Is Insertion of the words "Superannuation" in the Joint Note by IBA Amounts To Fraud on Bankers ? Now IBA Does Not Even Bother To Acknowledge or Respond to Letters by Former Chairman & CEO of Sangli Bank

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We have been highlighting here the apathy of IBA from time to time and the attitude towards the bankers, specially the senior / retired bankers. We have been thinking that IBA does not respond to general bankers as it thinks that officers in Scale I, II or III, IV etc are peanuts and do not deserve to be responded as there are thousands of such officers in the banking industry. The worst part is that IBA itself kept it outside the preview of RTI and people are fighting case to bring IBA under RTI so that its actions can be transparent.

The recent trends indicate that now IBA does not care even for the letters sent by former Chairman & CEO of Sangli Bank Ltd. This has been reported by Mr S. Ramachandran himself in a mail received by us. We are publishing two letters sent by Mr Ramachandran in the month of April, 2012 itself which remain unresponded and even no acknowledgement is sent. We have today also uploaded a letter sent by Mr G K Khurana, wherein at least PM office acknowledge the letter sent by Mr Khurana. Now it appears IBA considers itself even higher authority than PM office and does not care for the letters sent to them. We hope, IBA will learn from the PM Office and will respond positively for the queries raised by bankers, specially senior bankers, who do not talk non sense, but always talk logically.

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In one of the letters S. Ramachandran, has written " In spite of the above clear cut instructions from the Finance Ministry I am pained to inform that IBA in its circular NO CIR/HR&IR/G2/665/90/2010-11/999 dated 10^th August 2010 in paragraph no13 in 3rd sentence has added the word “on superannuation” after retirement which is not mentioned in the joint note dated 27-4-2010 . The joint note on page no 3 under para no (3) (a) states that Officers who were in the service of the bank prior to 29^th September 1995 in the case of Nationalised Banks and retired after that date and prior to the date of this note. I therefore feel the addition of the words ON SUPERANNUATION is unethical and misrepresentation of facts AND FRAUD COMMITTED ON THE VRS OPTEES just to deny the 2^nd pension option to VRS optees under officers service regulations 1979" .

We have taken up the above issue about two years back also, but no union leader has put up the way Mr Ramchandran has mentioned in his letter. We hope, union leaders will learn from Mr Ramchandran and expose IBA's intentions. By inserting one word "Superannuation" it has been able to deny pension option to thousands of bankers who are now running from pillar to post and spending lakhs of rupees from their life time savings to file cases in the Courts. Now Courts have started giving correct and employee favourable interpretation. We hope Courts will be able to see through the intentions of IBA and penalise IBA and GoI officers for such blatant actions.

We request bankers to Download the letters sent by Mr S Ramachandran (Click Here to Download these letters) to IBA and take up the issue with union leaders for follow up with IBA. If this type of behavior of IBA is not checked, there will be bigger frauds in the Xth Bipartite Settlement and more and more bankers will suffer.