In case of RBI retirees, it is the Central Board of RBI who had passed a unanimous Resolution to extend the updation benefit to the Pensioners of RBI. The Board Resolution was sent to the Government of India for their approval. But Govt. Of India kept the Resolution under the carpet.
The aggrieved pensioners of RBI had filed a Writ Petition in Mumbai High Court seeking updation of pension as recommended by the Central Board of RBI. When Mumbai High Court sent a notice to the Govt. to file their counter, the Govt. reiterated the contents of the letter addressed to the Management of RBI. Court took a strong objection to this and stated that the Govt. stand tantamounts to interference in the Autonomy of RBI and the Updation of Pension to the pensioners should be considered immediately as prayed by the Petitioners.
As usual the Govt. moved the Supreme Court with an SLP challenging the orders of Mumbai High Court but the Supreme Court slapped on the face of the Govt by refusing to interfere in the orders of Mumbai High Court and ordered that the Updation benefit should be extended first and then only Govt can appear before the Supreme Court. Now the Updation benefit is being extended to RBI Pensioners wef 01.11.1997.
This stand of the Supreme Court has given a shot in the arm for us and this has strengthened our case.
Guest? Potential Sponsors? Questions? Get in touch.
General Insurance Pensioners Association
Sterling Cinema Building
3rd Floor, 65,