Wednesday, June 25, 2014

Is there any hope for Relief for RBI Retirees?


IT IS A MATTER FOR SHOCK why the Retired RBI employees have been taken to task at once both by the Government and RBI Management by DENYING THEM their entitled periodical updation of pension on par with the Central Government pensioners.THIS is a mystery since there has been a tacit understanding to that effect. The EGO of some Government official has played havoc with the life of many a retired employees and their dependants and RBI management has not shown any  guts to sort out the issues and has been dilly dallying for more than a decade. RBI has the money and  the authority to grant the updation but it prefers to remain silent  and dance to the tune of the MoF for reasons unknown to the retirees but  perhaps well known only to  the top management. After the departure of Dr Jalan, two Governors have come and gone and they had very diplomatically side tracked the issue not showing any magnanimity in understanding the genuine concerns of retired officials and their pathetic living conditions for want of adequate pension and medical facilities. How the management and the Government can afford to be so casual, inconsiderate and insensitive to the genuine needs of the retirees when both can financially afford to meet the very genuine, reasonable and fully justifiable demands a pittance in moneatry terms, is what is surprising and is not understood?  THAT Spiralling and Persisting high inflation has not spared RBI retirees is a fact that cannot be wished or washed away.RBI does not depend on the Government for any financial support to meet the rightful needs of its retirees who are in their eighties and many from the lot have left for heavenly abode after having anxiously waited on the promises of the management that their needs would be met.

The Reserve Bank being an institution of international repute and having been a role model for Central banks of many countries in the world and domestic institutions as well cannot and should not forget and ignore the retirees who had toiled and contributed their best professionally and ethically to build its reputation, name,fame and the image it enjoys. The Human Resources   present or past who form the base for any institution or the nation for that matter cannot be so easily bypassed just because of the reason that they have no strength to fight the arrogance of the power. It can’t stand ethically, morally, socially or humanely. Justice demands that justice cannot be further delayed and retirees deserve to be given their dues at the earliest as per the agreement the Management had with the Retired Employees Association way back in 1990.

Dr.T.V.Gopalakrishnan

5 comments:

www.warriersblog.com said...

Here Dr Gopalakrishnan’s words echo the sentiments of a couple of thousands of RBI retirees and their families whose organic links with RBI had been cut due to retirement/death of a serving employee in the early 1990’s or earlier. Majority of them are in their eighties. In one of my personal representations on the subject(NOT AS A BENEFICIARY), I had mentioned to the then Governor Dr Subbarao that making the story of Bank’s handling the pension issue post-1997 public, may affect the reputation of the organisation. It is said, a poem is best enjoyed, if the poet gives expression to one’s feelings exactly in a manner one would have done it, if one had the poet’s vision and ability to express. Dr Gopalakrishnan has written what I would have liked to write, if I had that skill. Hope, this piece pierces through the hard matter which was known in olden days as ‘RED TAPE’!

Unknown said...

If, you have a wish only than you can act. RBI autonomy is on paper. The Gazette of India for 6th and 7th Central Pay Commission has clearly excluded RBI in regards of Pay, Pension and Allowances matters though other regulators are put under the ambit of Central Pay Commissions. It being so, neither the RBI nor the Central Government (share holders) have their wish to bring Pension Updation in RBI by simple amendments in RBI Pension Regulation, 1990.

It requires a Bold step to act at RBI end. RBI Officers are getting less than IAS or Group A officers in regard to Pension even today. All IAS Officers with 30 years service and Group A Officers with 32 years service are having Fixed Basic Pay Rs. 80000 (Basic pension Rs. 40000 + DR), Whereas, All RBI Officers with 30 years or 32 years qualifying service do not get (Basic Pension Rs. 40000 + DR).

RBI should also note that the Gazette of India GSR. 665 (E)Notification Ministry of Personnel, Public Grievances and Pensions (DOPT) dated 19 th September 2008 in Para 10. (b) (1) have stated that the officers in PB-3 Pay upto Rs. 29490 will be in Grade Pay 6600,
Pay between 29491 to 30690 in PB-3 will be in Grade Pay Rs.7600 and officers with Pay Rs. 30691 or above in Pay band -3 / Pay band-4 will be in Grade Pay Rs. 8700.
Rs. 10000 Grade Pay on completion of 16 years service from allotment year i.e.date of recruitment in class I.

Accordingly RBI TO CONSIDER FIXING GRADE PAY FOR ITS OFFICERS.

Human Resource Department to consider this as promotional requirement for RBI, if they are unable to stand the pressure of Finance Ministry in resolving Pension Updation matter for RBI with Government which is expected soon in the matter.
Capt. C B Gupta
M-256

TVG KRISHNAN said...

Thank you for this piece of information which is very useful and handy to pursue further. The intentions of any employer and the Government should be welfare of the human resources and they should be given their dues on time. Delaying is literally killing and the savings of any money by this delaying tactics only speaks of the indifferent attitude and lack of understanding the difficulties of human beings. They cannot show a lot of money in the mirror and keep enticing. In old age in particular, they should get on time what is essntially required to keep their soul and body together. Promises and assurances will not work beyond a limit. This has no acceptance in the market. Hard cash is the only solution.

Unknown said...

While talking of Updation of pension to the RBI Retirees, the TOP MANAGEMENT of RBI is doing nothing except assuring the representatives of Joint Forums met to them on various occasions.This is really a very painful....Top Management has nothing to worry about this situation because before laying down office of Governor/Dy Governor in RBI they have so many offers and ADJUSTMENTS and keep on getting fatty emoluments. MoF officials have not to worry about this because their pension is being updated. REALLY A VERY SORRY STATE OF AFFAIRS FOR THE RBI RETIREES who have made the RBI what it is today.

ಬಾಲು ಕೆಂಚಪ್ಪ said...

It's time that bank aggressively pursue the issue and takes positive decision. There can not be any high decibel appeal than this one. While the despondence of our senior generation is very clear, there is large number of people in the current generation joining the retired fraternity. Their plight will also be equally bad, if not more, considering the high share of non-pensionable component in the total compensation.