You are here: Home » Opinion » Letters
Business Standard

United fight for pension

Managements of banks and the RBI, at the behest of the govt, have denied updated pension

Business Standard 

Government and family pensioners have been getting updated pension while current employees are getting salaries, according to since January 1996.

were introduced by the Reserve Bank of India, the National Bank for Agriculture and Rural Development, banks, LIC and GIC in January 1986 in accordance with central government pension rules with sanction from Parliament. However, managements of banks and the RBI, at the behest of the government, have denied updated pension to these pensioners.

LIC pensioners have been fighting for updated pension and 100 per cent neutralisation in dearness relief for pre-August 1997 pensioners in high courts and the Supreme Court for the last two decades. Cases filed by the and bank pensioners, too, are pending in the courts for long. Meanwhile, hundreds of pensioners have died without getting justice. 

Unfortunately, the government and the managements do not take cognisance of the genuine demands of citizens and workers unless there are large-scale protests. The pensions of State Bank of India employees were improved when then went on strike for six days. The government sanctioned One Rank, One Pension (OROP) after defence personnel surrendered their gallantry medals and went on hunger strike at Jantar Mantar in New Delhi. 

The government is unlikely to intervene and courts might take several years to decide the pending cases. Hence, it is incumbent on the employees and pensioners of the RBI, LIC and others to fight together. They must display their strength by holding protests and dharnas in Mumbai, Chennai, Kolkata, New Delhi and other cities.

Ramanath Nakhate   Mumbai


can be mailed, faxed or e-mailed to: 
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg 
New Delhi 110 002 
Fax: (011) 23720201  •  E-mail: letters@bsmail.in
All must have a postal address and telephone number

First Published: Sun, July 23 2017. 22:30 IST
RECOMMENDED FOR YOU