IBA ADVISE MEMBER BANKS TO MAKE ADHOC PAYMENT UNDER 12TH BPS/9TH JN

[MOHAN P]

Dear Friends,

Payment of Ex gratia too may take place soon.

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2. The Govt. of India, DFS, vide their letter eF.No. 4/2/1/2022-IR dated 13th March, 2024 (copy enclosed), has conveyed No Objection to Public Sector Banks to pay adhoc amount/ on ad-hoc basis, as per agreed provisions of 12th Bi-partite Settlement/9th Joint Note, pending amendments to the relevant regulations, of-

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(iii) Monthly ex-gratia [not attracting any other allowance] w.e.f. 1.11.2022, to pensioners and family pensioners [who became eligible to draw pension on or before 31.10.2022], as a one-time measure, for the current bipartite period.

[Sanjay J]

🙂🙂🙂

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[JSOMA SHEKARA]

The agreement between IBA and UFBU lacks clarity.

1. Whether Ex gratia will be paid taking into consideration notional 100% DA.

2. It is mentioned it will be reviewed every year and the first review is  during April 2024.

    is there any possibility of modification of multiplication factor

3. May be IBA has reserved the right to modify scheme

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[Srinivasan Badri]

Is any adhoc ex-gratia is to be paid for pensioners in March?

If paid I think it will be in the nature of temporary advance and hence may not count as income for this financial year.?for Income tax purposes?

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[Kalyanasundaram Subramaniam]

Mr JSoma shekara

IBA does not have unilateral powers to modify the scheme. Please note that the review will be "as mutually agreed between the IBA and the Unions/Associations."

S Kalyanasundaram

[Jayateerth Koti]

Sirs,

It is said that the ex-gratia will be reviewed in April, every year.

While it is assured that the ex-gratia would be paid until October, 2027, does 'review' mean further improvement in the quantum ?

Regards 

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[JSOMA SHEKARA]

"as mutually agreed between the IBA and the Unions/Associations."

The above words will remain only on paper.  Whether UFBU insisted for 100% DA from back date? Why did UFBU accept Ex gratia  terms as proposed by IBA instead of demanding a reasonable amount. Is such a formula was agreed by UFBU? Misinterpretation of second pension option  agreement, rejecting 5 years grace period, 1616-1684 issue all could have reso;ved amicably as such words are added in every agreement. But Pensioners had to go to courts to settle issues and get justice after 18 years.

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[Sarangapani Rao]

Sir, Ex gratia to be reviewed in April  every year, means

 subtle ' fine tuning ' after ' fine tuning '   till the ex gratia wanes down to re. 1/ & finally vanishes into thin air . 😂😂😂

Sarangapani 

Indian Bank, VRS 2000.

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[JSOMA SHEKARA]

 Good news for Canara Bank Pensioners

Note approved from PM Section 

Good news for all.

This month only disbursement  exgratia  with arrears.

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