moments, Earth was more like a living volcano than a world.
Rivers of lava flowed across its surface.
Asteroids crashed into it with the force of millions of nuclear bombs. The air was poisonous, filled with smoke and metal vapors.
Lightning ripped through clouds of dust, lighting up a sky that no eye could see. If someone tried to stand on Earth at this time, they would not have lasted even one second.
There was no breath to breathe, no ground to walk on,
no water to drink.
Just heat, fire, chaos, and silence. This was Earth in its infancy—
a newborn planet trying to find shape inside the darkness of the universe. Scientists believe our planet formed from the leftover pieces of the Sun’s birth.
When the Sun ignited, it pushed huge waves of particles outward.
Some of that material gathered together, piece by piece, until gravity fused it into a ball.
That ball became the early Earth. Imagine taking millions of hot metal marbles, spinning them inside a furnace, and watching them melt into one giant sphere.
That is the simplest way to picture Earth’s creation. It wasn’t designed.
It wasn’t planned.
It simply happened—through the natural laws of physics, over millions of years. The young Earth rotated faster, burned hotter, and shook constantly under endless impacts.
But slowly, very slowly, the surface began to cool.
Cracks formed in the crust.
Vapors rose from the molten core.
A primitive atmosphere—thick, toxic, heavy—began to build around the planet like a blanket. Nothing alive could have existed here.
Life didn’t even have a place to start.
Earth was still learning how to be a world. But this fiery beginning was necessary.
Without this molten, violent phase, our planet would never have formed the elements needed for life.
Iron, carbon, oxygen, silicon—all were forged in ancient stars and delivered to Earth through cosmic collisions. Our home was born not in peace, but in fire.
And that fire became the foundation of everything that would follow:
air, oceans, land, forests, animals, and eventually… us.
The story of Earth begins with heat.
The story of life begins with cooling.
The story of humanity begins long after both. To understand who we are, we must begin here—
in the heart of a young planet still glowing from the memory of its creation.
After millions of years of fire and chaos, a quiet transformation began on the young Earth.
The molten surface slowly cooled.
The storms softened.
And the glowing rocks turned dark and solid.
For the first time, the planet began to feel like something that could become a home. As the surface cooled, steam from the hot interior rose toward the sky and collected into thick, dark clouds.
These clouds carried more water than all the oceans of today combined.
And then, it began to rain. Not for a day.
Not for a week.
But for thousands—perhaps millions—of years. Imagine a rainfall so constant that it had no beginning and no end.
A rainfall that covered every mountain, every valley, every inch of Earth with cascading sheets of water.
Drop by drop, the empty basins on the planet filled up. And from this endless rain, something miraculous emerged—
the first oceans. When the oceans formed, Earth finally had the one ingredient that all life depends on.
Water.
Cool enough to hold molecules together,
and warm enough to keep them moving. Deep in these ancient oceans, where sunlight could not reach and temperatures were just right, something extraordinary happened.
Simple chemicals, pushed and pulled by heat, minerals, and time, began to arrange themselves into patterns.
Some of these patterns became stable.
Some broke apart.
But one of them did something truly magical. It copied itself. This was the first spark of life. A tiny bubble-like structure—smaller than the smallest grain of dust—became the first living cell.
Fragile.
Simple.
Alone.
Yet powerful enough to change the destiny of the planet. It had no eyes, no brain, no awareness.
It could not move or think.
But it could do something no rock, no mountain, no ocean could do—it could grow and multiply. This single microscopic creature was the ancestor of everything that breathes today. Every plant.
Every fish.
Every bird.
Every animal.
Every human being.
All of us trace our existence back to this tiny spark in the ocean. To understand how small and simple this first cell was, imagine a soap bubble floating in the water.
Inside it, a few molecules bump into each other, sometimes by accident forming something new.
Yet from this fragile bubble came all the complexity of life that we see around us. It is easy to think that life began with purpose or intention.
But science tells a different, more humble story.
Life began not with a plan, but with possibility.
Not with design, but with chance and chemistry. And yet, this simple beginning was enough.
Because life does not need perfection.
It only needs a chance—a small opening in the laws of nature—to take root, grow, adapt, and evolve. The oceans cradled these first cells like a mother cradles a newborn child.
Protected from the harsh sunlight and deadly radiation above, life found a safe place to begin its long journey. A journey that would transform a silent world of water and rock into a planet filled with color, movement, feeling, and consciousness. The story of life begins quietly—
with a drop of water, a spark of chemistry, and a moment of extraordinary luck. In the next chapter, this simple beginning will grow into incredible diversity.
Life will learn to change, to adapt, and to evolve—
moving slowly toward creatures with bodies, senses, and eventually… minds capable of thought. But before life could think, feel, or dream,
it first had to exist. And existence began here—
in the calm, warm cradle of the ancient oceans.
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