Dear Shri Ramakrishnan Ji
Referring to your message, the copy of the GOI ,Ministry of Finance letter dated 5th October 2023, conveying to IBA 'No Objection' on advising banks to pay 100% DR neutralisation by IBA to pre 1.11.2002 pensioners w.e.f 1st Oct 2023, is attached herewith.
You may please note the last paragraph of above communication as follows
"No arrears shall be payable for the periods falling prior to effective date"
Also banks have granted Ex gratia of small amount along with.
If a favourable verdict was from Court ,naturally arrears would have been received.As we are aware we have lost the case before Apex Court .So it is a great relief to see that at least same has been resolved later out of court.

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The Judges may take a very dim view of the IBA filing "illegible" data at such a late stage. This could be viewed by the Bench as a delaying tactic or a lack of transparency regarding the very data they requested on February 5th.
This actually strengthens pensioners’ argument that the IBA is avoiding a clear comparison of the facts.
The court's primary goal remains the year-wise pension calculations for the three periods to test the "shall be updated" mandate (p. 5).
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