Welcome stand of Finance minister
on Updation of bank pension
We have reports of Business Line Interview with Smt. Nirmala Sitharaman, Union Finance Minister: 2020 Oct. 30.
We bank pensioners are having genuine concern on pension updation issue, a long pending and affecting issue.
In reply to a question regarding
the biggest challenge in the very sensitive banking sector now especially in terms of reforms, she began with big thanks to all recoganizing
the hard work done by bank employees during the lockdown and immediately after that, in particular,
and the difficult environment to which bank employees are exposed in general,
reaching out to far flung villages,
ensuring all Government schemes implemented in good manner with speed
and for the way which they work with dedication.
So this shows the honourable finance minister's positive Recognition and it gets more dimension at the time of present deadlock state of bank employees wage settlement.
She added showing the steps she had taken confirming her concern towards the bps stalemate.
She revealed ,"
Today I had a meeting with newly appointed SBI Chairman Dinesh Kumar Khara.
One of the questions that I asked
He may or may not be directly involved into it but as a big brother among all the banks,
He should be talking to IBA to sort out issues related with bank employees,
their pension, family pension and
pensions of those who retired long time ago, whose pension does not commensurate with the pension of equal rank.
So, that is something I am putting all my energy to make sure."
Friends.. we observe the statement of finance minister with keen attention.
Madam had said that
" she is putting all her energy to make sure"
that means to sort out pension issues .. especially to make the pension of those retired long time ago to commensurate with the pension of equal rank."
She had opened up her actions as follows.
"I am communicating with IBA.
Secretary (Banking) is also working with them.
I told Dinesh Khara that this is something, I am very keen,
I want bank employees to be given their dues.
A lot of pensioners are waiting for very long time.
Yesterday I had meeting with Rajkiran Rai, ( chairman) of IBA. I spoke to him too.
We need bank employees to be attended too, particularly their families and the pension of retired employees too.
Pension matter, staff welfare, these are the issues on which I am definitely concerned."
I have put each point separately so that it won't miss our attention.
Other issues ie Amalgamation and disinvestment on which also she has made the stand of the govt very clear.
Though in this context of updation of bank ..
amalagation and disinvestment is not relevant..I have added a short note on it not for information sake only but to make us aware of the future change of bank environments and the hold of banking management by its board of big investors.
Adopting to new environment may become somewhat more difficult for the working force
Updation of pension and upgradation of family pension itself may encourage many to prefer vrs for which in sbi, informations have been already released.
( For information about the line of thinking of finance minstry
1) Amalgamation :
Everything related with the last amalgamation is to be sorted out.
2) Disinvestment:
Regarding Retail participation of bank shares by public,
Banks are being nudged by finance minister, as openly spelt out and admitted in that interview,
to go to the market to raise funds,
to go out to shed some equity and
to let public have some shares in the banks)
As a pensioner we will be at rest and more relieved of our long pending demand of updation of pension on reading our finance ministers' interview to business line newspaper on 30th Oct 2020.
Definitely it will be a credit to the stand of the government and we profusely thank for it to our honourable finance minister Smt Nirmala Seetharamanji for clarifying it thro the interview.
M.Somasundaram Kovilpatti
Bank Pensioners' Action Forum
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