Late MC Singla case in SC

[Narayanan Venkateshwaran]

If one had watched carefully the argument about presence or other wise of updation clause in pension regulation, it was all somewhat subdued. The learned judges are sure to have understood it by now as  a no 

 issue given it's absence in similar such pension schemes viz :in RBI whose pensioners are beneficiaries thrice so far.

 

The learned judges would not also have lost sight of comments of IBA about clamour for similar benefitt by PSU bank pensioners citing RBI pensioners

Their indirect commitment to updation was discernible when Adhoc Allowance was permitted. 

They are probably waiting for pronouncement of verdfict in Singla case Which cannot go against the interest of pensioners, given the circumstances.

Funds Adequacy is not to be a raging issue. Both  sides are supposed to be armed with chart prepared after Acturial Exercise covering same period. It will give tell tale evidence. It will  show where we stand and also does not absolve banks of their obligation. 

It is stressed that management are in Obligation considering the tight leash in which banks were/are kept with administration and policy matters and employees are not to be blamed for the ills

Banks are arned with umpteen methods to equip themselves with funds, with permissible accounting methods. May be like Revenue Expenditure capitalisation/Direct loan from GOI'etc. For the said purpose those banks who need assistance have to be identified. But PAYABLE IF ABLE would not behove well for govt. 

Major chunk of beneficiary would be surviving lot of 2001 retirees who are Septugenarians. and barring a handful  many of them would not see another dose of settlement. Futuristically updation will not be biting proposition fir banks

Presently, when similarly placed pensioners in other walks of life are jumping with joy with their pension pay packet let not bank pensioners  continue to sulk with sadness

Best of Luck for self and  all others

C V Narayanan

  

 

[Sureshbhat M]

If  all these arguments withstand are 2001  retirees eligible for arrears from 2003 settlement and all next settlements?

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[Ramani Konnayar]

Dear Shri Narayanan,

A good analysis. I would like to supplement it with my following 

observations.

In its Compilation report submitted to the Court, IBA has attached as the last item, the minutes of the joint meeting held with UFBU on 8/3/2024. The purpose/intention for doing so is not clear.

On the one hand, the Court might point out that if there is no provision in the Pension Regulations for updation as contended by IBA, why at all they should have  agreed to discuss with UFBU and arrive at a mutually acceptable and amicable solution to the pension updation issue within the next 6 months but subsequently decline to discuss, for the matter was subjudice.

On the other hand,  it could be the expectation of IBA that the Court might 

direct IBA and UFBU to negotiate the issue and resolve it early rather than ordering to adopt the RBI formula as prayed for by the petitioners.

K N RAMANI 

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[ramesh.n. Iyya]

Bank pensioners are paid out of huge pension fund of ₹ one Lakh Forty Five thousand as on March31, 2025,always increases, Hence Bank Is not contributing to Pensioners payment. Pensioners Fund is only for Pensioners, which bankers with holding from Tirty Years and earning interest👍

On Thu, 26 Feb, 2026, 3:20 pm Narayanan Venkateshwaran, <seevi...@gmail.com> wrote:

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[MOHAN P]

Dear Shri Ramesh,

Though we have discussed on this point several times here still few believe that pension fund is having surplus amount and no need for banks to add any amount towards shortfall  of the fund  as per annual.actuarial valuation.

Moreover the amount as referred  lying at pension fund now is banks money and not contributed by pensioners.Also note that fund is not exclusively kept for past retirees /families pension payment  only but entitled to serving employees too  those who have opted OPS.

While enhancing Family Pension recently,  substantial amount  were added to pension fund by banks to meet additional cost.That is the reality.

Regards

Mohan.P

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[GARIMELLA SESHAGIRIRAO]

Why you are talking of pension fund availability. Banks will takecare of as per pension regulations.

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[sudhakar avalur]

Sir

Do you mean the Pension fund includes the money of employees who are working / joined after 2010? If that is the case Banks have withdrawn money to the tune of 70000 crores from the fund for making adjustment to various heads in the books, is it correct and legal.

Regards

Sudhakar 

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[Prasad C N]

Dear friends,

With a positive mind and with a view to assist those who are fighting Late Shri M C Singla's case, we need to put all our heads together by providing and sharing following information.  We could help the Petitioners by providing these information to enable them to submit to Hon'ble Court, if Hon'ble Court raises any of these questions.  Hon'ble Judges have already told the Senior Advocate of PNB/IBA that pension has to be paid in terms of Regulations.  

I have been requesting everyone to enlighten us with applicable formula for updation, which is being prayed before Hon'ble Supreme Court with due reference to applicable clause either in Settlement or in Regulations. 

We also request all enlightend and postive minded warriors to inform us whether Pension is being paid in terms of Pension Regulations?  If it is not being paid in terms of Pension Regulations, please list the details of such Regulations, including those in Regulation 35(1) - Appendix I, in terms of which pension is not being paid.

Please also share supporting documents, if you have any.

 

Thanks, a Million. 

With regards,

Prasad C N

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[Gopalakrishnan Ramachandran]

Dear Sri Ramani,

What you have stated in the last paragraph has already been envisaged in my letter in the blog 4 days back.

Court may play safe by mooting such an idea. But the court should fix a time frame, lest the issue will never be resolved.

G Ramachandran 

CB-SVRS 

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[MOHAN P]

Mr Sudhakar,

Read my message in full.

It refer on employees those who have opted Old Pension Scheme( ie:defined benefit pension plan) only.

NPS  is different( ie.defined contribution plan) and existing pension fund  is not connected with them

Regards

Mohan.P

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[Mathrubootham Sreenivasan]

let GOD prevail upon judges mind and make them to deliver favourable  judgement to the bank pensioners who are putting their one  foot in the grave yard atleast 75 percent are over 75 yrs old/age  the judgement will also help present employees

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[Satyanarayana Rao]

The judges have clearly mentioned that if the Banks are not paying pension as per person regulations they have to pay.
Here the question of availablity of funds will not arrise.
Banks and unions have cheated the Pensioners by not updating pension during wage revision periodically.
This is the crux of the issue and the Justice shall prevail and Singla ji, the judicial victory shall be ensured.

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[JSOMA SHEKARA]

Mr.Prasad Sir, 

First of all is it mandatory that provision for pension updation should exist in Pension regulations for implementing updation?

Was there procision for enhancement of family pension?

Finance Minister has approved Updation in RBI multiple times that too with arrears even though there is no provision for pension regulations. In the past DFS mentioned that if  Updation in RBI approved, similar demand from PSU Bank pensioners will come. DFS never said there is no provision for pension in BEPR 1995. Infact DFS in reply to a member of Parliament replied that  if a  proposal submitted by IBA it will be considered. Neither Central Govt pension rules, RBI pension rules, LIC and nabard pension rules did not have provision for updation. It was introduced later due to consistent demand from unions. It is unfair  and illegal on the part of iBA to file affadavit

Petitioners have filed copies of  resolution dated 08.03.24 and DFS notification extending updation for third time which also made it clear that DFS is in favour of extending benefit to all.

BEPR 1995 is a subordinate legislation. There is a clause that if there is any doubt reference should be made to Central Government pension regulations. IBA says it is neither a government entity nor a regulatory authority. 

IBA has no authority to interpret legal meaning of terms of BEPR 1995, IBA should have referred the matter to the Central Government and obtained its opinion in writing. In case Central Government interpretation is not satisfactory the same can be challenged in the court. Since IBA has filed  affidavit giving its own interpretation of Reg35/1 and  amendment of 2003, the same is challenged in the Supreme court and the supreme court is the final authority to give legal interpretation of terms of BEPR1995.

Yes there is  some lack of clarity  on calculation of Updation. Hope pensioners side will demand definite formula for updation submitting charts.agga

For every agreement be it the agreement of 1993 and 1994 and Pension regulations there are two parties, IBA and UFBU. High court judges in M C Singla case only relied upon affidavit of IBA without any documentary support and only iBA interpretation of clauses of the above agreements in the absence of Unions statements.High court judge was not aware that petitioners are not allowed to negotiate and even iBA not ready to communicate with them.

Majority of the litigants in court vases win not because they presented true facts but argued the case in convincing manner with whatever documentary support they hacve. IBA did the same for the last 20 years  convincing courts about the huge cost of updation without producing cost data and convincing court about the committee without submitting committee report.

If anybody has any solution they are free to advise pensioners' advocates.. I am confident that Pensioners advocate will have clarity on formula for updation and convince the court.

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[Narayanan Venkateshwaran]

This is with reference to Sri

Prasadj's request to make available any valid point with reference to the ongoing late Singla vs Union of India &ors case in  SC,to feed the data to the advocates. 

On enquiry with one of my retired rly employee friends under OPS, I learn their pension scheme does not differ from ours and that the system of filling up pension fund under IAS(AS19) has long been given up and funds are credited directly based on need. 

He said acturial system fails to work considering enormous funds requirement. The needs are met  from revenue and Budgetary grants go for capital projects. 

Unless banks follow the same procedure there is no salvation. 

The pensioners have been wronged too long because of govt policy in administration after nationalisation. 

Their attempt to wriggle out has to be thwarted and judgement secured in our favour. 

To meet out the need can zero coupon bonds be issued to be sold at a discount, encashable at face value on completion of the term? 

This is only a loud thinking and do not  know whether workable at this late hour

Regards

C V Narayanan

28th feb 2026

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[SBMPC Blore]

Mr.Prasad Sir, 

Dear Shri Somashekaraji, my answers are palatable for many.  Having fought and continue to fight cases before High Courts and Supreme Courts, I have seen how Hon'ble Judges view or consider pleadings.  In case, if I do not share information or understanding I have, I am misrepresenting.  I do not want to mislead.   Whatever knowledge or information I have, I am sharing in Bold : 

First of all is it mandatory that provision for pension updation should exist in Pension regulations for implementing updation?

There is no Pension Regulations or Rules in the country, including that of Central Government and Reserve Bank of India has any clause or word pension updation.  There cannot be any such clause because there cannot be a constant formula for wage revision.  Even Reference to Pay Commission does not include issues of pension improvement. Rerserve Bank of India formula has loading of 10%.  In case, improvement in superannuation benefit reduced to any percentage, which is even less than 10%, Pensioners load cannot continue to be at 10%.  Perhaps, this example explains why there cannot be any clause in any Pension Regulations.

Was there procision for enhancement of family pension?

There is no bar in any law to extend the benefit.  This is because right of any person is adversly affected by improvment in Family Pension.  Law protects existing benefits.  

Finance Minister has approved Updation in RBI multiple times that too with arrears even though there is no provision for pension regulations. In the past DFS mentioned that if  Updation in RBI approved, similar demand from PSU Bank pensioners will come. DFS never said there is no provision for pension in BEPR 1995. Infact DFS in reply to a member of Parliament replied that  if a  proposal submitted by IBA it will be considered. Neither Central Govt pension rules, RBI pension rules, LIC and nabard pension rules did not have provision for updation. It was introduced later due to consistent demand from unions. It is unfair  and illegal on the part of iBA to file affadavit

Government of India approved the proposal of Reserve Bank of India to revise pension after due approval of its Board.  Eventhough LIC Board has approved pension revision, pension has not been revised in LIC.   Unfortunately, we are blaming Indian Banks Association and the Government.  Pension could have been revised in case if we were to impress upon the CMDs/MDs/EDs need for pension revision. We have failed in our duty.

Petitioners have filed copies of  resolution dated 08.03.24 and DFS notification extending updation for third time which also made it clear that DFS is in favour of extending benefit to all.

BEPR 1995 is a subordinate legislation. There is a clause that if there is any doubt reference should be made to Central Government pension regulations. IBA says it is neither a government entity nor a regulatory authority. 

Indian Banks Association's status has no relevance.  It is not negotiating on its own.  But, it is acting as a Mandate holder, like a Power of Attorney holder or an agent, based on mandate by the Banks.  Managing Committee consists of MDs/EDs only.  They act only in their interest only.  That is why both 100% DA & FP are improved and maximum benefits flows to them only.   

Both Division Bench and Single Judge benches of Hon'ble Punjab & Haryana High Court in Singla's case have dealt with Regulation 56.  There are other Judgments also regarding Regulation 56, which are not in favour.  That is the reason, I am not quoting them.  There is a need for existence of three ingredients.  First, there should be doubt.  Second, such doubts relate to existing Regulations. Third, there should be corresponding Regulations in Central Civil Services Pension Rules, 1972.   There is no Regulation in our Pension Regulations, 1995.  There is no word updation in Central Civil Services Pension Rules, 1972.  In the absence of any Rule in Central Civil Services Pension Rules, 1972 regarding Pension Updation, Regulation 56 cannot assist us.  What I am saying is nothing new.  Hon'ble Courts have already decided.  Therefore, please go through the Judgments of Hon'ble Punjab & Haryana High Court & Hon'ble High Court of Karnataka.  Courts have decided these issues.  We are neither submitting any counter with force to get the reversal of the Judgment nor providing any other cogent grounds which has force, better than that of the defence of the Judgment by IBA/PNB.

IBA has no authority to interpret legal meaning of terms of BEPR 1995, IBA should have referred the matter to the Central Government and obtained its opinion in writing. In case Central Government interpretation is not satisfactory the same can be challenged in the court. Since IBA has filed  affidavit giving its own interpretation of Reg35/1 and  amendment of 2003, the same is challenged in the Supreme court and the supreme court is the final authority to give legal interpretation of terms of BEPR1995.

It is Pensioners who want the benefit, IBA is an organisation of Management, who has to pay.  There Regulations are formulated and amended with indulgence of IBA.  Any scope of interpretation or existence of any provision in Pension Regulations, 1995 is invented, but not discovered.  No one so far provided any case for interpretation in Pension Regulations, duly providing reasons thereof.  IBA has stated in its Affidavit that 'It is not the case of the Petitioners that Pension is not being paid in terms of Regulations.  So far, I have not seen any document submitted by the Petitioners/those representing Pensioners which supports the cause of the Pensioners providing cogent proof dislodging the claim of IBA/PNB.  

Yes there is  some lack of clarity  on calculation of Updation. Hope pensioners side will demand definite formula for updation submitting charts.agga

For every agreement be it the agreement of 1993 and 1994 and Pension regulations there are two parties, IBA and UFBU. High court judges in M C Singla case only relied upon affidavit of IBA without any documentary support and only iBA interpretation of clauses of the above agreements in the absence of Unions statements.High court judge was not aware that petitioners are not allowed to negotiate and even iBA not ready to communicate with them.

Majority of the litigants in court vases win not because they presented true facts but argued the case in convincing manner with whatever documentary support they hacve. IBA did the same for the last 20 years  convincing courts about the huge cost of updation without producing cost data and convincing court about the committee without submitting committee report.

If anybody has any solution they are free to advise pensioners' advocates.. I am confident that Pensioners advocate will have clarity on formula for updation and convince the court.

In any Court case, it is the duty of the Petitioners to prove, but not that of the Respondents.  We are all making one mistake.  The cost of Pension Revision is dependent on the formula.  Neither IBA, nor the UFBU nor the Committee nor the Pensioners can say without applicable formula.  Can anyone say what is the cost of cloth, without measurement?  Reserve Bank of India Pension Revision Formula is out of question because by seeking RBI formula, we are seeking far more than One Rank One Pension.  To illustrate, go through the following example:

Gross Pension of a General Manager retired on 31.10.2022 (11th Bipartite Settlement) is Rs.1,02,607/- and Gross Pension of a General Manager retired on 31.08.2023 is Rs. 1,08,663/- (12th Bipartite Settlement) and the difference in pension is Rs.6,056/-.   In case, Pension is revised as per RBI formula, pension of a General Manager retired earlier during 11th Bipartite period would be Rs.1,15,294/-, which would be more than Pension (Rs.1,08,663/-) of a General Manager retired during 12th Bipartite Settlement. 

I have repeatedly requesting everyone, including warriors, crussadors and fighters, what is the applicable formula for Pension Updation sought before Hon'ble Supreme Court and basis for such a claim.  There are no words Reserve Bank of India in Regulation 56 and Regulation 35(1).  Then what is the formula, we want?  It is unfortunate that we are raising hopes without even providing a formula, which could be enforced alongwith basis for such a claim.  All other stories hold good during a negotiation.  Courts do not write stories but enforce laws.

I am aware that what I have said is not palatable to many.  I cannot be misrepresenting or playing fraud, by providing false narratives. If I do not share the information, what I believe is true, then I am playing fraud.  Thank you for raising doubts and questions.  I have no problem in sharing my thoughts.  

I do have experience in litigation.  We are fighting State Bank of India, which was represented by Shri Tushar Mehta and other very Senior Advocates.  Despite that we have secured apology from the Chairman, State Bank of India in Supreme Court.  Shortly, we are launching one more contempt proceedings against the Chairman.  There is no need to raise hopes.  My conscious do not permit telling lies.  I do not want to be a hero.  Atleast, I shall not propogate false narratives.

Note:  Regulation 35 is for fixation of pension at the time of retirement, but not for revision.  In Reserve Bank of India there is no updation, but it is Pension Revision.      

Thanking you,

With regards,

C N Prasad 

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[MOHAN P]

Dear Friends 

Sri Prasad Ji has clearly spelt out the factual position on our case on updation of pension pending before Apex Court.

There may have different views.Most of them are emotional.But facts are facts.Court cannot provide any formula on this.

Our social media is also contributing a lot on creating hopes on verdict with misleading information.

Updation of pension may happen or should happen.

Meanwhile let us wait and see the developments in court.

Regards

Mohan.P

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[Rajendrasinh Jadeja]

कम से कम late શ્રી सिंगला साहब का लिहाज करे।!!!🙏

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[Narayanan Venkateshwaran]

This is with reference

to elaborate note from Mr. Prasad. Looking for a formula from members at this late hour is going to take us nowhere. Only those like  Mr. Prasad who have delved deep in to the issue can do anything substantive. Most  of the contributors in this forum are only stray writers. 

The formula matter should have engaged our attention long ago. 

Can we go  via media with RBI formula doing cosmetic touches wherever anomalies creep in say  by extending exgratia. 

Regards

C V Narayanan

3rd march 2026 5.32pm

On Tue, 3 Mar, 2026, 5:11 pm MOHAN P, <moha...@gmail.com> wrote:

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[Satyanarayana Rao]

All these veiws will have answer through Supreme court verdict in Singla case which is on fast track.
No two layers agree while fighting the case .
The debate which is going on is used as exchange of ideas.
Nobody has right to step in to the shoes of the judges and presume and assume.
Let us wait for the final verdict from Supreme court which will put an end to decades old issue which delebrately created by the UFBU and IBA nexus in denying the pension updation/Pension revision and delebrately supported by legal luminaries with in with out.
Where is will there is a.way.
That way shall be ensured by update of pension through Supreme court favourable verdict.
Wait and watch.

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[Ramani Konnayar]

In the hearing on the very first day, the judges have called for statistics comparing the Pensions being paid to those who retired in the same cadre with same length of service but at different points of time. 

Definitely, this approach is sharply and vastly different from the one adopted by the different High Courts which had ruled that there is no provision for periodic updation of pension in BEPR.

It is this approach that has raised hopes that even if the Supreme Court upholds the verdicts of the High Courts in respect of Regulation 35 (1), it may still appreciate that the demand of PSB pensioners to be treated on par with their counterparts in RBI and Government is genuine/reasonable and advise IBA to resolve the issue amicably  within a time limit, by holding negotiations with UFBU as already agreed upon in the joint meeting held between the two on 8/3/24.

After all, it costs nothing to be optimistic and hopeful and anyway we are well accustomed to withstand disappointment if our hopes are belied.

K N RAMANI 

On Tue, 3 Mar, 2026, 5:11 pm MOHAN P, <moha...@gmail.com> wrote:

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[JSOMA SHEKARA]

Thank You Prasad Sir,

If our long wait for Updation ends positively in SC it is a great relief.

Unfortunately if SC upholds the High Court verdict  that is not the end as the field will be wide open for UFBU to negotiate the  issue with greater force.

Advantages of UFBU

1. As we have already agreed DFS has shown the way to Unions to negotiate updation with IBA without accepting the reason there is no provision for pension updation in BEPR1995.

2. IBA cannot avoid discussion quoting reason Sub Judice.

3. UFBU only need to discuss the issue among their constituents and arrive at a formula and submit a specific   demand to IBA.

4. If demand is specific IBA will come out with the cost data for that demand.

5. I  think DFS will approve  if  IBA and UFBU arrive at consensus/reach an agreement and IBA sends a proposal.

So let us wait for the M C Singla case verdict.

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[Sanjay J]

1. The IBA argues that Regulation 35(1) is fundamentally a pension fixation formula meant for a specific historical window, not an express, self-executing updation mandate. Under this view, any right to updation must be derived indirectly through interpretation, as the text doesn't explicitly mention "future" or "automatic" revisions.

2. The Petitioners’ Counter (The 2003 Turning Point):
The 2003 amendment fundamentally changed the nature of the clause. By replacing "will be updated" with "shall be updated" and pluralizing "formula" to "formulae," the regulation moved from a one-time event to an ongoing obligation. This pluralization strongly implies an intent to incorporate new formulas for every subsequent pay revision, making the mandate dynamic.

3. The Court’s recent demand for comparative charts across three distinct periods is a significant signal. While we must remain grounded, the likely judicial outcome may be a "middle path":

• Recognizing the pensioners’ grievances as genuine and legally grounded in the 2003 amendment.

• Directing the IBA to frame a structured formula and take a policy decision within a strict, time-bound frame to resolve the disparity.

This isn't just fond hope; it’s a pragmatic expectation based on the Bench's current direction.

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