Indian Banks Retirees' Association Bi-Annual Meeting held
Like individuals and families, even state governments too need financial discipline: Dr Jayaprakash Narayan, Founder of Loksatta
Hyderabad, May 26, 2022: The Indian Banks Retirees' Association - AP and Telangana's 12th Bi-Annual Meeting was held on Thursday in the city at Sundarayya Vignana Kendra, Baghlingampally.
Three hundred retirees of Indian Bank formed a Human Chain at Sudarayya Park to highlight their long-standing demand for pension updates.
In a rare gesture, the Indian Banks Retirees' Association also plans to felicitate "Funeral Workers" on the occasion in recognition of their yeoman services during the first and second spell of the corona. It was those who provided the last rites of the people even though their family members left them out of fear. These workers organized and managed the details of a ceremony honouring a deceased person. They performed funeral rites of hundreds of dead bodies. They have risked their life. Shanthi Kumar, In-charge of Bansilalpet Crematorium and three workers Kashi, Baba and Sreenu are invited to the meeting. They will be felicitated with a shawl and also a small token of financial help (in the form of cash) will also be extended
Later in the program, speaking on the occasion Dr Jayaprakash Narayan, Founder of Loksatta said financial discipline is not just required for individuals and families but also for state and central governments. Several states are borrowing money left-right-centre.
According to some sections of the constitution, the states have to take the consent of the Government of India to raise any loan.
Then the centre increased the state borrowing limit to 5% of the Gross State Domestic Product or GSDP from 3%. The election freebies are not a good practice. If it is continued, who knows, we may witness a situation like what Sri Lanka is going through now, he said.
Speaking further he found fault with the Central Government’s decision to ban the export of wheat. “There has been a significant demand for wheat from India in the global market. India has surplus wheat production and farmers got a very good opportunity to export and earn a little more money. But, the central government with a single stroke has now banned the exports. Unfortunately, nobody had protested this decision. The Indian farmers have lost an opportunity of earning about 80,000 crore rupees in the form of export, Dr Jayaprakash Narayan said.
Speaking about UPI(Unified Payments Interface) and its record 540crore transaction in March this year worth INR 9.60 Trillion. This is good. But, we need to be doubly careful about it.
These transactions happen without the interface or connection with the bank. This may lead to scams and cheating in future. The banks need to be interfaced in these transactions Dr Jayaprakash Narayan opined
S. M Deshpande, President of All India Bank Retirees' Federation who was the Chief Guest said Updation of Pension will be a reality very soon. He asked them to keep patience. We have been fighting for it for so many years. Now the time has come and we expect a positive decision on the long-pending demand he said.
Before the meeting, a Human Chain of 300 plus Retirees was held at the park near Sundarayya Vignana Kendram to highlight their long-pending demand, the updation of pension. Deshpande appreciated their novel idea of the Human Chain to highlight their long-pending demand. The bank retirees have been hopeful of getting some favourable orders for their pension updation, which is lingering for three decades.
The retirees inform that the updating pension should be on the lines of the same given in the Reserve Bank Pension Scheme. Though the Reserve Bank of India has permitted the updation of pensions for their employees, the bank pensioners have been drawing their pensions without any revision for the past three decades. Even the LIC also permitted the updation of pensions for their employees. And why not other bank employees! - the retirees' question. And they wanted it to be acted upon immediately. The past retirees are drawing a pittance as a pension. Persons retired as General Managers, in the past, are drawing less pension than a clerk who is retiring, now, on account of non-revision of pension, the retirees felt.
Speaking on the occasion, KS Sudhakara Rao, the Field General Manager of Indian Bank, who is in charge of both Telugu states supported their felt need for updation of pension. He also highlighted that the bank has a separate cell to look into the grievances of their retired employees. The cell needs to strengthen, he said. He said the senior citizen's ratio in the population is on the rise. It was 5.6% in 1961. Now 10. 1% of our population is senior citizens and their ratio is expected o reach 13.1% by the year 2030. He highlighted various opportunities such as involving them in concurrent audit and training opportunities etc, Indian bank is creating to utilize the services of their retired employees
Muralidhar Rao, Chairman of Indian Bank Retirees Association Telangana and AP and Telangana Bank Retirees Federation said that they would not rest until they achieve their demands of pension updation.
Other office bearers such as A. Rajendra Prasad, President of Telangana Bank Retirees Federation; Sri R. Laxman Rao, Telangana General Secretary and Sri A Yella Rao, Andhra Pradesh General Secretary, Veera Reddy, Mastan, Mullapudi Venkata Ramana etc participated.
Over 500 members attended the meeting. The meeting is held once every two years. The chapter has 1200 members. The average age of the members is 68 years. It was founded in the year 2001.
All India Bank Retirees Federation is a National Body comprising all the Banks and has 2.5 lakh people as its members.
The Indian Banks' Association has not recognized any of these Retirees' Association and there is nobody to represent them in negotiations. Employees' Unions represent only working staff and they have their issues to discuss and settle. Retirees want that they too must be involved in negotiations.