Both SBI and GOI cheated Retirees: Garg

SBI VRS 2017 Employees Association today accused State Bank of India for not fulfilling the various financial commitments towards the employees who opted for retirement under voluntary retirement scheme offered by the bank before merger.While adressing the media persons in chandigarh press club the association President Mr Yog Raj told that special allowances and DA thereon and HRA has not been included while calculating ex gratia amount while these were part of the salary. When the association asked for a copy of approved note for Voluntary Retirement Scheme framed for the merger of associate banks with SBI should be provided to the association immediately under RTI Act it was denied straightly.

Explaining the woes of Retirees Garg further said that their pension has not been revised even once since they have been retired, whereas the state govt and central government regularly revise the pension and other allowances. The humiliating attitude of the bank make them feel as if they have been forcibly thrown out of organization to which they had served for quite long.

Association also accused Government of India has also cheated the retirees of banks who retired between January 1 ,2016 to March 28 2018 by amending Gratuity Act w.e.f . March 29, 2018.The Ceiling amount has been increased from Rs 10 lakh to Rs 20 lakh with retrospective date January 1, 2016 for centre and state government employees as well as for RBI employees..

Mr Garg also demanded that the complete Form 16 for FY 2017-18 be issued so as to make the retirees able to file income tax returns before 31st july 2018.

On the behalf of association he further demanded the  entertainment allowance for the full year from March 2018 be paid to each retiree. The SBI has issued instructions on July 12, 2017 not to pay for full year while such instructions cannot be made applicable retrospectively after the retirement of employees retired between April 1, 2017 and July 12, 2017.
The other demands of the association are that LFC which was to be extended to clerical staff should now be extended without delay.
State Bank of India must immediately without discrimination release overtime compensation for the period of demonetization as SBI staff has already been paid.

Association threatened the management if their demands which are their rights are not met within the week they will be forced to protest at the gate of Local Head Office.