RBI FORMATION DAY celebrated by RBICHENNAIFRIENDS Group

RBI FORMATION DAY

Celebrated at Marina Beach, Chennai on 1st April 2014 by

RBI Chennai Friends

Dear Friends,

You are aware that RBICHENNAIFRIENDS Group invited its members to assemble at Marina Beach at 5.30 p.m. on 1st April 2014 to celebrate  RBI Formation Day. We are extremely happy that more than 50 members turned out at very short notice. The cool and gentle evening breeze with the backdrop of roaring waves of the sea set the most conducive ambiance for the members to meet  and share their fond memories about the great institution they served. Members at large appreciated the proposal to organise such an event to show our gratitude to the great institution. 

Shri S.Venugopalan in his introductory speech praised the efforts of the moderator to convert his suggestion to a reality and shaping it to an impressive show. He said that completion of 80 years of age in the life of every Indian calls for a big celebration and in a similar way we should take today's event as a lead for planning the 80th Birthday of the Bank next year as a mega event. 

Shri Kurien Chacko entertained the gathering by narrating an incident that happened at the youth hostel recently and tactfully converted it into a brain teasing puzzle. Sri T.V.Mukundan's  Tamil Translation  of Chacko,s  narration made the memebrs roar with  laughter. 

Sri T.V.Subramanian had a great praise for the RBI. He said that most of the members present at the event belong to the batch of members who retired from the Bank between 1986 and 2004 who should consider themselves as a lucky lot. He said they could enjoy the benefits of many awards, settlements of wage revisions, perks and other facilities and more importantly the pension scheme. He added that the pension scheme enjoyed by us is not made available to the pre-86 retirees as well as post 2004 recruits. He wanted the moderator to forward a report and the photos of this get together to the Governor and  to ensure that the proposed 80th Birthday of RBI should be celebrated in a grand way involving the Bank's executives at the top most level. 

Shri Mushtaq Ahmed endorsed the views of Sri TVS about the greatness of the institution. He mentioned that we should feel happy as the prolonged struggle of the employees for restoration of Pension updation is coming to a close. He said that Updation of Pension has become certain and only the modalities of fixing formulae for the Basic Pension etc. is under negotiation by the United Forum. 

Shri S.M.Sendil draw a reference to the olden days of Sri Ashis Sen etc. where the service conditions were very poor. He said staff use to leave office only around 8.30 p.m and getting permission to leave office half an hour early for some valid reason was a herculean task. He praised the role of the Association which alone was responsible for bringing vast change in the system to a comfortable level. Sri Sendil also rightly stated that we should develop the feeling of contentment with whatever we are paid according to our times without making comparison with others. 

Shri V.Subramanian (Aranthai manian) recalled the day he joined the Bank after resigning his job from Lucas TVS for a salary difference of Rs.50 per month but got very much dejected when he was posted to claims section and asked to fill up Money Order forms.  He informed that he could realise later the great role of RBI in managing the monetary policy and currency management and that sending money thro' money order also was a part of the job. He said that he still cherish the days when he was actively associated with the Recreation Club and successfully organised a Chess tournament between the Indian Grandmaster Sri Viswanathan Anand and  32 Club members at a time. 

Smt.Uma Rajaram, a serving employee said that she came to RBI Chennai on a  transfer from Hyderabad office. She said she was overwhelmed by  the support and affection shown by Chennai colleagues. She felt sad that the warmth, love and bonding is missing in  the present set of  colleagues. 

Shri S.Sankaranarayanan appreciated the activities of the group and said that it was the Chennai group which has first posted a message in the Facebook  about the celebration of RBI formation day. 

Although Sri G.S.Shunmugam could not get his chance to address the gathering he was found cutting many jokes with the members there in groups. 

Shri S.Subramanian (German Subbu) attended the meet late and could not get his chance to address the gathering. At the same time  we should praise him for coming to Chennai from Bangalore to attend the event. 

Snacks and refreshments were served to all the participants. We convey our thanks to S/S. Janardhanan, Devarajan, Venugopalan and Logeswaran who assisted in organising the snacks and refreshments. 

Although we decided not to receive any payment from the members for this event some members have come forward with their voluntary donations. (S/S.T.B.Sathyanarayana, C.Murugan, K.Govindarajan, German Subbu and P.T.Veeraiyan) . We thank all of them for their gesture. The event was concluded around 7.15 p.m.

Yours dearly,

Chandraiah

Forwarded by Madan Gauria

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"If Government rules are brought in in support of updation, we have to accept that updation can take place only once in 10 years.  Shri Donde, quoting the late Governor, Shri R..N. Malhotra, has also agreed with this point. The rationale for updation of pension is that pensioners who had retired in a particular grade (regardless of the date of their retirement) have to be treated equally and paid the same amount of pension. If pay revision takes place,say, after 5 years, employees who retire after this pay revision would have to be paid pension on the basis of the revised pay which would inevitably result in an invidious distinction between pensioners (who had retired in the same grade) if updation of pension does not also take place after the pay revision. This is the reason why pay revision and pension updation have to go together and can take place only with the periodicity of 10 years. Furthermore, I had also mentioned in one of earlier mails that if the RBI have counted certain allowances for 'pay' and accordingly also for retirement benefits which are not in alignment with the Government rules, we have no alternative but to fall in line with the rules in the Government. 

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Also read - TOI Forwarded by Shri L.R.Parab