Thursday, June 2, 2011

AIBOC letter to IBA regarding pension to officers retired under VRS scheme of bank or retired under exit option scheme by subsidiary banks

We reproduce below the letter by Shri G. D. Nadaf, General Secretary AIBOC


No.1452/229/11                                                   30.05.2011

Shri M.D.Mallya, 
The Indian Banks’ Association,
World Trade Centre Complex,
Centre 1, 6th Floor, Cuffe Parade, 
MUMBAI – 400 005.

Dear Sir,


         We draw your kind attention to our letter No. 1452/156/11 dated 09.03.2011 wherein we have made out a case for granting another option to join the Pension Scheme to those officers who sought Voluntary Retirement from service of the Bank as provided in OSR 19(1) to 19(7) and who did not opt for pension earlier due to various reasons. As you have not responded positively to our earlier letters i.e., Letter No. 1452/302/10 dated 28.08.2010 & Letter No.1452/482/10 dated 29.12.2010, we were compelled to invoke the provisions under clause No.14 of the Joint Note signed by IBA and AIBOC and other officers’ organisations on 27.04.2010. But to our chagrin neither you have furnished us your points of view on the issue as to how and why the above category of officers have been denied the opportunity to join the Pension Scheme nor have arranged for a Meeting to resolve the issue in an amicable manner to the satisfaction of all concerned.

2.      While reiterating our demand for considering another option to join the Pension Scheme to all the Officer employees who have retired under “Voluntary Retirement Scheme” or the ‘Exit Scheme” in Associate Banks duly complying with the Provisions of Officers’ Service Regulations, we once again request you to arrange for a Meeting to sort out the issue. As denial of another option for pension to this category of officers is totally arbitrary, ultra vires the Officers’ service Regulations, illegal and unjustified, in all fairness and to meet the ends of justice. We once again request you to consider the issue positively in favour of the affected officers. Interpretation of rules should be to produce just results and not to deny the legitimate entitlement of the above category of Officers.

3.      We have the confidence that you will initiate appropriate steps to correct the error crept-in and render justice to all the affected officer employees whose number in the entire Banking Industry is insignificantly small.

4.      A word in reply will be highly appreciated.

Thanking you,
                                                                 Yours faithfully



                                                       GENERAL SECRETARY

 Click on the link below to view full circular.
 AIBOC  Circular


  1. Hard Nuts don’t crack by words & letters.
    They need tough hammering.
    Serve an ultimatum.
    You may expect the unexpected !

  2. Sri.G.D.NADAF Jee,

    Just life AIBOC has completely forgotten bac dating the Icrease in Gratuity Limit issue, IBA also forgotten certain issues. Hard nuts dont crack by words&letters.Who is hammering whom? Poor mebers areat recelving the blows;

  3. Please include PRE DATING OF REVISED GRATUITY IMPLEMENTATION FROM 24/05/2010 TO 01/01/2006 also in the agenda for the proposed strike on 07/07/2011.The pensioners of this block are only a few thousands and many banks have made provisions already.You will understand that a great injustice has been done to the bank employees in this regard.Bank employees are not in anyway inferior or second to GOVT.employees and they should be treated accordingly.Please take up the matter suitably.

  4. Dear Nadaf Sir,

    In your letter dt.30-05-2011 to IBA on the Second Pension Option to Officers in Subsidiary Banks who exited under VRS etc, you have not mentioned the Officers in other Public Sector Banks who have resigned after putting a service of 20 to 35 years.These officers also exited Under 20(2) of OSR with the permission of the respective Banks. Hope you have written a separate letter on this aspect. Thanks for your persuasion. Raju

  5. New propoganda by AIBOC, advertise themselves. Talk positive about themseleves. We Bankers are becoming hypochrites, talk and talk and on groud Just talk so much that people start believing it. There is no leadership in Indian Banking today.Let the leaders take p the gratuity issue first.

  6. Dear Sri Nadaf,

    Please provide an update on action to help employees who 'resigned' after 20 + years of service from Public Sector banks to be made eligible for another option for pension.

  7. Dear Sri Nadaf

    Please can you give us some information about what is being done for payment of enhanced gratuity to those who retd from sbi between 01/11/2007 to 23/05/2010. At least date of effect should have been from date of revision.