Retired and Untired

Year 2020

GMP for OPD to RBI Pensioners(70+)-Renewal- January 1, 2021 to December 31, 2021

RBI has renewed  GMP for OPD to Pensioners by their circular dated December 30, 2020.  Policy Period is – January 1, 2021 to December 31, 2021. Details are given below:  1. Circular dated December 30, 2020 2. Salient features  3.  TPAs… Continue Reading →

Revised dearness allowance data for bank employees

After the CPI-IW (2016=100) series replaced the CPI-IW (2001=100) series effective September 20, All India index for the month of September, 2020 was initially reported by M/o Labour & Employment as 118.Dearness Allowance for RBI employees and also for other… Continue Reading →

Bank officers sign wage revision with IBA-Joint Note inked.

After prolonged discussions and protracted negotiation on various financial and non-financial issues, the long-awaited settlement has been reached between IBA and all constituents of UFBU for all scales of officers.The highlights and salient features of the settlement with the officers’… Continue Reading →

11th Bipartite Settlement signed today.

After a long and protracted negotiations for more than three years and after overcoming many impediments and hurdles, finally, the 11th Bipartite Settlement on revision of wages and improvement in service conditions of bank employees has been signed today with… Continue Reading →

An appeal to Governor-OPD scheme for 70+ Pensioners

Under a RTI the following data has surfaced which shows that a whopping sum of about 61 crores has been paid as premium to the Insurance company for the Policy Term January 1 to December 31, 2018 in respect of… Continue Reading →

CPF optees who want pension! Know the estimates for refund of PF and likely Pension

This illustrative spreadsheet below gives an idea to the member / user about the range of  PF amount that the Bank may eventually ask him to refund. As the amounts involved are substantial, he may have to  take steps  in… Continue Reading →

Instructions for opening of option for pension

Bank. in continuation of Administration Circular dated 14-9-2020, has issued detailed instructions for implementation of opening of option for pension in respect of CPF optees by their Circular dated 18.9.20. 1. Retired employees of the Bank who had earlier retained… Continue Reading →

10 Central TUs express dissent on unilateral change in base year to 2016 – Consumer Price Index – IW.

Central Trade Unions have jointly demanded reworking de novo the computation exercise of changing base year by involving the trade unions as the trade unions represent the actually affected stakeholders in the project of computation of Consumers Price Index -IW… Continue Reading →

NABARD Pensioners sanctioned Interim relief pending revision of pension

NABARD has decided to provide Interim Relief (IR) @ 60% of the total amount of the notional pension (based on the multiplication factors which are broadly on the lines allowed for the referral institution{RBI}) and Dearness Relief thereon, to all… Continue Reading →

(MAFS)-GMP (2020-21) for RBI retirees ( August 15, 2020 – August 14, 2021)

After the expiry of the earlier cashless GMP policy under MAFS taken from New India Assurance company Ltd. on August 14, 2020, RBI has placed the policy with Iffco Tokio General Insurance Co. Ltd. for the period of one year… Continue Reading →

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