Pension updation of Retirees of Public Sector Banks (PSBs)

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
LOK SABHA
UNSTARRED QUESTION No. 1828
ANSWERED ON 13th FEBRUARY, 2023 / MAGHA 24, 1944 (SAKA)

PENSION UPDATION OF RETIREES OF PSBs

1828. SHRI RAVIKUMAR D.:
Will the Minister of FINANCE be pleased to state:

(a) whether the Government has taken any step to resolve the pre-November, 2002 retirees issue of Public Sector Banks (PSBs) by restoring payment of full neutralisation of Dearness Allowance, if so, the details thereof;

(b) the present position of the Ministry over the issue of pension updation of the PSBs; and

(c) whether the committee set up to look into the matter of pension updation of PSBs has submitted its report and if so, the details thereof?

ANSWER

MINISTER OF STATE IN THE MINISTRY OF FINANCE
(DR. BHAGWAT KARAD)

(a): Bank employees and retirees are being paid Dearness Allowance (DA) and Dearness Relief (DR) respectively, settled through Bipartite Settlement arrived at between bank employees’ unions/associations and the Indian Banks’ Association (IBA), which negotiates on behalf of the participating banks. IBA has informed that unions/associations have demanded the neutralization of DA for Pre-November, 2002 retirees. However, no decision has been taken in the Bipartite Settlement regarding the same.

(b) and (c): Pension, a funded scheme, was also introduced in nationalised banks through Bipartite Settlement. The Boards of the respective nationalised banks accordingly made Employees’ Pension regulations in exercise of their powers under section 19 of the Banking Companies (acquisition and Transfer of Undertakings) Act, 1970/1980. These regulations do not have provision for revision of pension. However, DA/DR is being increased from time to time i.e. on quarterly/half yearly basis.

IBA has further informed that the committee set up to look into the matter of pension updation of PSBs has submitted its report to the Hon`ble Supreme Court and the matter is still subjudice.

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22 NOV 2018

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the extension of the term of the Commission to examine the issue of Sub-categorization of Other Backward Classes in the Central List for six months beyond 30th November, 2018 and till 31st May 2019.

The Commission has held extensive meetings with the stake holders including the State Governments, the State Backward Classes Commissions, various community associations and general public belonging to various Backward Classes and Commissions and also obtained records, caste-wise, of OBCs admitted in higher educational institution as well as similar caste-wise data of recruits in Central Departments, Central Public Sector Undertakings, Public Sector Banks & Financial Institutions.

Based on the emanating information from the data as processed and analyzed, the Commission has expressed that a round of discussion with the States and their Backward Classes Commission was required before finalizing the sub-categorized lists and the Report.

PIB

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D.O.No. 4/2/2/15/IR
Girish Chandra Murmu, IAS .
Additional Secretary

Government of India
Ministry of Finance
Department of Financial Services
Jeevan Deep Building, 3rd Floor,
10, Parliament Street,
New Delhi-110 001

March 21, 2017.

Dear MD/CEO

Kindly refer to this Department’s letter dated 12.01.2016, 24.08.2016, 21.10.2016 and 21.12.2016 addressed to all Public Sector Banks ( PSBs) whereby PSBs were requested to initiate the steps taken for smooth conclusion of next wage revision of the employee within time frame. However, it is seen that several Banks are yet to proceed in the matter.

2. May I request PSBs to kindly look into the matter and to conclude the next wage revision prior to the effective date i.e. 01.11.2017

With regards,
Yours sincerely,
(G.C. Murmu)

The Chief Executives of all Public Sector Banks

Authority: http://financialservices.gov.in/

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New Delhi: Keen to close pay negotiations in public sector banks by November 1, 2017, the Finance Ministry has asked the lenders to present status report on salary hike talks with their employee unions.

The chief executives of PSBs have been asked to intimate the ministry about “the present status/action taken by them so as to conclude the negotiations/next wage settlement by the effective date i.e November 1, 2017 positively”.

In January, the PSBs were asked to initiate the process of negotiations with the employees and conclude it prior to the effective date of November 1, 2017.

The communication to PSBs regarding wages comes in the backdrop of banks union threatening to join the strike called by trade unions on September 2 to protest against what they call anti-people policies of the government.

The wage revision of public sector bank employees has been due since November 2012. In the last wage negotiation between PSU banks employee unions and bank management, Indian Banks’ Association (IBA) had settled at 15 per cent hike.

There are 27 public sector banks in the country with a combined employee strength of about eight lakh. There are about 50,000 branches of these banks across the country.

Recently, RBI Governor Raghuram Rajan had said all public sector banks tend to over-pay at the bottom but under-pay their top executives, even as he rued, albeit jokingly, himself being “under-paid”.

PTI

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AIBOA  Strike on 12th and 13th July 2016

AIBEA-AIBOA decide to plunge into immediate action to oppose attempts to denigrate Public Sector Banks and to protest against proposed merger and consolidation of Banks with a view to divert the people’s attention from the Himalayan bad loans in Banks .

In the name of banking sector reforms, the attempt is to privatise the Banks and hand them over to the private corporates to enable them to further loot the precious savings of the people.

Already our Banks are bleeding due to alarming increase in bad loans, thanks to the deliberate default by the corporates and big business enterprises. Instead of taking tough measures to book the culprits and recover the loans, efforts are taken to hand over the banks to very same defaulters.

It is very clear that all their talks of banking reforms and proposals of merger and consolidation are only a ploy and game plan to divert the attention of the people from the massive bad loans in the Banks.

Our country needs strong public sector banks and not necessarily big banks or global-sized banks. Our country needs banking expansion and not consolidation of banks and shrinkage of banking services to people.

The focus should be the alarming increase in bad loans to the tune of about R. 13 lac crores. The efforts should be to recover the money by taking stringent measures and not hush it up through provisions, write-offs, CDRs and SDRs.

If the loans have been sanctioned wrongly, action should be taken on the concerned Executives. If the borrower has cheated the Banks, criminal action should be taken against the defaulter.

Providing for the bad loans, clean-up of Balance Sheet and making the Banks to incur the losses is not the solution to the problem. It is obvious, all these are only diversionary tactics to escape from the accountability for the huge bad loans.

Kingfisher Mallya is only the tip of the iceberg. There are many more sharks in the ocean of bad loans in the Banks. Why the list of defaulters is not being published by them? Why criminal action is not taken on the willful corporate defaulters? Why all velvet treatment to them? Why the attempt to convert the bad loans as equity investment in these defaulter companies? Is it the corporate governance and good governance policy of the Government ?

In IDBI Bank, 10 years ago, about Rs.9000 crores of bad loans were taken out of their books. Now another Rs. 19,000 crores is the bad loan. Instead taking action to recover these bad loans, the Government wants to privatise and sell the Bank to the very same private sector which is responsible for these huge loan default in IDBI Bank.

Hence AIBEA and AIBOA have decided to plunge into immediate action to oppose attempts to denigrate Public Sector Banks and protest against proposed merger and consolidation of Banks with a view to divert the people’s attention from the Himalayan bad loans in Banks.

It is time to move, time to fight. We exhort all our units and members to carry out the programme successfully and make the strikes a total success.

With greetings,
Yours comradely,
S. NAGARAJAN
GENERAL SECRETARY
AIBOA

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UNSTARRED ADMITTED QUESTION NO. 2161

RESERVATION IN PROMOTION IN PSBs.

QUESTION 2161. SHRI BALWINDER SINGH BHUNDER:

Will the Minister of FINANCE be pleased to state:-

(a):   whether it is a fact that Public Sector Banks (PSBs) give reservation in promotion up to DGM level and there is hardly any SC/ST officer above DGM level;

(b):  if so, the details, thereof, bank-wise and the details of SC/ST Officers above DGM level, bank-wise;

(c):    whether any training is provided to SC/ST  Officers at DGM  level so that they can share higher responsibility and be promoted to next level; and

(d):   the overall plan for growth of persons from SC/ST category in PSBs bank-wise?

ANSWER

THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI JAYANT SINHA)

(a)&(b): No, Sir. At present Public Sector Banks (PSBs) give reservation in promotion up to Scale-I only. There is no reservation in promotion within the officers cadre. A statement of SC/ST officers above DGM level in at annexed.

(c)&(d): Banks are periodically providing in-house /external training to all officers including SC/ST officers above DGM level to shoulder higher responsibilities. Department of Financial Services has been advising all PSBs to provide effective pre-promotion and in-service training to SC/ST employees. Instructions have also been issued to nominate a suitable number of SC/ST officers for foreign training programmes.

Source: ENGLISH VERSION HINDI_VERSION

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 GOVERNMENT OF INDIA
MINISTRY OF FINANCE
RAJYA SABHA

QUESTION NO 896

ANSWERED ON 03.03.2015

Recruitment process in PSBs

896 Shri Balwinder Singh Bhunder
Will the Minister of FINANCE be pleased to satate :-

(a) whether it is a fact that by 2020 around 35 percent of Officers/employees of Public Sector Banks (PSBs) would retire from service;

(b) if so, what preparations have been done by Bank; bank-wise to timely notify the vacancies and by IBPS to speed up recruitment process with a view to timely fill the vacancies;

(c) whether the Department of Financial Services (DFS) has issued any direction in this regards; and

(d) if so, the details thereof?

ANSWER

The Minister of State in the Ministry of Finance (Shri Jayant Sinha)

(a) The percentage of officers/employees that would retire by the year 2020 differ in Public Sector Banks (PSBs). On an average, about 25% of officers and employees would retire by the year 2020 in PSBs.

(b) PSBs assess/anticipate vacancies including retirements annually and take necessary action to fill the same including intimating their requirement to Institute of Banking Personnel Selection(IBPS) for making allotment well in advance.

(c) & (d): Yes, Sir. Government has granted managerial autonomy to the PSBs in the matters related to Human Resource (HR) including recruitment. Government has also advised all PSBs to prepare a succession plan.

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Compassionate appointment is available in Public Sector Banks (PSBs) based on the “Scheme for appointment of dependents of deceased employees on compassionate grounds” as last modified in 2007.

The Scheme provides for compassionate appointment in the following cases :-

i) when an employee dies while performing his/her official duty as a result of violence, terrorism, robbery or dacoity; or

ii) when an employee dies within five years of his/her first appointment or before reaching the age of 30 years, whichever is later, leaving a dependent spouse and/or minor children.

The above information was submitted in a written reply to a question in Parliament on 30.8.2013 by the Minister of State for Finance Shri.Namo Narain Meena.

Source: 90paisa.blogspot.in
[http://90paisa.blogspot.in/2014/01/compassionate-appointments-in-public.html]

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The OM prescribes the following maximum age limit for recruitment of Ex-servicemen in the Public Sector Banks/Financial Institutions:

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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF FINANCIAL SERVICES
JEEVAN DEEP
10, PARLIAMENT STREET.,
NEW DELHI-110 001

F. No.4/1/2012-SCT (B)

Dear,
Please refer to your D.O. No 12(35)1211/D(Res-I) dated 24/04/2012 regarding grievances of ex-servicemen re-employed in Public Sector Banks for fixation of their salary in banks.

2. In this connection, I would like to mention that the Department of Financial Services had circulated instructions/directions/Circulars such as of the DoP&T’s earlier OM No. 3/19/2009-Estt.Pay II dated 8.11.2010 as well as the Ministry of Defence (MOD)’S letter No.1(4)/2007/D(Pen/Policy) dated 09.02.2011 to all Public Sector Banks(PSBs)/Financial Institutions (FIs) and Insurance Companies (ICs) for compliance.

3. The Indian Banks’ Association (IBA) sought clarification from DFS on re-fixation of pay to ex-servicemen re-employed in their Public Sector Banks on or alter 01.01.2006. Based on DoP&Ts O.M. dated 8.11.2010, it was pointed by this Department vide its letter No. 4/1/2010-SCT (B) dated 23.03.2012 that Ex-servicemen re-employed in banks who retired on/or after 01.01.2006 are eligible to pay fixation in banks based on the pay drawn by them at the time of discharge from the Defence Services which would include band pay plus grade pay but it does not include MSP. As it created confusion among banks over uniform implementation of the DoP&T’s Office Memorandum dated 08.11.2010 the circulars war treated as withdrawn.

4. It has therefore been reiterated that DoP&T’s above instructions may be followed in letter and sprit.

With regards,

Yours faithfully,
sd/-
(L.K. Meena)

Source: media.dgrindia.com

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