The high court on Thursday
directed the State Bank of
Mysore (SBM) to pay Rs.10,000
each to 129 petitioners and
former employees who had
filed an appeal to quash circulars
that attempted to deprive
them of five years in
service.
The appeals challenged the
judgment pronounced on
March 8, 2011, concerning the
claim of employees of various
banks who had opted voluntary
retirement scheme
(VRS). Each employee had
completed 20 years in service.
The employees opted for
retirement under the scheme
and had been given benefits
except those under Section
29(5) of pension regulations,
1995, which deals with the
addition of five years of service
by an employee.
The banks’ permanent employees,
who have put in 15
years of service or completed
40 years of age on the date
the scheme came into being,
are eligible for VRS.
An employee whose application
for VRS is accepted
will be paid an amount equal
to 60 days of salary for each
completed year of service. As
per the regulations, the employees
had sought to add
five more years while calculating
the length of their service.
The HC directed that
since pension regulations,
1995, have not been amended
by SBM, it has to pay
`10,000 to each petitioner
Source - DNA Bangalore
In the wake of the speaking judgment pronounced by the Division Bench headed by the Chief Justice of Hon'ble High Court of Judicature, Karnataka, I have my own strong apprehensions that the affected Bankers would certainly knock the doors of The Supreme Court for an appeal as a matter of strategy for prolonging further. In which event, it is better to file a caviet to set at naught their move at SLP level itself.
ReplyDeleteIt is true that the bank may approach Supreme Court as was done in respect of several cases earlier. It is doubtful whether obtaining caviet will be successful
ReplyDeleteNice Judgement. Now AIBRF vide their recent resolution demanding payment of enhanced Gratuity of Rs.10 lakhs to retired bankers from 01.11.2007,nearly two years after
ReplyDeletestatutory amendment by GOVT in May 2010. Will AIBEA/AIBOC include this at least in 10th BPS demands?.
I have become member of rbewa google group in feb 2012 by paying Rs.10,000/- whether I have to do anyother thing when judgement will come.
ReplyDeleteSatish Vaze
sat_vaze@rediffmail.com
Finance Minister wants retrospective amendment of I.T Act to increase Tax collections. But when it comes to increase of Gratuity Limit he preferred to make it prospective from 24.05.2010.Why retired members and Unions were not able to act like Mamata during the Current Budget Session.
ReplyDeleteGiving is not in the history of finance ministers particularly to bank employees. I have been seeing Finance Ministers since I joined bank in 1977 and from that day to till date bank employees are always getting step motherly treatment.Our bank unions also instead of deciding a matter once for all, are dragging for years together and finally agree to pea nuts settlements at the end.Of course, we are not aware of hidden facts if any.
ReplyDelete