WHERE IS MONEY FOR UPDATION

[JSOMA SHEKARA]

If there is a strong demand, pressure on iBA/Banks by Unions, Banks/IBA/DFS will provide funds.

Here is a  brief analysis of how much pensioners have lost  since 2001 because of non implementation of benefits

from its due date. This is a rough calculation based on available sources not exact to rupee.

1. 100% DA Benefit

     01.05.2025 to sep 2023   No.of.pemsioners affected 180000   

     Total loss per person  10 lakhs including interest

     180000 x 10 lakhs = 18000 crores. (AIBPARC has projected actual updation cost

      Rs.8000 crores)

2    During second pension option Banks collected 156% but no interest on arrears.

3.   Retirees of 10th-12 BPS are losing amounts ranging from Rs 2000-13000 per month.

      Life  long loss is anything between 20 lakhs to 40 lakhs per person if they lose the case in SC.

      Even if they win, awarding interest is not guaranteed.

4.   In every BPS  salary due from BPS due date paid after 3 years without interest.

5.   Commutation recovered from Date of retirement 2000-2001 instead of date of credit

      while paying arrears  as per 2018 judgment.

All these  will cover pension updation adequately.

[Ramani Konnayar]

Sir,

One conspicuous omission is the reduced ex-gratia (average loss of around ₹600 p.m.) being paid to pre Nov 2002 pensioners since Nov 2022 due to not taking DA for October 2022 at 100%

neutralisation rates 

K N RAMANI 

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[Kalyanasundaram Subramaniam]

Actually, we do not know the cost of pension updation. This has to be worked out based on the pension updation formula by the actuary.

 

But in any industry any cost increase is passed on to the consumers. So in banking industry also, the cost can be passed on the customers.

 

As on February 2026 the total bank deposits is RS.25715528 crores and the total bank loans /advances is 21254911 crores. A 0.1 % interest addition for the loans and a 0.1% interest reduction for the deposits will fetch more than Rs.47000 crores funds annually. Based on the funds requirement, the interest rate can be calibrated. If the cost of updation is Rs.8000 crores as projected by some, then this can be comfortably passed on to the users of the industry, as is done by every industry. 

 

We are seeing bank managements right from Sen Award times. Banks have never accepted their paying capacity and they have always pleaded that they did not have paying capacity. This we have seen at every bipartite settlement right from the first settlement until the recent one. That is the usual ‘bhajan’ they do. Unions have to show them how the cost can be met. 

S Kalyanasundaram 

[GARIMELLA SESHAGIRIRAO]

Cost factor is the headache of management.court will give judgements as per law. If law is there we will get.not any body's charity.

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[Niranjan Cn]

Sir you have listed well everything. One should count what we have got - for well being sir.   But forget to include one major point.

WE ARE GETTING PENSION EVERY MONTH - WHICH WE NEVER EXPECTED WHEN WE JOINED THE BANK.

Niranjan

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