Pensionary benefits to employees who have resigned after completing 20 years of qualifying service -

Recently, the Hon’ble High Court of Karnataka at Bangalore, in a landmark Judgement in the case of WP No. 24158 – 24160/2011, Vijaya Bank Vs. Sri.C.Narasimhappa, have ordered that the petitioners, who resigned from service of the Bank, are eligible for pensionary benefits as they have completed the minimum qualifying service of 20 or more years of service, though they have resigned from service of the Bank. The Hon’ble Court has averred that merely because the petitioners have resigned from service of the Bank, they cannot be denied the pension benefit.’

In this regard AIBOC has taken up matter with IBA , urging upon them to honour the verdict of the Hon’ble High Court and instruct all the Banks to pay pension to all the officers who resigned from the service of the Bank.

 Click here to view AIBOC circular.