PMO Letter Received

C N Venugopalan
Ex- Manager,
Union Bank of India

“ Nandanam”
Kesari Junction
North Paravoor
Kerala – 683 513
Phone No. 0484 2447994 Mobile: 9447747994email: cnvenu@yahoo.com


Comrades, 15th February, 2007



Sub: Second Option on Pension – A major break through


With profound happiness, I inform that the Pension Option issue is in the process of being sorted out. Prime Minister’s Office has given a direction to the Secretary, Financial Sector, Ministry of Finance to examine the issue and to take appropriate steps in response to my communication to Dr. Manmohan Singh, Hon’ble Prime Minister . An extract of the letter of the PMO along with a copy of the letter I sent to the prime Minister are appended for your information.


We can hope that the matter will be resolved while the budget session of the Parliament examines the issue in the current month.

Kindly send e-mail messages to your counterparts in other branches/banks

With revolutionary regards,

Yours comradely,


C N Venugopalan



Sub : PETITION OF Sh. C N VENUGOPALAN,
“NANDANAM” KESARI JUNCTION.
NORTH PARAVOOR, KERALA–683513



A copy of letter dated 10-JAN-2007 received in this office from Sh. C N VENUGOPALAN is forwarded herewith for action as appropriate.



( O.D. SHARMA)
SECTION OFFICER






SECRETARY, FINANCIAL SECTOR, M/O FINANCE
------------------------------------------------------------------------------------------------------------------
PMO ID NO. 09/ 3 / 2007-PMP-4/750170 Dated – 22-JAN-2007


Copy for information to :-

Sh. C N VENUGOPALAN
NANDANAM” KESARI JUNCTION.
NORTH PARAVOOR, KERALA–683513



( O. D. SHARMA)
SECTION OFFICER

C N Venugopalan
Ex- Manager,
Union Bank of India

“ Nandanam”
Kesari Junction
North Paravoor
Kerala – 683 513
Phone No. 0484 2447994 Mobile: 9447747994

Dr Manmohan Singh, 10th January, 2007
Prime Minister of India,
Office of the Prime Minister,
New Delhi – 110 001

Respected Sir,
Sub: Pension for all Bank Employees.
At the threshold of the New Year, 2007, I wish you a very bright and Happy New Year and take the privilege of addressing a grave issue, to the head of the Cabinet of the country for bringing a logical conclusion to it. The issue is such a malignant one for the country as a whole since it involves discrimination of similarly placed in the sixth decade of independence in the democratic India. There is dual citizenship in the banking space which a leader like you can not reconcile. I belong to the school of thought that identifies you as the only person who can easily resolve this burning issue of bank men for ensuring social justice. Being the head of the Cabinet, you will be most interested in doing away with violation of the Constitution, which poses a question mark before the entire nation and to its heritage.
I am enclosing for your information a copy of the fortnightly, “Business Economics” (Dec. 16 – 31, Pages 22 & 23) containing an article under the caption “Indian Banking Sector: A Saga of labour unrest” regarding denial of second option on Pension in the Banking Industry. The Indian Banks Association and the Government have denied natural justice to about eight lakhs of bank men and their families leaving them in the lurch at old age by keeping them out of the ambit of Pension. The hard work they put in, from dawn to dusk, for thirty to forty years, for making the banks what they are now, does not qualify for pension, in the eyes of the authorities. How can such an anomaly be allowed to continue in a democratic country that claims to ensure social security to the workers in their old age ?.
I have vividly clarified in the annexure to this letter as also in the fortnightly that banks can extend Pension Option to all the employees without incurring any additional costs and confining expenditure to the committed costs obtaining in the year 1995. What is needed, is only a positive approach to the issue and the preparedness to correct the mistakes, those responsible have committed.
Our country is drawing itself close to the diamond jubilee of Independence and discrimination among similarly placed is totally unwarranted. Any sensible person can not reconcile such a situation. It is opposed to statute and run counter to the principles of equity and equality enshrined in the Constitution. The gravity of the situation gets intensified since the Government itself has become instrumental to the discrimination. While conceding to the demands for hike in Pension of SBI employees who struck work for eight days in April, 2006, the Hon’ble Minister for Finance became a party to creating a new class of employees with three retirement benefits viz. Gratuity, Pension and Provident Fund, in the banking industry. Their counterparts in the rest of the banks including the subsidiary banks of SBI have only two benefits viz. Gratuity and Provident Fund or Pension. The SBI employees demanded parity in Pension with the Pension Scheme in other banks, a benefit which was not uniformly available to all employees in such banks. The Hon’ble Minister, who, while swearing in, took the oath in the name of the Constitution, assuring to protect its sanctity, became a party for violating it, by conceding to their demand.
The IBA, the body of bankers, the Government that sanctions the absurd proposals of IBA and the various trade unions that failed to sort out the issue – all stand in the defense box now. The bureaucracy that committed the mistakes with the least intelligence lacks wisdom and magnanimity to amend itself and correct them. The present situation calls for interference of leaders, with wisdom and understanding, which would infuse justice and fair play, to rescue the oppressed and deceived. As a pragmatist who opposes injustice and discrimination in the country, you will kindly direct the Hon’ble Minister of Finance to ensure justice to the bank men for saving them from agony at old age. The steps you take in the direction will be hailed by about eight lakhs bank men, both working and retired, and their families. They would imbibe in them allegiance to you and to the party for sorting out the issue in a befitting manner. I shall be circulating this letter among the bank employees, through e-mail or other media so that the role you play in the matter is well acknowledged. It is my earnest request to you to kindly interfere in the matter and resolve it, for upholding the values of the country and for averting labour unrest on this score.
A gist of anomalies in the Pension Scheme is annexed to give you a proper idea on it. I am sure you will come to a conclusion that all bank employees should be uniformly extended three retirement benefits as in the case of SBI employees. Should there be genuine financial constraints for granting Pension as third benefit immediately, it has to be extended as a second benefit to all bank employees with the minimum qualifying service, who are working and retired for the time being.
With warm regards, I remain.
Thanking You,
Yours faithfully,


C N Venugopalan