BANK RETIREES HEALTH INSURANCE

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Sep 10, 2021, 12:42:24 AM9/10/21

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FOR INFORMATION.

Health Insurance Of Bank Employees

Sri Debashish Panda,

Secretary Finance,

DFS, MOF, GOI

New Delhi

S I R ,

Re: F. 1 417 192-IR (vol-ii) dated 24.2.2012-

ALLOCATION OF WELFARE FUNDS

- BANK RETIREES HEALTH INSURANCE

You are well informed of the precarious Health Security condition of Bank Retirees. From our side also we tried to invite your kind attention to this issue vide our mail dated 18.8.2021 & 24.8.2021.

The DFS above referred letter was addressed to Mr. Unnikrishnan, DCE, IBA, allocating Welfare Funds to PSBs. Banks were suggested as, "Banks may consider the option of group insurance policies for all serving and retired employees instead of paying benefits directly from the fund."

The DFS was aware that Retirees were given some Medical assistance from the WFs in cash or through insurance at Bank cost. That's why above new guideline was given. After above guideline, the IBA remain seated over issue for next 3 years and in 2015, much hyped Group Insurance Policy was brokered, but premium was left to be met by Retirees. Through this modus-operandi, the IBA advised Banks to DISCONTINUE all medical facilities then available at Bank cost. Here, the IBA totally denied the benefit as envisaged in letter referred above and withdrew Bank level schemes as well.

Current insurance cover shall expire w.e.f. 31.10.2021. As the position stands, only 25% retirees are insured, rest have dropped out due to unaffordability. 75% retirees are medically unsecured. Premium is so high, in certain cases, it needs 3 months' pension amount.

Further, when the Government has made due provision to provide health cover from WFs, how IBA or PSBs Chiefs can deny and deprive beneficiaries from their legitimate rights. Entire WFs are siphoned by working Executives to down level functionaries, who get high wages. Worst suffering retiree community is even denied 2 tablets for their life saving, while people in power dine Executive Thalis, read 5 news papers, need not to say how WFs are wasted like water, ignoring all rationale.

The Govt intention to help poorly paid section of working & retired bankmen is totally defeated. It's contrary to Government health programme of AYUSHMAN BHARAT under which a common man is given medical cover upto Rs.5 lakh. The spirit of WFs has been smashed by Bank management. Highly paid people get more share, as against lower one. And, retirees stand no where. It's sheer apathy, need your due attention.

We request you to please look into the rationale of WFs' uses. Please ascertain, whether really does it serve the purpose for which it is allocated. We want justifiable and purposeful utilization of WFs, otherwise let it be withdrawn, as there is no justification to fatten the fat belly of highly paid bank employees and officers, while depriving aging & ailing retirees from due medical care.

We are confident, you will lend your kind attention with a view to ensure due compliance of your letter under reference. Bank Retirees can't be ignored or forgotten. It's the intent of Hon'ble Finance Minister.

With Respectful Regards

(J. N. Shukla)

National Convenor

8.9.2021

9559748834

Copies to:

1. Sri Raj Kiran Rai,

Chairman, IBA

2. Sri Dinesh Khara,

Chairman, SBI

3. Sri Sunil Mehta,

Chief Executive, IBA

4. Sri Brajeshwar Sharma,

Sr. Advisor, IBA

For their kind information and favourable action.

Copy to:

Sister Nirmala Sitharaman,

Hon'ble Finance Minister,

GOI, New Delhi

- Just for information and cognizance, as to how, DFS own instructions are flouted, Retirees ignored & denied even the sanctioned facilities by government