FINANCE MINISTRY'S COUNTER AFFIDAVIT
- "(VI)That the above proposal was considered in the Department in consultation with Banking division who had informed that any modification with regard to upgrading or change in the dearness relief formula in the insurance sector may have repercussion on public sector Banks as well as other financial institutions and advised this Division not to agree to the request made by LIC and to continue to maintain parity with regard to dearness relief with the public sector Banks. Hence, the proposal of LIC as per their Board Resolution was not agreed to.
- vii)That on this issue, replies were also given by the Finance Minister to various reference from Members of Parliament stating that “the insurance employees pension rule is broadly based on the pension rule of banks employees and since no change has taken place in the pension rule of the bank employee, it would not be appropriate to change the rule for the insurance employees, as the same would cause ripple effects in the banking and other similar sector. "
Though these exposures by the Under Secretary, Ministry of Finance have no relevance to LIC pensioners case and HC Jaipur verdict, BUT the same do exhibit the arrogant and stubborn attitude of the Central Govt. particularly the FM towards just and legitimate demands of pensioners of LIC which have been accepted and held lawful by various High Courts of the country (and the same situation is for Bank pensioners also).
About an year back I had also sent a request letter to about 600 MPs including ministers, but none had responded as they know that pensioners are incapable of creating any nuisanse because of their patriotic nature and advanced age and does not have much effect on their elections. Any way we have to continue our legal fight with high spirits till we get full justice.
HK AGGARWAL
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* Letter written to Shri K. Satyanarayana,
Retd.Manager, Indian Bank, Vijayawada.