PRESS STATEMENT

We extend our total support and solidarity to the agitational programme and mass casual leave struggle by the entire employees and officers of Reserve Bank of India (RBI) in protest against the unilateral and unwarranted provocation of the RBI management in withdrawing the earlier decision of the Central Board of RBI providing for periodical updation and upgradation of Pension payable to the retirees as a consequence to wage revision extended to the working employees and officers.

The Pension scheme in RBI and commercial banks has been formulated on the lines of Central Government pension scheme which provides for such periodical updation of pension including in the recent VI Central Pay Commission. Further the RBI Pension Fund is a standalone fund without any contribution from the exchequer of the Government. Hence, the RBI’s action in withdrawing this benefit affecting the retired staff is unfair and unjustified. In this background, the protest action by the RBI staff has become unavoidable and inevitable.

All India Bank Employees’ Association (AIBEA) extends its solidarity to the protest programme by the RBI staff and is fully supportive of their genuine demand. AIBEA urges upon the Government and the RBI management to see reason and withdraw their instructions to reduce the Pension payable to the retired staff. Should the Government and RBI management persists with their unfair action and the RBI staff are required to continue their protest programme in future, AIBEA will also give supportive agitational programme in solidarity with the RBI staff.

(C.H. VENKATACHALAM)
GENERAL SECRETARY