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4/18/2015

CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers

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CourtOnceAgainSlapsUnionBankandIBAforFramingA

PolicyDenying2ndPensionOptiontoCompulsoryRetired

Bankers

by

RajeshGoyal

Bankers by RajeshGoyal Like Share 62peoplelikethis. In one of the latest judgments
Bankers by RajeshGoyal Like Share 62peoplelikethis. In one of the latest judgments
Bankers by RajeshGoyal Like Share 62peoplelikethis. In one of the latest judgments

Like Share 62peoplelikethis.

In one of the latest judgments in the case of D.Kalaichelvan (Petitioner)vs.UnionBankofIndia(Respondents),MadrasHigh CourthasonceagainslappedthetopmanagementofUnionBankof

IndiaandIBAforframingpoliciesincontraventionofthe

PensionRegulations1995,whicharestatutoryinnature.

ThisisablotontheHRpoliciesofbankswhicharemainlyguidedby themisinformedIBAtopbrass,whotakeanti­employeestandjusttopleasetheirbosses,so

thattheycanenjoytheluxuriouslifeevenafterretirementattheageof60years,fromthe

bankingservice.

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Inthepastalsowehaveexposedtheanti­employeeattitudeofIBAonnumberofoccasions wheretheyhavegivenwrongsuggestionstoBanksandaskedthetopmanagementtodragthe casesuptoSupremeCourt,thoughtheywerewellawarethattheirargumentsarefaultyand willnotstandthescrutinyoftheCourts. Theirattitudehasbeentodragtheseniorcitizens totheextentwherenumberofthemdieduringtheirfightsintheCourts.

TheworstpartofthiswholefightistheattitudeoftheleadersofUFBU,whohavenever

supportedtheseniorcitizenswhohavemeagerresourcestofighttheircasesintheCourts.

4/18/2015

CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers

RatherUFBUleadershaveindirectlysupportedthebankmanagementandIBAinsuch cases. Recently,oneoftheex­AIBOCofficialhasgonetoCourtagainsttheGoI’sdecisionto appointMDsbyanopencompetitionfromprivateandpublicsectorofficials. Whyhenever

botheredaboutthefateoftheretiredbankerswhoarerunningfrompillartoposttoget2nd

PensionOptionandfor100%DAneutralization. Thereisstrongperceptionamongthe bankersthatthisex­AIBOCofficialhadfiledPILformotivatedpersonalissues. Lotofpeople wouldhavecometosupporthimeveninthisfight,ifhehadeverfoughtforbankersafterthe lastBPS.Now,everybodyistreatingthePILbyhimtobeonlymotivatedtogetafootholdas hehasbeenuprootedbyanothersetofleadersinPNB. Forlast5years,noUFBUleaderhas filedorfoughtanyCourtcaseontheobnoxiousclausesintroducedbyIBAinitscircularof 2ndPensionoption. InspiteofalltheCourtjudgmentsfavouringtheretiredbankers, neitherUFBUleadersnorIBAtopbrasshasfeltashamedfordoinginjusticetosenior citizen.

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Coming back to the present case, the Court in its verdict has concludedanddirectedtheBankthefollowing:­

“Consequentlydirecttherespondenttograntpensionto thepetitionerintermsofUnionBankofIndia(Employees) Pension Regulation, 1995 from 27.11.2009 along with

arrearsandinterest@18%p.a.”

IwasstunnedtoreadtheaboveparaasthejudgmentclearlyshowshowtheCourtwas anguishedwiththestandoftheBank(whichisbasedontheoverallpolicydirectionsgivenby IBA)indenyingPENSION. Thisisclearfromallowingthepetitionerthepensionfrom 27.11.2009(thatiswithretrospectiveeffect)andpayhimtheinterestattherateof18%p.a. I haverarelyseenthejudgementswhereCourtpenaliesthebankstopayinterest@18%. This isakindofpenalinterestandseemstohavebeengrantedasCourtmusthavebeenvery angrywiththeattitudeofBank/IBApolicies,whichtheyframekeepinginmindtheirown whimsandfancies. WhoknowsstillIBA/UnionBankmaygotoSupremeCourttosatisfy theirpersonalegosandteachingalessontohalfdeadseniorcitizens.

InanarticleinMarch2015, undertheheading“UFBULeaders NeedstoDiscuss Matters RelatingtoRetireesWithRetiredBankerGroups”,Ihaveclearlymentionedasfollows:­

“Theabovedemands (i.e.demandof2ndpensionoptiontoleftoverbankers,100%DA neutralization)areabsolutelygenuineandhaslegalsanctityandneedstobeimplemented withoutfail. IfUFBUstickstoitsguns,thereisnoreasonthatIBAwillnotagreeforthese twodemands. Thus,withminimalefforts,UFBUcantakecreditforgettingtheabovetwo demandsmetbyIBA. IncaseIBArefusestoconcedeanyofthesedemands, UFBUshould clearlymentionthatitreservesitrighttogotoCourtonbehalfoftheretireesasitperceives thatdenialofthesetwodemandsisillegal”.

However,neitherIBAnorUFBUleadersseemstobeinterestedtohelpthepensioners. Now onlyCourtshavecometotherescueofretiredbankers,andnowtheywillhavenomoral groundeventotakecreditevenifthesameareagreedbyIBA. Remember,nowUFBU

hasnotonlytofight2ndpensionoptionforleftoverwithretrospectiveeffecti.e.

November2009,butalsowithaninterestattherateof18%onarrears. IfUFBU

agreeswithlessthanthis,itwillbeviolativeoftheCourtguidelinesandisaopentreachery withtheretiredleftoverbankers. NowUFBUhasnoauthoritytoenterintoanagreement thatabrogatestheserightsoftheleftoverpensioners. IfIBAinsistsonanylowerrateof interest,UFBUmustmakeitclearthatithastherighttogotoCourtandwillnotbebinding bytheagreementtothisextent.Ithink,IBAandBanksmustsharethisadditionalburdenfor theharassmenttheyhaveforcedonthepoorretiredbankers,someofwhommusthave alreadydiedinthehopethattheywillgetpension.

4/18/2015

CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers

For those people who are interested to know exactly the reasons for allowing this retrospectivepensiontocompulsoryretiredbankers,Iamgivingbelowthequotesfromthe judgment,whichareofgreatimportance:­

“UnionBankofIndiaissuedcircularno.5690dated27August2010.TheCircularhastobe

readinthelightofthePensionRegulations,1995.Thecircularisonlyforthepurposeof

givinganotheroptiontojointhescheme.Thepensionschemeremainedthesameviz.,is

noneotherthanUnionBankofIndia(Employees)PensionRegulations,1995,whichprovides

forcompulsoryretirementpension.

EventhoughClause7ofthecircularrestrictedthebenefitsofthosewhoretiredvoluntarilyin

termsofregulation19,thefactremainsthatpensionregulationhasnotbeenamended

correspondingly.Therefore,asontoday,thereisavalidregulationprovidingforpensionto

thecompulsoryretirees.

IncasetheBankisoftheviewthatpensionshouldberestrictedtothosewhohaveretired

voluntarily,theyshouldmakecorrespondingamendmenttothepensionregulations.

ThePensionRegulations,1995,isstatutoryinnature.Thecircularwasissuedonlypursuant

tothesaidregulation.Thecircularcannotoverridetheprovisionsoftheregulations.Itwas

onlytogiveonemoreoptiontotheemployees,thecircularwasissued.Thecircularcannot

thereforerestrictthebenefitsofoptiontoasetofemployeesnotwithstandingexistenceofthe

regulationwhichprovidesforpensioneventocompulsorilyretiredemployees.

Thepetitionerisentitledtocertainservicebenefitsonaccountofhiscompulsoryretirement.

Infact,intheearlierroundoflitigation,thisCourtmadeitveryclearthatthe petitioner should not lose benefits which accrued to him for the service renderedbyhim,tillthedateofcompulsoryretirement.Suchbeingthecase,the

BankwasnotcorrectinincorporatingClause7forthepurposeofdenyingbenefitsto

compulsorilyretiredemployees.IamthereforeoftheviewthatClause7shouldbequashed

insofarasitrestrictsoptiontojointhepensionschemebycompulsorilyretiredemployees”.

AreUFBUleadersnowlisteningthevoiceofretiredbankers?

TheymustensurethatIBAnowgivestheduesharetoretired

bankers.

P.S: WearegratefultoMrRKPathakfromPune,whokeepsusupdatedonthisissue. He hasinformedthatwithaviewtofoiltheattemptofUnionBankofIndiaoffilingWAagainst thesaidorderbeforeDivisionBenchMadrasHighCourt,hehadthroughMr.B.G.Raithatha, GeneralSecretaryofUnionBankRetiredEmployeesAssociationandtherecounterpartin

4/18/2015

CourtOnceAgainSlapsUnionBankandIBAforFramingAPolicyDenying2ndPensionOptiontoCompulsoryRetiredBankers

Tamilnadu&Mr.T.VinayakestablishedthecontactwithPetitionerandadvisedtofileCaveat beforetheDivisionBenchofMadrasHighCourt,beforeBankfilesWAandpleadsforstayto

theorderdated01/04/2015.

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