Prime Minister greets everyone on the occasion of Vijayadashami
Click below:
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2325351&RegID=3&LID=1
Prime Minister greets everyone on the occasion of Vijayadashami
Click below:
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2325351&RegID=3&LID=1
2 comments:
Whether bankmen opted pension before pension regulations 1995 notified ie., in 1994 drafts sceme for PSBs? AI overview Yes, bank employees did opt for pension under the 1994 draft scheme before the final Bank Employees' Pension Regulations, 1995 were officially notified.
The timeline and legal mechanisms functioned as follows:
• The 1993 Settlement: The initial Memorandum of Settlement to introduce a pension scheme in lieu of the Contributory Provident Fund (CPF) was signed between the Indian Banks' Association (IBA) and the unions on October 29, 1993.
• The 1994 Draft Scheme Circular: Following discussions by a "Small Committee" on pension regulations, a draft pension scheme was formally circulated to Public Sector Banks (PSBs) on March 17, 1994.
• The 1994 Option Window: Serving employees and officers on the rolls were required to exercise their irrevocable option to choose the pension scheme over the CPF under this draft framework, with deadlines generally set between April 1994 and November 30, 1994.
Legal Continuity of the 1994 Options
When the final Bank Employees' Pension Regulations, 1995 were officially published in the Gazette of India on September 29, 1995, a critical clause was included to protect the choices made during the draft phase.
As established in subsequent legal disputes and bank circulars (such as those issued by the Andhra Pradesh High Court and member banks), employees who had already submitted their pension option in 1994 under the draft scheme were explicitly deemed to have exercised their option under the final 1995 regulations. They were not required to submit a fresh option once the statutory regulations were officially gazetted. (one may see below) https://www.casemine.com/search/in/option%2Bfor%2Bpension%2Bbank%2Bof%2Bindia Cases cited for the legal proposition you have searched for.
Shashikala Devi vs. Central Bank Of India And Others
Supreme Court Of India
5. Learned counsel for the petitioner places reliance on the decision of the Apex Court in Shashikala Devi v. Central Bank of India and Others (2015 KHC 3127) to contend that the petitioner having exercised the option to quit the services of the bank which had to be accepted by 5 the bank to make it operational, the quitting of services by the petitioner cannot be considered as a resignation. It is contended that since there was no option to avail voluntary retirement from the services of the bank at the relevant time, the petitioner had no other option but to exercise the quit option. It is contended that all she intended to do was to seek a voluntary retirement from the services of the bank and it was only because the VRS scheme was not operational in the bank at the relevant time that the petitioner was forced to submit a quit option. It is further contended by the learned counsel for the petitioner that pension being an incident of service and the Pension Regulations being a beneficial piece of legislation, the terms of the pension regulation have to be beneficially construed so as to grant the benefit of pension to the petitioner who was forced to quit
Cited in:K.V.PADMAJA vs. KERALA GRAMIN BANK
Kerala High Court
AIIEA and AIBEA betrayed their own members by not agitating passively during last three decades for pension upgradation while wage revisions were granted every five years like RBI which won after two decades for not accepting universal concurrence of the fact of "Pension is undisbursed low wage during service paid after retirement". It is double whammy for LIC where no TU rights exist for workers who never wanted to recover what was there before 1981 .LIC in-service were/are satisfied with the benefits flowing from bankrupt banking sector with courtesy of DFS.
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