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*****CURRENT NEWS******
Today In the afternoon discussions on other

demands of workmen and officers were discussed.
Next week negotiating committee meeting will be held
and pay scales etc will be discussed.
Today morning IBA & UFBU meeting took place
wherein all details of proposed new medical reimbursement scheme
was discussed.
Scheme will be finalized shortly.
For retirees also we have asked iba to workout
a similar scheme.

10.04.2015: Update on B.P.S.:
Sub committee meeting on medical reimbursement is scheduled
to be held on 16th April at 11.00 am.
Meeting with workmen unions will be held at 2.00 pm
(News from BEFI)
* 23.02.2015: Wage revision settled at 15%(4725 Cr.)
and 4th Saturdays will be Holidays.
Other Saturdays are full working day.
Four days strike deferred.
Detailed circular follows.

*Consumer Price Index number for Oct,Nov,and Dec. is 253.
0.34 point over average of last quarter.

Hence D.A from Feb 2015 to Apr.2015 is 734 slabs(+2slabs)
i.e 110.10% (+0.30%)
* Revised LFC encashment amount from 25.06.2014!

*Compassionate appointment for Bank Employees
restored from 05.08.2014!
Legal heirs can opt for either employment or ex-gratia !

Friday, November 4, 2011




Here is the news about revision of pension for retired LIC employees.

Rajasthan High Court today (i.e. 02/11/11)granted four weeks time to LIC to comply with its earlier order directing the company to implement a November 2001 board decision to revise pension and dearness allowance of its retired employees.
Hearing a contempt petition, the single bench of Justice Mahesh Chandra Sharma directed the LIC to revise the pension and DA payable to its retired employees corresponding to the successive revisions of pay scales that took place in 1986, 1993, 1997, 2002 and 2007.

Counsel for LIC Ajay Tyagi prayed before the court to grant four weeks time to comply the order. The court, however, directed A K Das Gupta, Managing Director LIC and D Vijaylaxmi, Executive Director (personal) to remain present before it on December 1 in case the order is not complied with. The order came on a contempt petition filed by petitioner Krishan Murari Lal Asthan. The board resolution was passed to meet the demand of parity in pension raised by the All India Retired Insurance Employee's Association. Retired employees of LIC across the country are drawing pension based on the last pay at the time of their retirement. The "inaction" of the the LIC in implementing the board decision was challenged by Krishan Murari Lal Asthan, General Secretary of Retired Insurance Employees' Association of LIC. The LIC board did not implement the resolution on the ground that the Finance Ministry has not given its approval. Disposing of the writ petition filed by Asthana, single judge bench of Justice Munishwar Nath Bhandari in its order dated January 12, 2010 had asked LIC to take immediate steps to implement the resolution of LIC board and held, "In the present matter, there was no reason to seek approval of the central government". The SLP filed by the LIC was also dismissed by the Supreme Court and subsequently the division bench has also dismissed a review petition filed by LIC but still the order of High Court was not complied with.
Source : PTI

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