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Hans India
21-07-2025
- Business
- Hans India
CBSPRA demands pension updation
Gummadi Sudhakar Rao, K Vijaya Babu, N Pullaiah, M Venugopala Reddy, Ch Pushpamma, N Baburao who are above 75 years and members of CBSPRA being felicitated in Vijayawada on Sunday Hans News Service Vijayawada TheVijayawada circle general body meeting of the Canara Bank Syndicate Pensioners and Retirees Association (CBSPRA) was held here on Sunday. The meeting was organised by Circle Secretary D Seshagiri Rao, who welcomed the members and invited the dignitaries to the dais. V Krishna Kumar, zonal secretary (Hyderabad), presiding over the event, noted that CBSPRA has entered its 14th year, with over 16,000 members under the leadership of C Gangadhar Yadav (chairman) and K Suresh Babu (general secretary). He also said that a mass hunger strike-cum-dharna is scheduled at Indira Park, Hyderabad on August 5 led by AIBPARC AP and TS unit Secretary K Madhusudan. All India Bank Pensioners' And Retirees' Confederation (AIBPARC) national deputy general secretary KBG Tilak, who was chief guest, addressed key issues including pension updation, citing Regulation 35 (1) of the Bank Employees Pension Regulations, 1995 as amended and published in the Gazette in March 2003 and a pension corpus fund of public sector banks exceeding Rs 4.27 lakh crore as of March 2024, sufficient for implementing pension updation from March 1, similar to RBI Pensioners. On Medical Insurance, he said that IBA proposed revised base policies for retirees ranging from Rs 4 lakh to Rs 7 lakh, with Rs 3 lakh super top-up from November 1, 2025 to October 31, 2026. He reiterated AIBPARC's demand that the annual premium for base policy has to be borne by the banks. Senior members of CBSPRA aged 75 and above were honoured with a shawl and a memento. Pasupuleti Butchibabu, Zonal Committee Member, was also felicitated for mobilising 115 new members to CBSPRA in a span of two months. Regional Secretaries D Prabhakara Rao (Guntur) and Y Prasad (Ongole) also addressed the gathering. P Narasimha Rao proposed a vote of thanks. Around 60 members from various districts participated.
Hans India
13-06-2025
- Business
- Hans India
Bank Retirees Confederation demands pension updating
Vijayawada: All India Bank Pensioners' and Retirees' Confederation (AIBPARC) president KV Acharya provided a comprehensive overview of outstanding issues, particularly emphasising the critical matter of pension updating. While addressing the 5th Governing Council Meeting for 2023-26 here on Wednesday he highlighted significant achievements, including 100 per cent DA neutralisation for pre-November 2002 retirees, substantial improvements in family pensions, and the successful implementation of the health insurance scheme for retirees. Over 175 Governing Council members from across India, along with special invitees, attended the extensive deliberations on long-pending issues concerning bank retirees, stated KBG Tilak, vice-president of AIBPARC here in a statement on Thursday. Regarding pension updating, Acharya reiterated that a pending case before the Supreme Court is expected to be listed for a final hearing in July or August 2025. He expressed optimism for a favourable verdict, asserting that AIBPARC's case is robust, supported by clear statutory provisions under Regulation 35 (1) and 56 of the Bank Employees Pension Regulations, 1995. Acharya also stated that, irrespective of the court's decision, AIBPARC will vigorously pursue alternative avenues, including continued discussions with the Indian Banks' Association (IBA) and the Department of Financial Services (DFS) under the Ministry of Finance. He stressed the urgency of resolving these issues, noting that the number of retirees is rapidly decreasing due to advanced age, making immediate resolution crucial for due justice. Addressing concerns about the cost of pension updation and fund availability, Acharya assured members that the existing balance in the Pension Fund and annual accruals are sufficient to cover the expenses. A key decision taken at the meeting was to organise hunger strikes at various important centres across the country over the next two months. These strikes will culminate in a larger gathering in New Delhi, aiming at pressuring the government and the IBA for an expedited resolution of retirees' demands. Comprehensive report was presented by General Secretary Suprita Sarkar. R Sekaran, president of the All India Bank Officers' Confederation (AIBOC), also addressed the council.
