- Crisis In Indian Banking Leads to Work Pressure and Driving Employees To Despair, Commit Extreme Steps
- Toxic work culture on the rise in banks
- 5DaysBanking: Bankers Urgently Demand 2 Days Off Per Week
- Banks see over 15% growth in new credit card addition: RBI data
- Banks Transfer ₹37,176 Crore to RBI’s Depositor Education and Awareness Fund in Last 3 Years
- Calls for Bankers’ Safety Amplified After Video of SBI Branch Manager Attack Goes Viral
- Nainital Bank Faces Privatisation Move Amid Staff Protests
- Whistleblowers Expose Nexus Operating from Three Banks
- Preserving RRBs: AIRRBEA Defends Rural Banking Against AIBOC-AIBEA Merger Proposals
- Union Bank of India’s new directive for weekend work at Retail Loan Points (RLPs) has sparked outrage among bankers
NFRRRBS Writes to Chairman of All RRBs on Delayed Pension and Benefits
The National Federation of Retired Regional Rural Bank Staff (NFRRRBS) urges Chairman of all the RRBs to address delays in implementing pension and computer increment benefits for retired RRB employees. The appeal highlights inconsistencies like RRBs failing the timeline, miscalculation in computer increments, pension arrears.
Author: Saurav Kumar
Published: December 19, 2024
The National Federation of Retired RRB Staff (NFRRRBS) has expressed grave concerns over the sluggish pace of implementation of pension schemes and computer increments across Regional Rural Banks (RRBs).
In a letter dated December 18, 2024, addressed to the Chairpersons of all RRBs, the federation highlighted eight critical grievances, urging immediate corrective action.
Core Concerns Highlighted by NFRRRBS
The federation detailed the following key issues affecting the retired RRB staff:
- Inconsistent Implementation: A lack of uniformity in implementing pension regulations across RRBs, even among those sponsored by the same bank, reflecting inadequate guidance from sponsor banks.
- Missed Deadlines: Several RRBs have failed to meet the timelines set by the Department of Financial Services (DFS), with some allegedly submitting inaccurate compliance reports.
- Calculation Errors: Many RRBs have yet to provide accurate calculation sheets for computer increments, pension arrears, and EPF refunds, leading to widespread errors and complaints.
- Unpaid Consequential Benefits: Refixed pensions, arrears, revised gratuity, and leave encashments remain pending in many RRBs despite the extension of computer increments.
- Commutation Issues: Proper recalculation of commutation value, including restoration dates aligned with retirement dates, has been neglected.
- Left-out Beneficiaries: Some banks have yet to disburse pensions or arrears to eligible left-out beneficiaries, with the deadline for paying 50% arrears fast approaching.
- Unlawful Rejections: Cases of unjustified rejections of pension claims under CRS (Compulsory Retirement Scheme) were flagged, contravening regulations.
- Compassionate Allowance Denials: Banks have allegedly dismissed compassionate allowance claims wholesale, disregarding principles of natural justice and existing legal precedents that classify pensions as a 'Right to Property.'
As a matter of fact, NFRRRBS on December 11, 2024 wrote to the DFS demanding timely implementation of pension and computer increment benefits.
Federation's Call for Urgent Action
The letter strongly emphasized the need for a robust grievance redressal mechanism across RRBs, as mandated by the DFS, to ensure transparency and timely resolution of issues. It stated, “Despite directives for grievance redressal, many RRBs lack functional systems, further compounding the plight of retired employees.”
The NFRRRBS also urged bank management to prioritise consultations with its units and keep them updated on progress. The federation warned of escalating legal and industrial actions if the issues were not addressed promptly.
The detailed grievances underscore systemic challenges that need immediate attention to uphold the rights and welfare of retired RRB staff.