SBI is the source of RBI’s wrath on delayed pension payments

A complaint forwarded to the RBI by a retired government officer regarding SBI’s extensive delays in pension payments gets the central bank to take notice and undertake review of the lender’s systems

Moneylife had revealed yesterday (see here) that the Reserve Bank of India (RBI) has reprimanded pension-paying banks for delaying payments to pensioners and directed them to make good the dues immediately, along with penal interest.

It turns out that the reason RBI woke up is that a complaint was forwarded by a former highly-placed government officer to the deputy governor of the central bank, outlining the shoddy service given by the country’s largest lender, State Bank of India (SBI), in the form of extensive delays in pension payments.

This former officer had apparently been kept waiting unsuccessfully for ten months to receive his revised pension under the Sixth Pay Commission. This complaint forced the RBI to take a deeper look at the systems put in place by SBI for pension payments. A joint team drawn from both RBI and SBI investigated the matter and found various discrepancies in the way things were being administered.
The Investigation Report finds that apart from the complainant, there were at least 1,800 non-state resident pensioners who were denied the revised pension payment for months together. Taking a serious view of the matter, the RBI has put in a strongly worded letter to the chairman of the bank questioning the lack of customer sensibility despite being a premier bank in the public domain. It has pointed to the absence of an effective system of customer service at the branch level where pensioners normally interface with the front office.

This also forced the RBI to inspect the system at other Agency Banks making pension payments. The findings were more or less the same across all Agency Banks.

In view of the above, the RBI has advised these banks, including SBI, to undertake review of the system of attending to customer service and have a pension accounts guide at all branches to assist the pensioners in all their dealings with the bank. Additionally, the RBI has demanded that suitable arrangements be made, to place on the bank website details about the pension calculations, and made available to the pensioners at periodic intervals with sufficient advertisements to that effect.

As with the other banks, RBI has demanded that SBI make the payment of the revised pension and arrears within 15 days from the date of receipt of its communication to that effect. Additionally, it has also advised the bank to make a penal interest payment of 2% for any delay beyond the due date, which is to be credited to the pensioner’s account automatically without any claim from the pensioner on the same day when the bank affords the credit for revised pension or arrears.

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COMMENTS

Narendra Vasavada

5 years ago

R/Sir,
We retired BSNL GUJ.Employees the pension cr.through SBI bank Amreli Guj. our complaint that recently enhance IDA 52% but not credited individual bank a/c. where as Post Offices have been credited since two month ago. please take attention for release immediately.

prabha shankar prasad

7 years ago

My mother is pension holder State Bank Of India Daudnager Branch A/c No
11436612338.Bank trouble,my mother is 87 years old not move any time
alone.Please rectified my mother problem earlier.
As per office memo fiction given below:-
Basic fem pen Rs - 1450.00
61% Relief Rs - 885.00 up to 31/03/2004
-----------------------------
Total - Rs - 2335.00 w.e.f. 95/03/2004
* + 50% Dearness Relief Rs - 725.00 i.e Rs - 1450.00+725.00= Rs -
2175.00 and 11% Relief w.e.f 01/04/2004.
But S.B.I. Daudnager branch pay Rs 2335.00 per month up to 05/03/2004
to 31/10/2008 no Dearness add to pension amount.
2nd memo is payment medical allowance w.e.f. Dt - 01/03/2004 Rs - 100
per month uo to 28/02/2008 and w.e.f. Dt - 01/03/2008 Rs - 500.00 per
month but not payment till Dt.
3 rd memo 6th pay arrear payment pension fixation pay not payment till
Dt.
kindly release all payment earlier.
Raj Mati Devi. wife of late (Ram Deo Ram)
At+Po KALER, Dist - ARAWAL (BIHAR) pin 824127

Raj Mati Devi

7 years ago

My mother is pension holder State Bank Of India Daudnager Branch A/c No
11436612338.Bank trouble,my mother is 87 years old not move any time
alone.Please rectified my mother problem earlier.
As per office memo fiction given below:-
Basic fem pen Rs - 1450.00
61% Relief Rs - 885.00 up to 31/03/2004
-----------------------------
Total - Rs - 2335.00 w.e.f. 95/03/2004
* + 50% Dearness Relief Rs - 725.00 i.e Rs - 1450.00+725.00= Rs -
2175.00 and 11% Relief w.e.f 01/04/2004.
But S.B.I. Daudnager branch pay Rs 2335.00 per month up to 05/03/2004
to 31/10/2008 no Dearness add to pension amount.
2nd memo is payment medical allowance w.e.f. Dt - 01/03/2004 Rs - 100
per month uo to 28/02/2008 and w.e.f. Dt - 01/03/2008 Rs - 500.00 per
month but not payment till Dt.
3 rd memo 6th pay arrear payment pension fixation pay not payment till
Dt.
kindly release all payment earlier.
Raj Mati Devi. wife of late (Ram Deo Ram)
At+Po KALER, Dist - ARAWAL (BIHAR) pin 824127

Dipak Kumar Adhikari

7 years ago

Kind Attention
To,
The Incharge, S.B.I. Anti Corruption Department.
Please help me. If required please send this mail to appropriate authorities. Mr. Shankar Kumar Samanta S.B.I. Officer purchased local Police, Please help me.
Respected Sir,
100% now I believe that if you have money then you can get anything, every thing is possible by you. If you are a poor then you can’t get anything, every thing is far and beyond possible to you, also you get poor judgment and poor comportment in all aspects of life, in our country INDIA. For example 1. I. I went to Police Station more than 100 times, made 5times entries (complaints) into G.D. but Not even a microscopic actions took place against the alleged bodies. On the contrary Sandip Samanta, S/O. Shankar Kumar Samanta (S.B.I. OFFICER Ph. No. 9830366434, Branch: 24B, Nimtala Ghat Street, Jorabagan, Kolkata- 700006, West Bengal, India‎, Bank Ph. No. 033 25308337) he has much more and enough money so they purchase all police personnel's and some political leaders, some Dada. Etc. Only I used to get many letters and many phone calls which all seem to me needs to be thrown in the trash, as it all are valueless, toothless and only simply a solace to the poor. What an undone boy I am! Woe is to me! My wife and her family, Sandip Samanta and his family harassed me and my family, they are torcher me physically and mentally.

We got married 05/03/2002, and have a daughter who took birth on 09/07/2005. My wife and her family lodged a case 498A/34 IPC, FIR NO.276, date 31/08/2009, P.S.: BAGUIATI, against me and some of my family members it’s a fabricated, baseless, legless, toothless and doesn’t have any commensurate to the fact. My wife is engaged and having an illicit affair with a boy (Sandip Samanta, S/O. Shankar Kumar Samanta S.B.I. Officer Ph. No. 9830366434, Branch: 24B, Nimtala Ghat Street, Jorabagan, Kolkata- 700006, West Bengal, India‎, Bank Ph. No. 033 25308337) just opposite to my house, all the matters are known to every person in my village, and also they have certified me written about my fresh character and nature. When my wife left form my house with Sandip Samanta taking many vory gold and cash 1.20 lack Indian rupees. What a demon she is! She didn’t take our only daughter (only four years old) who is now in my house having severe asthma supported by inhaler. My wife filed the 498A case dated 31/08/2009 and I was arrested on 06/09/2009,The Learn" ed court granted me on bail on 19/09/2009. Barasat court. I have lots of irrefutable evidences, (20 pcs. Adult S.M.S., Adult picture with the boy and a c.d.) with me where it is cleanly reveals which translates my wife and the boy that they are in illicit relations. Believe me I and my family would love very much (which is very rare seen in our society) to my wife and never any kind of love lost didn’t happen. They (My wife family) are very very poor and live in a bosti Address: 70/H/8 Manicktolla Main Road, Kolkata – 700054, Beside 5 Star Club, my mother saw 1st time and she arranged my marriage. Before marriage my family did not see the pedigree of my wife’s family, now we understood also realized that they hailed from a worst status. My wife, her family and (Sandip Samanta, S/O. Shankar Kumar Samanta) all they are misusing this law. Now my wife’s family knows all the affair-related matter. My wife left our only solitary daughter to me who is 4 years old having severe "Asthma Disease, depends on INHALER, here political Hide and seek, ducks and drakes and lots of unfair means are going on and the father of the parents (THE FATHER OF THE BOY WHO HAS ILLICIT RELATIONS WITH MY WIFE) are rich, so they are spending money to everywhere with a view to be escaped. Now I decided that in no way I can’t accept that demon wife. I hired a lawyer his name Mr. Kamelash Nandi. I don’t know what will be happened next? It’s an utterly a huge and a palpable offence subsequent to which the boy deserves severe and examplanary punishment so that no one can dare to abuse this law. My mother is a sugar present shies sugar is now 400. If possible please help me. Please investigate the matter thread barely and save me and my family. I leave here one question to every one that in this die-straits situation whom do I take care to myself (TRAGEDY), my daughter, or my mother (severe Diabetic)?. My wife filed another case me U/s. 125 Cr. P. C. Case NO.167/2009, (Smt. Nita Sarkar Judicial Magistrate. 1st Court Sealdah South 24 Parganas. Date 16/12/2009.) I am millions miles away from the genuine and authentic investigation and inquiry. No inquiry, investigation were executed against the F.I.R lodged by my wife. It is very painful, lamentable as well as heart rendering, breath taking affair to me and my family. My heart bursts into guffaw when I see the nature of the inquiry and investigation. One thing is as clear as crystal to me that the law and the task of the law enforcing agencies vary from man to man. A new proverb is going to take birth very soon that "Justice for the rich and Injustice is for the poor" A rich reserves the right to indulge in any kind of heinous business but the poor is restricted to involve in any type of excellent deeds" To see all these my heart is about to come in the mouth and the ground under my feet gets shook. In a word all types of Law are for the poorest and the richest will enjoy the richest judgments from all quarters.

After coming form the DumDum Central Jail, I mat with the BAGUIATI POLICE O.C. Mr. Goutam Mitra, and asked him politely: “ SIR I FAILED TO UNDERSTAND THAT I MADE SO MANY ENTIRIES INTO YOUR G.D.E. BUT YET NO ACTION SO FAR HAS NOT BEEN TAKEN FORM YOURSELF” then BAGUIATI POLICE O.C. Mr. Goutam Mitra, went through all my papers (20 pcs. Adult S.M.S., Adult picture with the boy, G.D.E, MANY MANY OTHER PAPERS RELATED TO MY CASE and TWO c.d.). After seeing all my papers he told me that I cannot take any action until and unless you lodge a case against all of them.

Then I Prayed to the Ld. C.J.M at Barasat court to lodge the case, against the alleged person. (the payer to the Ld. C.J.M. is enclosed which is self-explanatory) after filing the case the BAGUIATI POLICE O.C. Mr. Goutam Mitra, and I.O. Mr. Prasenta Kumar Das, Mr. Ajay Kumar Ghosh, in stead of taking not any take proper investigation/ not take any action/ not take any type of query to recover my Cash and Gold form the house of Shankar Kumar Samanta, The BAGUIATI POLICE O.C. Mr. Goutam Mitra, and I.O. Mr. Prasenta Kumar Das, Mr. Ajay Kumar Ghosh, took my case as a Golden Goose, and how much money BAGUIATI POLICE O.C. Mr. Goutam Mitra, and I.O. Mr. Prasenta Kumar Das, Mr. Ajay Kumar Ghosh, has taken is well known to them. Neither he took any take proper investigation/ not take any action/not take any type of query nor he did roundup them against my case.

When I saw that already near by 70-80 days went by “ I went to the BAGUIATI P.S. to know the status of the case then BAGUIATI POLICE I.O. Mr. Prasenta Kumar Das, Mr. Ajay Kumar Ghosh, became outraged me and my mother that if you ask about Shankar Kumar Samanta and his family I will sentence you and your family in the Jail, all their languages is so much filthy dirty which I cannot express front of you.
As I’m 100 percent innocent so I screw up my courage to place my grievances to every body in order to get redress. So I want to let my matter informed all the Indian and others. I wrote my matter to our local P.S., Local Councilor, all M.P., M.L.A., Minister in W.B. and Other States, C.M. in W.B., CBI Department, CID Department, S.P. and Dy.S.P.(N.) 24 Parganas, DGP Bhupindar Singh, All the I.P.S. AND I.A.S. OFFICERS. Governor in W.B, and President in India. P.M. in India, National/International Human rights department, AAP KI KACHEHRI – KIRAN KE SAATH, Kolkata Police, and all police officers in W.B. informed Kolkata Commissioner of Police, Manager S.B.I.-Branch: 24B, Nimtala Ghat Street, Jorabagan, Kolkata- 700006, West Bengal, India‎, Bank Ph. No. 033 25308337. My nation, all of the news channels, and all press, Talking with some NGO’s: 1. Universal Right and Duty for Human to Abide URDHA, 2. Human Right Commission’s Mr. Ujjal Paul and Mr. Shibaji Dasgupta. 3. Bhatat Bachao Sangathan BBS. 4. Forum for Social Justice and Development FSJD. 5. Ajjtak News Channel’s Miss Menogya. and many more, (anybody can’t help me/ fight for truth /don’t take proper investigation/do not take any action/don’t take any type of query/ Still Now, many department told does not comes under the purview of our department. Then my question is where I go now? I see they all are in sound asleep. The reason is best known to them.
I hope you would care to me, your prompt action shall be highly appreciated and deserves to be lauded.

With kindest regards,
Dipak Kumar Adhikari
Tegharia(Dhali Para),NandanKanan. P.S.: Baguiati.
P.O.: Hatiara. Dist.: North24Parganas.
Kolkata-700059 Email: [email protected]
W.B. India. PH. 9836149983


KRISHAN KUMAR SHARMA

7 years ago

I have that the bsituation is improving but very very slowly. After an anxious and tortorous wait for last 1.5 yrs., finally Ireceived my Defence Pension correctly fixed by CPPP, SBI Chandni Chowk, Delhi ( Ofcourse, after a lot of chasing ). Still, the detailed working sheet,justifying the payment has not been received to enable me check up the correctness of the Pension Arrears received by me. In this context, RBI's directions to SBI and other PSU Banks is highly commendable and implemented by the Banks will go a lng way towards ensuring the much needed transparecy in Bank's operations as far as general customers like Pensioners are concerned. I only hope that SBI Top Management pays due attention to this advice of RBI and places on its Website the detaled working of Pensions of various category of Pensioners and gives a widest publicicity as well. Well, there is no denying of the fact that all PSU Banks ( SBI included ) are far behind the Privat Sector Banks and , therefore, they need to put up their act together in Customer Management and transparecy. If they do not act fast and NOW, they will end up in losing business to Private Sectoe Banks at a much faster rate than at present.

B C Sanyal

7 years ago

send email to wire the grivance of an old age 85yrs pention , extra benifit

B C Sanyal

7 years ago

send email to wire the grivance of an old age 85yrs pention , extra benifit

krishan kumar sharma

7 years ago

RBI's directions are well-meaning and commendable. But the Central Pension Processing Cell at SBI, Chandni Chowk, Delullyhi seems to be above all. Nothing seems to be happening to resolve long pending cases of revising pension of a large number of defence pensioners. All these is a result of centralisation of process. Hopefully, good sense will prevail up on SBI top brass.

KULDIP SINGH

7 years ago

YEARWISE PENSION PAYMENT CERTIFICATE NOT ISSUED BY SBI , JALANDHAR.PENDING CASES FROM YEAR 2006 TILL DATE

Shibaji Dash

7 years ago

I have my pension A/c with SBI Central Secretariat Branch, North Blosk, New Delhi. Till date I have'nt received from the bank the statement of calculation of my revised pension post-6th Pay Commission ( per Govt. order a copy of which was sent to them) in spite of several reminders. In the pension Pass book each credit entry is given the narration of ' pension' thereby making it impossible for the pensioner to link the credit to its origin. Now after this alert by Moneylife I would write to RBI where I can perhaps get attention due to my pre-retirement position in the Govt.

K.N.Ramakrishnan

7 years ago

Receiving pension through SBI had become a nightmare for pensioners.
One MR.S.R.Palaniswamy is receiving BSNL IDA pension through SBI Coimbatore Main branch. He had not received IDA sanctioned from 1.10.2009 till date for the past 7 mnths.If we ask the officer at CBE he says he does not know anything about it and only Central Pension Processing Centre,Chennai had to be
contacted. If we contact them they say the branch manager should contact him. In spite of repeated letters, emails to Chairman,SBI the problem had not been solved so far. This is one case,so many other cases are pending. When I contacted one customer care DGM or so by name Mr.Seetaraman in phone 044 28235848 he wants the name of the officer who is dealing pension at CBE Main SBI Branch. WHen I enquired and informed him he wanted entire particulars to be faxed to him. I faxed full details in February itself, but so far the problem had not been set right. Further many of the branch officers does not know that Pensioners copy of the PPO had to be handed over to the pensioner under acquittance. They refuse to give the pensioners copy and inform it is their copy whereas it is clearly mentioned in the PPO as Pensioners copy.This problem at SB Colony Branch, Kurichi Branch and Commercial Tax Office Branch was settled after meeting the Regl. Manager. Further they does not understand how to calculate pension, DA on IDA pattern. For instance for one Mr.Jayarajan, in the PPO itself thecommutation amount had been deducted and full details of amount to be paid is given. But for him they had deducted the commuted amount from the residuary pension shown in the PPO. That is twice the amount had been deducted. In spite of repeated complaints Kurichi Branch did not care to settle the issue. Then when we gave a regd. letter giving full calculation for the past 4 years and informed if the arrears amounting to Rs.1.25 lakhs is not paid within 15days complaint will be lodged with Banking ombudsman the Kurichi Branch wake up and paid the full arears. Please bring the problems like this faced by pensioners to the notice of RBI for which senior citizens will be very tahkful to you.

Country to get normal rains this season: IMD

The forecast for better rains this season comes after India witnessed one of the worst droughts in recent times when the monsoon had failed last year

The country will receive normal rainfall this season, the weather office announced today, much to the relief of millions of farmers who had to face the brunt of a drought last year, reports PTI.

Rainfall during the June-September southwest monsoon season is expected to be 98% of the Long Period Average (LPA), the India Meteorological Department (IMD) said.

The LPA of the southwest monsoon rainfall averaged over the country as a whole is 89cm. It is the mean of rainfall between 1941 and 1990. The forecast has a model error of 5%.

The forecast for better rains this season comes after India witnessed one of the worst droughts in recent times when the monsoon had failed last year.

A normal monsoon is necessary to power the Indian economy as over 235 million people depend on agriculture for livelihood.

Last month, the Geneva-based World Meteorological Organisation (WMO) said El Nino had peaked, but was expected to influence climate patterns up to mid-year before dying out.

El Nino, a key parameter in monsoon prediction, is an occasional seasonal warming of the central and eastern Pacific Ocean that upsets normal weather patterns from the western seaboard of Latin America to east Africa.
 

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COMMENTS

Mahar

7 years ago

This is an annual joke. They said it last time too. We all know what happened. For newborns, it has to be either male or female and therefore there is always a 50: 50 chance. For our meterological experts too it is always a 50:50 , either normal or delayed! Either way, good luck to them as the stock market receives such news with enthusiasm .

Dubai exposure of Indian banks at $537 million as on November 2009

The country’s largest lender State Bank of India had exposure to the tune of $50 million, while Bank of Baroda had an exposure of $200 million at the time of the emirate’s debt crisis

The government today said that as many as seven banks in India, including SBI and ICICI Bank, had exposure worth $537 million in Dubai World and other group companies at the time of the emirate’s debt crisis in November 2009.

The exposure of the Indian scheduled commercial banks in India to Dubai World, Nakheel Reality and its group companies as on 30 November 2009, was $454.03 million for fund-based facilities and $82.94 million for non-fund based facilities, minister of state for finance Namo Narain Meena informed the Lok Sabha.

The country’s largest lender State Bank of India had exposure to the tune of $50 million, while Bank of Baroda had an exposure of $200 million.

Besides, private sector lender ICICI Bank had an exposure of over $28 million and HDFC Bank of $4.23 million.

Other foreign banks present in India with an exposure in Dubai are HSBC (about $44 million), Standard Chartered Bank (over $120 million) and Citibank ($86 million), Mr Meena said.

In November last year, the Dubai government-owned Dubai World had asked its creditors for six more months to repay its debts as asset prices were coming down.

Dubai World has total debts of $59 billion. This raised concerns over the financial health of the once financially strong emirate.

“The government is of the view that the recent global financial crisis has proved the soundness and resilience of our banking system, which has regained and sustained economic growth momentum in the country,” the minister added.

He added that Indian public sector banks are adequately capitalised and that they are maintaining higher Capital-to-Risk Weighted Assets Ratio (CRAR) to meet any additional provisioning requirement arising out of any unforeseen higher NPA slippages.

 
 

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COMMENTS

Tanmoy Sarkar

4 months ago

5000

Tanmoy Sarkar

4 months ago

5000

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