MEDICLAIM FLOATER POLICY

Sir,

In ref today's post on the sub. I have to say as under:-

The Mediclaim category of a retired employee will be the same as was at

the time of his retirement as envisaged in the CO Cir. Ref: CO/Per/ER-A/

CL22 Dt. 28.03.2014 stands already posted by u in the Chronicle.

I hope this will meet the purpose.

With regards,
K P Verma, Varanasi.



In response to Mr Ramachandra's query 
about the above subject, I wish to state that
there are three categories under the scheme 
which were existing prior to 1997. So
whatever category one belonged to before his 
retirement will continue to apply even
though the pay scales were not revised for 
pensioners. So if he was in category-1
he will continue in the same category
ABOOBUCKER,LONDON

YOUR QUESTIONS...

I am a retired A.D.M of L.I.C. having retired in December 1994. To day I saw the C O circular dated 28th April 2014 regarding the revised Sum Insured and the applicable premiums on the Mediclaim family floater policy for in-service and retired employees.

Both the S.A. and the premiums are given for the basic pay  as on date. But in the case of pre - 1997 retirees (I am one of them) the basic pay has not been revised after my retirement in 1994.  Can you throw some light on how to calculate the old basic pay and corresponding revised applicable basic pay as on date? Ramachandra KG.

Readers, PLEASE SEND IN YOUR RESPONSES.

CENTRAL OFFICE CIRCULAR ON MEDICLAIM FAMILY FLOATER POLICY

LIFE INSURANCE CORPORATION OF INDIA

CENTRAL OFFICE

Department: Personnel/ER

Yogakshema, Jeevan Bima Marg, Mumbai-400021

Circular No. CO/Per/ER-A/066/2014
28th April 2014

ALL OFFICES OF THE CORPORATION

Re: Premium rates for family floater policy & option for increased cover

under Groups Mediclaim  Scheme.

This is further to CO circular no.CO/PER/ER-A/058/2014 dated 04/03/2014 on revision in limits of cover under Group Mediclaim Scheme.

Our Group Mediclaim Policy covering in-service employee, retired employees and their dependents has been renewed for the year 2014-2015. Employees/Retired Employees and their family are covered by Family Floater coverage w.e.f. 01/04/2014.  The compulsory Family Floater Sum Insured and corresponding benefit category are as under:-

There is also provision of optional increased sum insured in which an employee can opt for increased sum insured (on floater basis) for Rs.4 lacs, 5 lacs, 6 lacs, 8 lacs, 10 lacs, 12 lacs, 15 lacs & 20 lacs (inclusive of the limits set out in Table above).

Sharing of premium between in-service/retired employees and the Corporation shall be only for compulsory family floater mediclaim cover.  While in case of in-service employee, sharing of premium will be for the employee, spouse and two dependent children, for a retired employee sharing of premium will be for retired employee, spouse and dependent disabled children.

1. Option for Additional Family Floater Cover.

This option for additional  floater sum insured is subject to the following conditions:

1.   It may be noted that in no case can total floater sum insured (compulsory + additional) exceed Rs.20 lakh.

2.    The last date for exercising option by employees/retired employees shall be 31^st May 2014. Option Form for increased Floater cover is enclosed.

3.    Risk under additional Floater cover (in excess of compulsory Floater sum insured) will start from 01/07/2014.

4.    The entire premium for the additional Floater cover shall be borne in full by the concerned employee/retired employee.

5.    The additional Floater sum insured shall also be applicable to the entire unit of family (employee/retired employee and family members covered under compulsory Family Floater cover).

6.    Employees/Retired Employees who were already covered for additional sum insured or employees/retired employees who have opted for additional sum insured from the policy year 2014-15 or desire to opt for additional cover are required to exercise the option afresh for Additional Floater cover with the desired cover clearly stated in the option form.

7.    In case of change in category of the in-service employees because of change in their Basic Pay, the additional floater sum insured can be reduced but total floater sum insured (compulsory + additional) shall not be reduced from total floater sum insured available in previous policy year.  For example: An employee falls under category II and having total floater coverage of Rs.10 Lakh (compulsory : Rs.4 Lakh + additional: Rs.6 Lakh).  On next renewal he/she will fall under category I because of change in his/her Basic Pay.  Then he/she shall be covered for compulsory and additional floater cover of Rs.6 Lakh and Rs.4 Lakh respectively.

8.    The option for increased Floater sum insured shall be available once in a period of three policy years.  To clarify, those employees/retired employees who do not opt for increased Floater sum insured will not be eligible to exercise the option for increased Floater mediclaim coverage in the next two renewals of Mediclaim Policy.

9.    Once an employee/retired employee opts for increased Floater sum insured, he/she will not be allowed to lower the total Floater sum insured.  However, he/she can reduce the total Floater sum insured proportionately to the next available total  Floater sum insured on exit of any member by way of death/ineligibility but compulsory Floater sum insured will remain same.  For example: if any family of four members is covered for total Floater sum insured of Rs.20 Lakh and one member exits  due to his/her ineligibility on next  renewal, employee can reduce total Floater cover from 20 Lakh to 15 Lakh.  For the same coverage if number of members is 5 then proportionate reduction in total Floater cover on exit of one member will be Rs. 4 Lakh but cover for Rs.16 Lakh is not available.  Therefore, employee will have to go for next available total Floater cover of Rs.20 Lakh.

You are advised to ensure that retired employees and spouse of deceased employees/retired employees are informed about the premium rates and availability of the option for increased Floater sum insured.

2.  Premium – Family Floater Mediclaim Cover.

The annual premium chargeable per person for various age bands and total Family Floater sum insured for the policy year 2014-2015 in Table A & B are as follows:

Premium for additional Floater cover (in excess of compulsory Floater sum insured) is to be calculated and collected from employees/retired employees for 09 months on pro rata basis.  In case of in-service employees, deduction for the premium of additional Floater cover shall start from the salary for the month June 2014.

Illustrations for calculating premium.

1.  Total premium of a family which is covered for compulsory Family Floater sum insured of Rs.4 Lakh and subsidy in premium are given below in Table:

2. An employee and his/her family is covered for compulsory and Optional additional Floater cover for Rs.600000/- and Rs. 900000/- respectively.  Therefore, increased Family Floater Cover will be Rs. 15 Lakh.  Calculation of total premium and subsidy in premium are given below.

3.  A retired emplkoyee and his/her family  is covered for compulsory and Optional additional Floater cover for Rs.300000/- and Rs.1700000/- respectively.  Therefore, increased Family Floater Cover will be Rs.20 Lakh.  Calculation of total premium and subsidy in premium are given below:

3. Mediclaim Data and statements.

The data of all beneficiaries as on 01/04/2014 is essential for finalization of the premium.  All the Zonal Offices are required to provide the updated data of the beneficiaries for Compulsory Floater Cover as on 01/04/2014 in enclosed Excel formats (Annexure – I) and consolidate the same in (Annexure – A) and submit the same to Central Office by 24/05/2014.  The data of beneficiaries, who have opted for increased floater cover, needs to be submitted separately in the same Excel format (Annexure – I and  Annexure – A) by 16/06/2014.

3. Claims Data

In addition to this, all the Divisional Offices are required to maintain records for claim payments in enclosed Excel format (Annexure – II).  Data for claim paid and pending (soft copy) is to be sent to the respective Zonal Office.  The Zonal Office will consolidate the data for all the offices under its jurisdiction and submit it to Central Office as follows:

It is to be brought to the notice of all the members of scheme that intimation of claim should without fail reach the office within 7 days of admission to hospital and the claim must be filed within 20 days of discharge from the hospital.

MEDICLAIM FAMILY FLOATER POLICY CIRCULAR

MEDICLAIM FLOATER POLICY CIRCULAR WILL BE UPLOADED AS SOON AS BROADBAND SERVICES ARE RESTORED. WE ARE SORRY FOR THE INCONVENIENCE CAUSED TO OUR ESTEEMED READERS.

FINISH? LIC PENSIONERS CHRONICLE
about to finish 4 lac page views...

Reserve Bank News

It is learnt from very reliable sources that United Forum Leaders met the Reserve Bank 

today ( 28-04-2014 ) morning and conveyed their approval in respect of Pension Updation etc.

United Forum is likely to issue a circular soon.

await the details.

congrats! AIRBIOPF

____________

* Neha,calicut.

EARNING FOR PEACE OF MIND

'Facebook Stories'

Once a fisherman was sitting idle near seashore, under the shadow of a tree. A businessman passing by approached the fisherman and enquired why he was sitting there idle and not working. Fisherman replied, he had caught enough fish for the day.

Hearing this businessman got angry: "Why don’t you catch more fish and not sit idle wasting your time" ?

Fisherman asked: "What would I do by catching more fish?"

Businessman:"You could catch more fish, sell them and earn more money, could buy a bigger boat!".
Fisherman: "What would I do then?"

"You could go fishing in deep waters, catch more fish and earn more money".
"What would I do then?"

"You could buy more boats and employ more men to work for you, earn more money".

"What would I do then?"

"You could become a rich businessman like me".
"What would I do then?"

"You could then enjoy life peacefully".

"Enjoying life peacefully?" 
Fisherman said: "Isn’t what I am doing right now? 
I have peace of mind. I am enjoying life!"

Moral – You don’t need to wait for tomorrow to be 

happy and enjoy life. You don’t even 
need to be rich to enjoy life. 

LIFE is right here at this moment, enjoy it fully.

"Richness consists not in extent of  possessions 

but in the fewness of one's wants”.

RK VISWANATHAN

We are waiting for the court to take up our case.  Wait! What an agonizing thing for elders to do. More so to those who are litigants spending their hard earned money. Should the court require such a long summer vacation when all other institutions barring the academic one....  Should not the nation rethink especially when crores of cases are piling up in the court. Should the adjournments be too long ? Why not an adjourned case come up for hearing no sooner the court opens ? We are again not sure whether the adjourned case will end in finality, I doubt as we have seen judges coming to the bench for hearing do not come fully prepared to have a grip of the suit. So ball is getting tossed from one court to another convenient way of passing the buck. 

Too many cases and too little time to read the plaint could also be the reason for the happenings. Therefore the order passed some time is brutally brief sans any clarity and the sitting judge ordering for clarification ! The same suit being heard on different occasion by different judges add to the confusion.

Now the confusion is overtaken by worry as many who are in the sun set of their life live in premonition whether he would survive till the court wrangling are over and they could enjoy the fruits of success.

Worry is the worst thing to unnerve us and reduce our quality of life and has a debilating influence on our health. 

Let there be any number of adjournments and let there be any number of high profile Lawyers ganging up at the expense of Policy holders money, be there be not any worry to us for law cannot be turned topsy turvy and one cannot tinker into it as he likes for ultimately justice will prevail and truth will triumph. So have patience.

Sathayameve jayathe.

INDIAN ELECTIONS - GREATEST SHOW ON EARTH

It is truly the greatest show on Earth, an ode to a diverse & democratic ethos, where 700 million + of humanity vote, providing their small part in directing their ancient civilization into the future. It is no less impressive when done in a neighborhood which includes de-stabilizing & violent Pakistan, China, and Burma.

It's challenges are immense, more so probably than anywhere else, particularly in development & fending off terrorism -- but considering these challenges & its neighbors, it is even more astounding that the most diverse nation on Earth, with hundreds of languages, all religions & cultures, is not only surviving, but thriving.

The nation: where Hinduism, Buddhism, Jainism & Sikhism were born, which is the second largest Muslim nation on Earth; where Christianity has existed for 2000 years; where the oldest Jewish synagogues & Jewish communities have resided since the Romans burnt their 2nd temple; where the Dalai Lama & the Tibetan government in exile reside; where the Zoroastrians from Persia have thrived since being thrown out of their ancient homeland; where Armenians, Syrians & many others have come to live; where the Paris-based OECD said was the largest economy on Earth for 1500 of the last 2000 years, including the 2nd largest, only 200 years ago; where 3 Muslim Presidents have been elected, where a Sikh is Prime Minister & the head of the ruling party a Catholic Italian woman, where the past President was also a woman, succeeding a Muslim President who as a rocket scientist is a hero in the nation; where a booming economy is lifting 40 million out of poverty each year &

is expected to have the majority of its population in the middle class already, equal to
the entire US population, by 2025; where its optimism & vibrancy is manifested in its movies, arts, economic growth & voting, despite all the incredible challenges & hardships; where all the great powers are vying for influence, as it itself finds its place in the world. 

Where all of this is happening, is India and as greater than 1/10th of humanity gets ready to vote, it is an inspiration to the entire World.

— V Mitchell, New York, NY ('NEWYORK TIMES')

(Selection: CH Mahadevan)

ZONAL MANAGER (SELECTION GRADE)

ALSO GIVEN LIST OF CHIEF ENGINEER

Click below for list - PROMOTION AS ZM (Selection grade)

ZONAL MANAGER (ORDINARY SCALE)

Click below for list - PROMOTION AS ZM (ordinary scale)

ZONAL MANAGER (GRADE ONLY)

Click below for promotion list - PROMOTION ZM's grade but will continue as SDM

CHIEF ENGINEER/CHIEF ARCHITECT

Click below for promotion list CHIEF ENGINEER/CHIEF ARCHITECT

SENIOR DIVISIONAL MANAGER

Click below for promotion list to the post SENIOR DIVISIONAL MANAGER

DIVISIONAL MANAGER

Click below for promotion list DIVISIONAL MANAGER

CENTRAL OFFICE: PROMOTION TO THE POST OF AO/BM

Please click below. CENTRAL OFFICE LIST.

WESTERN ZONE

Click below for Western Zone list.

NORTHERN ZONE

Please click below for Northern Zone list.

EAST CENTRAL ZONE

Click below for East Central Zone list.

EASTERN ZONE

Click below for Eastern Zone list.

SOUTHERN ZONE

Click below for Southern Zone list.

SOUTH CENTRAL ZONE

Click below for South Central list.

CENTRAL ZONE

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NORTH CENTRAL ZONE

click below for North Central list.

ASST.DIV.MANAGER/SR.BRANCH MANAGER

Click below for list ASSTT.DIV.MANAGER/SR.BR.MANAGER

Recently, one person was admitted to a nursing home due to severe chest pain. He had an earlier attack in 1997 and was under treatment. The doctors now suggested Angiography.

• Upon undergoing Angiography, Doctors diagnosed multiple blockages for which Angioplasty was ruled out and instead, suggested 'Bypass Surgery'.

• That evening, he was brought home as doctor suggested his heart being very weak, bypass can be performed only after 15 - 20 days.
• Meanwhile, whilst discussing the matter with relatives and close friends, fresh information came from a family friend.
• A new treatment known as  ChelationTherapy has been introduced into the Indian medical theatre.
• With this therapy, a patient who has to undergo by-pass need not do so.
• Instead, the patient is given about 18 bottles of blood in which certain medicaments are injected. The blood cleans the system and removes all blockages from the heart and arteries. The number of bottles given may increase depending upon the age-factor and health of patient.
• Cost per bottle may be around Rs.2,500/- Treatment takes about a month.Currently, only a few doctors in India specialise in this field.

I reproduce an article on the subject which deals with latest research made on the subject.

CH MAHADEVAN

Hyderabad.

"Chelation Therapy:

Unproven Claims and Unsound Theories" 

Saul Green, Ph.D. 

Please click below.

GROUP MEDICLAIM POLICY RENEWED - DETAILS AWAITED

Dear Sir,
Please note that we have been informed by CO that the Group Mediclaim Policy for the year 2014-15 has been renewed with New India and the Policy Number is as given below. Other details are yet to be received.

Policy No. : 12070034140400000002
Period : From 01-04-2014 To 31-03-2015

Thanks and regards,

P.Usha Devi, AO - OS/P Zonal Office.

RTI APPLICANT'S ADDRESS NOT NECESSARY - GOVT ORDER ISSUED

No. 1/31/2013-IR 
Government of India Ministry of Personnel, 
Public Grievances & Pensions Department of Personnel & Training

North Block, New Delhi,

Dated the 8'“ January, 2014

OFFICE MEMORANDUM

Subject : Order dated 20.11.2013 of the High Court of Kolkata in Writ Petition No. 33290 of 2013 in the case of Mr. Avishek Goenka Vs Union of India regarding personal details of RT] applicants ~ circulation of.

In compliance of the directions of the Hon'bie High Court of Kolkata in its said order, a copy of the judgement (order) is enclosed herewith for appropriate action.

2. This may be brought to the notice of all concerned.

20.1]. 2013

w.P. sazeom) of 2013

Mr. Avishek Goenka petitioner (in person).

Mr. Asish Kumar Roy,

Ms. Gargi Mukherjee For the respondents.

The petitioner is appearing in person.

The writ petitioner claiming to be an activist in the field of right to information, has approached us by filing the present writ petition with the prayer, the authority should not insist upon the detailed address of the applicant as and when any application is made under the Right to Information Act. He apprehends, the interested parties would cause a threat to the activist and in fact there had been past incidents of unnatural deaths of activist in the field, presumably by the interested persons having vested interest to conceal the information that is asked for by the activist.

The petitioner submits, the authority may not insist upon the detailed address particularly when the applicant would provide a particular post box number that would automatically conceal their identity to the public at large.

We have considered the relevant provisions of the statute. Section 6(2) of the Right to Information Act, 2005 would clearly provide, an applicant making request for information shall not be required to give any reason for requesting the information or any other personal details except contacting him.

those that may be necessary for -
Looking to the said provision, we find logic in the submission of the petitioner. When the legislature thought it fit, the applicant need not disclose any personal detail, the authority should not insist upon his detailed whereabouts particularly when post box number is provided for that would establish contact with him and the authority.
In case, the authority would find any difficulty with the post box number, they may insist upon personal details. However, in such case, it would be the solemn duty of the authority to hide such information and particularly from their website so that people at large would not know of the details.

We thus dispose of this writ petition by making the observations as above. The Secretary, Ministry of Personnel should circulate the copy of this order to all concerned so that the authority can take appropriate measure to hide information with regard to personal details of the activist to avoid any harassment by the persons having vested interest.

The writ petition is disposed of without any order as to costs. Urgent certified copy of this order, if applied for, be given to the parties, on priority basis.

(Banerjee, Acting Chief Justice}

(Debangsu Basak J.)

QUERY FROM A BANK EMPLOYEE

Sir,

This is regarding retirement of Mr. Muralidhar Gupta's case in which he got all the benefits as per Jaipur HC decision.

As per court decision he was to be retired on month end so he got all the benefits. Is this implemented to all the employees of LIC? Please let me know.

Could you please also provide me copy of Muralidhar Gupta's case decision. We want to get the benefit of this court decision for the bank employees.

Thanks & Regards,

Poonam Jalan

Bank of India, Jodhpur Ind Area Branch

Jodhpur, Rajasthan

Mobile # - 09799825415

____________________

Poonam Jalan's mail is being forwarded to Shri HK Aggarwal from whom a reply could be expected.-Ed.

It is a very laudable effort on the part of the three different pensioners Associations of the nationalised banks sinking the egos and dogmas keeping in view ONLY THE WELFARE OF ALL THE BANK PENSIONERS paramount. 

We do not know the amount of hard and tireless home work put in by the Leaders in garnering the support of all the three Associations for the common cause which I believe will definitely bring about very good results for the benefit of all the Bank Pensioners. This is certainly worthy of emulation by our own Associations.

I only wish and request the worthy Leaders of the three LIC Pensioners Associations to initiate such a laudable move in our industry for the common welfare of all LIC Pensioners before long.

ABOOBUCKER, London

Dear Editor,

• Two lakh visitors to Chronicle within five months goes to show how popular is the Chronicle, the mouth piece of pensioner's fraternity. Being a single man's venture working round the clock unmindful of the  *expenditure, your service to the pensioners is highly commendable and deserves all accolades.I wish in the days to come your Blog will cover wider spectrum of topics and activities concerning the pensioners.

• Wishing you many more feathers to your illustrious cap.

R.K.Viswanathan

_____________________

*No money spent, only energy expended...

RE. JOINT MEMORANDUM / APPEAL ON COMMON ISSUES
OF BANK RETIREES.

We were making efforts to submit joint memorandum / appeal on the important and common demands of the retirees on behalf of three main retiree organisations operating in the banking industry namely, All India Bank Retirees’ Federation (AIBRF), Federation of SBI Pensioners Associations and All India Bank Pensioners and Retiree Confederation to the government and other concerned authorities to show the unity among bank retirees and to work untidily to achieve them. We wish to inform you that we have finalised the joint memorandum and signed it along with the above referred two retiree organisations at Delhi on 16th April 2014. The same will be submitted to Banking Secretary, IBA and UFBU and further joint follow-up will be done as and when needed . It is an important move towards developing coordination among retiree organisations.

SC JAIN, GENERAL SECRETARY

All India Bank Retirees' Federation

__________________

 Owing to technical reasons, we are not reproducing the joint memorandum. -Ed.

We release 
the following mails

THANKS FOR YOUR * REMEMBERING AND ACKNOWLEDGING MY LITTLE CONTRIBUTION IN THE SUCCESS OF NOW THE MOST SOUGHT FOR BLOG IN THE MORNING BY RETIRED INSURANCE  EMPLOYEES. IN FACT IT IS YOUR DEDICATION AND COMMITMENT, PROMPTNESS & RELIABILITY AND OF COURSE CONTRIBUTIONS BY MANY OF OUR LEARNED FRIENDS AND ALSO THE ANXIETY & DEMAND OF PENSIONERS  THAT WILL CONTINUE TO ENCOURAGE & INSPIRE YOU TO CARRY ON THIS NOBLE & DIGNIFIED SERVICE. WITH BEST WISHES AND REGARDS,

H K AGGARWAL

MOHALI, CHANDIGARH

2 lakhs of visitors to CHRONICLE Within 5 months!

It is an extraordinary achievement. Congratulations to you on 

this fantastic feat. Reading Chronicle everyday has become a 

value added 

necessity besides our morning coffee and newspaper to 

thousands of LIC Pensioners. The apt and beautiful illustrations 

in the Chronicle besides the interesting news has enhanced the 

value of the 

Chronicle in the minds of the Pensioners fraternity.

Looking forward to reverting to you on your reaching the 

magic figure of 4 Lakh visitors before long. 

With best wishes for your selfless service 

in the cause of LIC Pensioners.

ABOOBUCKER,London.

Dear Sri Gangadharan, 

I am happy to note that the LIC PENSIONERS CHRONICLE has successfully 

completed two years of useful service to the community of LIC pensioners. 

You have provided an objective forum for interesting interaction on topics 

of interest to the pensioners as a class. Important legal issues before the 

courts have been debated upon by enthusiasts and professionals in the field, 

elucidating and enlightening the various intricacies and complexities for the 

benefit of everyone of us. We are deeply beholden to you for this service ! 

My hearty congratulations to you ! May the CHRONICLE grow from strength 

to strength in the years to come ! 

With warm regards, 

A.BALASUBRAMANYA 

Bengaluru

______________________
* Shri Aggarwal had suggested us to come out of 'Calicut' which resulted in changing
the title to 'Chronicle'.

DOCTOR AND THE PATIENT by Basudeb Das,Kolkata .... Really super and our whole family enjoyed it. R.S.SUBRAMANIAN.

DOCTOR AND THE PATIENT

A Doctor opened a Clinic and wrote outside the Clinic: “Any treatment: Rs.100 only. Rs.200 returned if patient not cured."

A Patient came with  intent of fraud and get Rs.200
from the Doctor. 

He said "Doctor, I can't feel any taste on my tongue”.
Doctor asked the Nurse to put few drops of medicine from box No 22.

After that, the Patient shouted: "Oh my God, its very bitter”.

lost!

Doctor said : “Congratulations ! Your sense of taste is back now”.
The Patient was sad, he lost Rs.100.

After two weeks, Patient came back again, hoping to play the trick and get Rs.200.

Patient: "Doctor I have lost my memory." 
Doctor: "Nurse! Please put some drops of medicine from Box No 22 on his tongue”.
Patient: "Wait doctor, but that medicine is for sense of taste”.
Doctor: "Congratulations ! your memory is back again”. 

- Basudeb Das, Kolkata

                  

                                                             

As the pension scheme in Public Sector Banks 

is, by and large, a carbon copy of the RBI pension 

scheme, the pattern of up-dation accepted there

may be made applicable to us also, writes 

Shri BG Raithatha, Union Bank Retired Employees' 

Association, Rajkot.

(Write up by Shri Mahalingam, Principal Chief General Manager, Financial
Markets department, RBI, Co, Mumbai is reproduced 
for general reading of LICPC readers)

Dear All

You may perhaps be surprised to receive this mail from me, as it is a slight departure from the tradition of receiving communication from the General Secretary or other functionaries. But I thought there was a need to share my thought process given the importance of the issue on hand.

The Pension issue has come to the fore once again ever since the Governor called the United Forum for a meeting last week. There has been a wide spectrum of opinions on the issue, not very often driven by practicality, rationale and common sense. I do see a streak of high emotions, sometimes bordering on dogmatism not to see the writing on the wall. I thought it was time to add my perspective to the issue. While I do not expect that everybody should subscribe to this perspective, I feel it is time for each of us to ponder over the issue.

At the outset, we need no appreciate that this issue has been evading solution for a long time thanks to the historical ‘baggage of commissions and omissions. We did garner quite a bit of support from our Central Board members as well as Top management thanks to the orderly and disciplined manner in which we conducted our silent protests just ahead of our Central Board meetings in the last couple of years. While a good number of Central Board members were sympathetic to our cause, the issue remained unresolved thanks to the intransigence of the GoI nominees on our Board.

The issue got a fresh lease of life with our present Governor taking the bold initiative of breaching it directly with the Finance Minister at the Delhi board Meeting. This has brought forth the present offer from the GoI although it does look quite fuzzy. Governor mentioned during the meeting with the United Forum that this was about the best that he could get but the fuzziness of the conditionalities does leave scope for squeezing the best out of the offer.
What has been majorly agitating the minds of our officers are: 1. the frequency of wage agreement for the serving officers, 2. the definition of pay for the purpose of pension and 3. rationalisation of perks for serving officers. The condition of updation being done once in 10 years has not met with much criticism, so I am leaving it out of the present discussion.

On the frequency of wage agreement, I am not at all convinced that a wage agreement once in 5 years is necessarily more beneficial than a wage agreement once in 10 years. Why are we refusing to look at the magnitude of wage revision? Are we better off with a wage revision of 15 to 16% hike once in 5 years than, say, 40 to 50% in 10 years? The numbers that I have quoted here are not out of alignment with what we have been getting in the past and the G0I officers have been getting out of Pay Commissions once in 10 years. In fact, I feel our emphasis should be on the quantum of hikes (which is a clear function of our strength, bargaining capacity as also the image of the organisation) rather than the frequency of wage revision. Just to exercise our minds more on this subject, are we going to be happy if we are offered pay revisions once every two years with a hike of 5%? So, basically, it is not the frequency which matters but the extent of hikes.

Also, let us not forget that the perks have been revised reasonably more frequently as and when the conditions of the economy underwent changes and these perks have enhanced the quality of our living conditions. There is no reason to fear that the independence of the Governor is going to be curtailed in the matter of perks. Given the increasing stature of Central Banks, I doubt if any Government can curtail the independence of the Governor in times to come. 

Now, coming to the question of definition of pay, we need to be realistic. lf basic pay and grade pay are reckoned for fixing the pension, the larger components are already taken and what get left out are the much smaller components. I have done some calculations in this regard and I find that the components that get left out actually constitute just about 5 % of the basic + grade pay. Of course, this percentage could vary from officer to officer depending upon his basic pay and grade pay at the time of his retirement. We need to weigh this loss against the gain arising out of updation of our pay once in 10 years, which could be as much as 100%. I think we need to ponder over this quite dispassionately.

Third is the matter of perks. There is a fear (may be, legitimate) that rationalisation of perks means reduction and nothing else. lf we compare our perks today with the industry or with GoI (where a Joint Secretary gets car with unlimited petrol), nobody can say that RBI 's perk structure is far superior to others. We are just comparable to others and not certainly better off. I am told that many Oil companies have better perk structure compared to RBI but this needs to be verified. But if at all there is a pressure to show rationalisation, we can always give up the smaller ones like newspaper, brief case, specs, book grant, etc. and tell the Government that we have rationalised and focus on improving the larger components (in the present pay revision due from Nov. 2012). This certainly is largely dependent on our capacity to do homework and engaging in constant dialogue with the Governor in future. 

I certainly do not subscribe to the idea that the Central Government will keep interfering, in future, with the process of determination of our perks. Let us not, in any case, be submerged in imaginary fears that the Central Government is the personification of Takru and vice versa!!.

Given this backdrop, if we are slamming the door closed on this present offer and reject it outright, let us be clear about what we are in for:

1. There is no way that this issue will come up for the next , at least, one year, as the new Government (if it is stable) will have so many items on its plate that this will, if at all, be the last item in their agenda.

2. We will lose the sympathy of our Central Board members.

3. The Top management may not evince me same enthusiasm to take up the issue in future as they have done so far.

In my view, therefore, a more prudent and strategic course, would be to accept the offer saying that we would like to have a dialogue with the Governor on the nature of conditionalities and their implementation. I am aware that you will ask the question that this will tantamount to a break-off with United Forum. Not necessarily. We can convince them as they do not have much stake in the form of perks. But if they are not to be convinced, perhaps, we may have to chalk out our own path. Let us be clear here.

I have told Mr. Vatsa that we can have a meeting of the Committee with all the units participating, shortly in the second week of April, say around April 10th. In the meantime, let me have your dispassionate views on the subject.

Best regards

G. Mahalingam

Principal Chief General Manager, Financial

Markets department, RBI, Co, Mumbai