Vijayawada

Bank retirees seek pension revision

Long overdue: Representatives of the All India Bank Retirees’ Federation addressing a press conference in Vijayawada on Monday.

Long overdue: Representatives of the All India Bank Retirees’ Federation addressing a press conference in Vijayawada on Monday.   | Photo Credit: CH_VIJAYA BHASKAR

Privatising PSBs will lead to more NPAs, says AIBRF

All India Bank Retiree’s Federation (AIBRF) has demanded that the Union government revise and improve the basic pension for retired bank employees on the lines of pay commission pension.

Addressing a press conference ahead of AIBRF office-bearers committee meeting here on Monday, its president S.M. Deshpande and general secretary S.C. Jain said that the basic pension for bank retirees has not been revised during the last two decades though inflation went up 10 times. He said that family pension in banking is only 15% while in the RBI and government it is 30. Apart from revising the basic pension and increasing quantum of family pension the government should immediately take up all pending issues.

Mr. Deshpande said that the consolidated amount in pension funds of various banks is more than ₹1.2 lakh crore and is increasing year after year and it is easier for the banks to fulfil the demands.

Speaking about privatisation of banks, Mr. Jain said that any move of privatising banks would lead to more non performing assets (NPAs).

“Banking sector is facing serious problem of growing NPAs which have reached to about ₹10 lakh crore and most of them belong to corporate sectors,” he said.

Mr. Jain said that AIBRF opposes privatisation of banks in the name of reforms.

The committee meeting will be continued on April 3 and plans to achieve pending issues will be chalked out.

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Printable version | Jul 11, 2020 12:58:49 AM | https://www.thehindu.com/news/cities/Vijayawada/bank-retirees-seek-pension-revision/article23421121.ece

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