Government approves wage revision of PSU general insurers, NABARD, RBI employees, pensioners - The Hindu

[RAMANI NV]

Government approves wage revision of PSU general insurers, NABARD, RBI employees, pensioners - The Hindu https://share.google/jIpO5487ILuYaMjvO 

[JSOMA SHEKARA]

Though the truth is bitter to UFBU loyalists, the fact remains that RBI, Nabard pensioners did not do any research on pension regulations but united and launched honest and consistent struggle for pension updation,  which made the Government of India to accept their demands. 

Whereas UFBU is keeping retirees miles away. Zero struggle for pension updation.

UFBU has become spokesperson for IBA defending denial of merger of DA, 100% DA, Updation.

A pan beeda shop owner does not have any Business management degree. But he is more successful than  any person having MBA degree, The reason is Commitment, honesty and consistency,

On Fri, Jan 23, 2026 at 3:51 PM RAMANI NV <ramani...@gmail.com> wrote:

Government approves wage revision of PSU general insurers, NABARD, RBI employees, pensioners - The Hindu https://share.google/jIpO5487ILuYaMjvO 

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[Vvns Varaprasadrao]

Main reason is ego clashes between UFBU and Retiree organisations.

Namasthe.

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[Ramani Konnayar]

Dear Sri Somashekar ji,

At the outset, please let me clarify that I am neither a loyalist of UFBU nor hold any brief for them. I am just an ordinary member of a retirees' organisation, that too because, I believe, it is morally not correct to enjoy benefits secured through the efforts of others without being a part of them.

As pointed out by you, RBI and NABARD don't have to deal with IBA and

also, these are single entities.

This puts their employees as well as pensioners in a better position compared to their counterparts in PSBs in securing financial benefits.

Any decision taken by IBA involving financial obligations by its member banks, in this case the PSBs,  has to be necessarily accepted by all of them for uniform implementation e.g., the terms of BPS.

Chairman of each PSB is concerned about his own career progression which is directly related to the bank's performance, in which, unlike those in service, the retirees have no role at all.

Just as UFBU apprehends that implementing updation to pensioners might affect the future wage increase of their majority members under NPS, 

the Chairmen of PSBs too seem to believe that locking up more and more monies in Pension Funds would curtail their lending power.

I agree that UFBU has been doing only lip service to the cause of pensioners particularly after the last BPS. This is evident from its failure to secure any increase in Ex-gratia so far 

and even setting right the anomaly in ex-gratia calculation to pre-2002 retirees, leave alone merger of DR with basic pension and implementation of new DA series.

Having said these, let me also point out that a proposal to seek updation in stages, starting with the pre 20002 group was under the active serious consideration of UFBU just ahead of the

last BPS. This group comprises of less than 15% of the total number of pensioners who suffered heavy losses over 18+ years due to tapered DR as well as low pensions and do not have many more years of survival. Hence, this group was chosen. However, all the retirees' organisations clamoured for updation across the board to all groups and the slogan "UPDATION FOR ALL OR UPDATION FOR NONE" was raised vociferously. This demand itself came in handy to UFBU to cite cost factors and almost shelve the updation proposal.

K N RAMANI 

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[Rajender Sharma]

Sir,

You are 100% correct.There seems to be no initiate on the part of the united Forum

to take up the updation issue seriously with the IBA.

On the other hand,they pose to be sole champions of retirees' issues and all retiree

organisations have been kept at bay all along while negotiating with the IBA.

It is also true that retiree organisations have refrained from pursuing the issues 

in the courts knowing fully well that they will never be heard in the bipartite 

negotiations.The result...updation has been hanging fire for the last thirty years and the 

pensioners are destined to eat the humble pie.

R K Sharma