ACQUISITION OF OUR BANK BY STATE BANK OF INDIA

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1 Reg. No. MAG(3)/NPP/391/ JUNE ISSUE-02 ACQUISITION OF OUR BANK BY STATE BANK OF INDIA Most of employees of our Bank, State Bank of Mysore, past and present were saying 'we have heard rumours and speculations about merger of Associate Banks with State Bank of India, during last several decades. But, nothing has happened'. further. Shri Arun Jaitley, Finance Minister has also declared in an interview that this decision of State Bank of India & its Associates is in accordance with government's policy. Smt.Arundhati Bhattacharya, Chairman, State Bank of India has also stated that the entire process would be completed during this Financial Year. But, fears of these employees, past and present have come true. Merger, rather acquisition of Associate Banks, including 'My Bank', State Bank of Mysore is not very far away. Our Bank, State Bank of Mysore, would join pages of History. Sir M Vishveswaraiah founded several institutions and industries. Many of them do not exist today. It is unfortunate and painful to note that State Bank of Mysore would also be joining that list. The end of saga of Bank of Mysore Ltd., commenced on 2nd October, 1913, is staring at us. It is Bank of Mysore Limited to State Bank of Mysore to erstwhile State Bank of Mysore. It may be an end of story which is very close to our hearts. Certainly, painful. In the meantime, Central Cabinet has also approved proposal of merger of Associate Banks with State Bank of India, in principal on 15th June In this background, our Commune assures its members who are pensioners that payment of Pension to Associate Bank Retirees would be in terms of Bank Employees' Pension Regulations, 1995 and this decision followed by merger of Associate Banks, including State Bank of Mysore would not alter quantum of pension. Details of post-merger scenario are awaited. It is pre-mature to discuss benefits that may be made available to our Bank retirees post merger. But, it is certain that some benefits like distribution of Sweet Packets on Bank's Foundation Day, Payment of amount under Shradaanjali Scheme, Annual Diagnostic Charges out of Staff Welfare Fund may not be available post merger. Our Bank retirees are not naive to believe that these kinds of benefits would be made available to Associate Bank retirees, without extending these benefits to retirees of State Bank of India also. There were whispers during third week of May that Emergency Meeting of Boards of Directors of Associate Banks scheduled to be held on 17th May at Mumbai, would decide on merger of Associate Banks with State Bank of India. Information started trickling in and confirmation of news regarding decision of Boards of Associate Banks proposing acquisition of Associate Banks by State Bank of India. Boards of each Associate Banks met one after the other and decided to propose acquisition of Associate Banks. Thereafter, Board of State Bank of India also sought approval of the Central Government to proceed State Bank of Mysore Pensioners' Commune has already initiated required measures, including 1

2 uniting all retirees and their organisations in Associate Banks. In the meantime, every functionary of State Bank of Mysore Pensioners' Commune assures every possible measure for improvement. submitted memorandum to Hon'ble Prime Minister, on line. State Bank of Mysore Pensioners' Commune, thanks every one of them. Members of our Commune, lead by Secretary our of Commune Shri Dharanendra Kumar, submitted a memorandum to Hon'ble Central Minister, Smt.Maneka Gandhi at Tumkur on 16th June, 2016, as directed by AIBRF. Shri Koppal Nagaraj, former Treasurer of AIBOC facilitated submission of this memorandum. Our Commune is also making arrangements for submission of Memorandum to various Central Ministers/ Members of Parliament. Over the years, our State Bank of Mysore Pensioners' Commune would be the only place for congregation of those who are/were a part of this great Institution. Shri N Krishnamachari is our new Managing Director Shri N Krishnamachari is new Managing Director of State Bank of Mysore. He assumed charge on the 30th May, He was Deputy Managing Director and Chief Operating Officer in State Bank of India, before his appointment as Managing Director of our Bank. Functionaries of our Commune under the leadership of General Secretary, Shri C N Prasad, welcomed Shri N Krishnamachari to our Bank and conveyed best wishes on behalf of every member of our Commune. Perhaps, he would be the last Managing Director of our Bank, if our Bank is merged with State Bank of India. Previous Managing Director, Shri Sharad Sharma retired from the services on the 30th April, Medical Insurance Members of SBMPC are requested to provide details of medical Insurance claims pending with Medi Assist (TPA) for a period in excess of one month. Please provide, Medi Assist ID, Type of Claim (Reimbursement of Hospita-lisation expenses/ Day Care (for treatment such as Cataract, Dialysis, Chemo Therapy, etc.)/ Domiciliary Treatment/ Hospitalisation, etc.)), Date of submission of claim, Details of Claim Number, Response, if any, from Medi Assist, etc, Amount Claimed, Details of expenditure incurred. This helps functionaries of SBMPC to follow up such long pending claims. Members are requested to either details to sbmpensioners@gmail.com or by letters to SBMPC. Agitation by Apex Organisation, AIBRF Apex Organisation of SBM Pensioners' Commune, All India Bank Retirees' Federation is taking lead in launching various agitation programs during last five years pressing for various benefits to Bank Retirees of the Country. With a view to implement directions at Thrissur Conference, i.e 'We shall Struggle and We shall Achieve', it was decided to launch two programs during the month of May. They are online submission of memorandum to our Prime Minister by over 10,000 Bank Retirees and submission of Memorandum to Members of Parliament, requesting them to take up Bank Retirees issues with the Government. Enclosing a cancelled Cheque leaf to claim documents would help in expediting claim settlement process. It is found that many claims, though sanctioned, have not been disbursed, on account of correct and complete details of accounts to which claim amount needs to be credited. In most of the cases, details of spouse are uploaded. One can download E-cards through https//ecard.medibuddy.in. If any of the members find that details of their spouse are not available or find any error in Name/s or Date/s of Birth, they are urged to send to cmird@sbm.co.in or letter addressed to the Chief Manager, IR Department, Over 19,000 Bank Retirees including 400 members of our Commune have responded to the Call and 2

3 State Bank of Mysore, Head Office, K G Road, Bangalore acknowledgement has been obtained by our Bank Pensioners, despite clear advice to obtain acknowledgement, while submitting Life Certificates. Henceforth, every member is requested to obtain acknowle-dgement on submission of any document to the Bank, including Life Certificates. This would strengthen the hands of our Commune to take the cause of such affected members. Our members, who have not submitted Life Certificates, yet, are requested to submit immediately. Medi Assist ID/E-cards of our members have been received at our Office. Arrangements are being made to send laminated ID Cards along with a Hand Book to address of members of SBMPC, in respect of Cards not collected at our Office. ID Cards of those who are residing in Mysore and Tumkur Districts are also being disbursed at these places. It is suggested that photo copies of these cards are taken and keep them at different places in their residences, so that other members of family can lay their hands immediately in case of emergency. Please note to keep members of family informed about details of Medical Insurance and place where these ID cards are placed. Those who are using Smart Phones or Phones with Camera are urged to take photographs of these Cards and store them in their Mobile Phones. This would be sufficient to get Medical Insurance facility. Our Commune has already sent SMS informing MA-ID of Self and Spouse. Treatment at Branches Some of retirees of our Bank have reported several problems faced by them at our Bank Branches. Our Bank has extended several benefits to our Bank retirees. They are entitled to such benefits, as a right. They are also High Value Customers of our Bank. But, it is unfortunate that some Officials at Bank Branches take whimsical decisions of denying such legitimate benefits. In some cases, retirees were also abused. In case, retirees of our Bank face any such problem, they are advised to inform functionaries of our Commune, in writing. Our Commune would be in forefront to secure such legitimate benefits and does not hesitate launching of agitation in front of such Branches of our Bank, in the presence of media. Those who are claiming Medical Insurance are urged to send claims directly to the following Address of Medi Assist. VRS Years Case Medi Assist India Pvt. Ltd.,Tower D, 4th Floor, IBC Knowledge Park, 4/1 Bannerghatta Road, Bhavani Nagar, Bengaluru, Karnataka Associate Banks of State Bank of India have denied notional addition of five years of service as available under Regulation 29 of Pension Regulations to those who retired under VRS It is suggested that E mail ID is provided at the time of claim, as Medi Assist advises claimants about details of processing of claims. General Secretary of our Commune, on behalf of Coordination Committee of Retirees' Organisation in Associate Banks, as Convenor, brought this problem to the notice of the Chairman, State Bank of India and other Top Executives of State Bank of India and our Bank, in the Annual General Meeting of our Bank held on the 31st May, A memorandum was also presented to the Madam Chairman regarding this issue on that day. Now, this issue is under active consideration. Life Certificate Pension for the month of April was not credited in respect of several pensioners of our Bank on the 1st May, It is alleged that they have not submitted Life Certificate/s. But, many of them claim that they have submitted Life Certificate. But, they do not have any document to indicate submission of Life Certificates by them. It is unfortunate that no 3

4 Further, Coordination Committee of Retirees' Organisation in Associate Banks has also taken up this issue by raising following grounds a. Our Commune had requested these retirees to donate liberally. We are happy to place on record our appreciation to our members who have answered our Call and donated liberally. Pension or Pension option has been extended to those who retired under VRS 2001 after serving for more than 15 years, but less than 20 years, even though they were also informed about non-extension of Pension benefit to them, like 5 years benefit as available under Regulation 29 ; b. State Bank of Mysore has taken a stand that issues raised in Civil Appeal 5195/2010 filed by Vijaya Bank and issues raised by State Bank of Mysore in respect of this 5 years issue are identical. Hon'ble Supreme Court has ordered payment of pension under Regulation 29, along with interest to those who retired under VRS 2001 from Allahabad Bank. Civil Appeals filed by Allahabad Bank were also heard along with Civil Appeal 5195/2010. c. Hon'ble Supreme Court has also ordered payment of pension under Regulation 29 to those who retired under VRS 2001 after serving more than 19 Yrs & 6 Months, in State Bank of Patiala Vs Pritam Singh Bedi & Ors. Bank Retirees' Forum, Tumkur Bank Retirees' Forum, Tumkur was formed in the year Bank Retirees staying in Tumkur District are its members. Now, this Forum has over 200 members. Our Bank retirees took a lead role in formation of this forum. Shri Dharanendra Kumar, Secretary of our Commune is the founder President of this Forum. In its meeting held on the 23rd April, 2016, Shri Dharanendra Kumar, Smt G Sharadamma, Shri K Mahesh Chandra and Shri Somashekar are elected as President, Vice President, Secretary and Treasurer respectively. Every Office Bearer is member of our Commune and election of our members to every post demonstrates faith of Bank retirees of Tumkur District in the ability, acceptance and leadership qualities of members of State Bank of Mysore Pensioners' Commune. Dr Lakshmisha wins Aryabhata Award The award is instituted to honour those achievers in recognition of their creative and constructive work and in appreciation of their accomplishments in their respective and chosen field of service. The Aryabhata award is given to the people who have excelled in various fields like Banking, Industry, Art, Science, Music and Entertainment. Every year Aryabhata Institution identifies the achievers from all over the world. This year our member and Director of our Bank, Dr.K Lakshmisha has been awarded with Aryabhata Award for his contribution to Banking. He is the first from Mysore Bank family to receive this award. Members of State Bank of Mysore Pensioners' Commune congratulate Dr.K Lakshmisha on receipt of this Award. Dr.K Lakshmisha, you have made each one of Mysore Bank family, proud. In view of these developments, Our Commune is confident of positive outcome of these efforts. In the meantime, Special Leave Petition filed by our Bank is likely to be listed on the 8th July, 2016 before Hon'ble Supreme Court. Pension/Pension option to those who retired under SBMVRS & Exit Policy Our Bank has disbursed pension alongwith arrears to all eligible retirees, after extending to Pension option in terms of Memorandum of Settlement dated Arrears were paid from to those who were PF optees and from the date of retirement to those who were Pension optees. 4

5 Renewal of Deposits Membership of our Commune Interest Rate on Deposits in State Bank of India is lesser by 0.50%. Additional rate of interest payable to Senior Citizens in State Bank of India is lesser by 0.15%. Therefore, it is suggested that our members, whose deposits are due for renewal in near future close these deposits prematurely and renew for a longer period, before completion of merger process, to take advantage of higher rate of interest in our Bank. Members of State Bank of Mysore Pensioners' Commune are urged to participate in Mission 90 program of bringing in 90% of retirees of our Bank into our Commune's fold. Currently, we have over 80% of retirees as our members. Adding 1000 members during the year 2016 is also one of the means of succeeding in Mission 90. Further, every retiree of our Bank becoming a member of our Commune would go a long way in strengthening our Commune, especially in post merger situation. Each one Bring one makes this mission a success. Yes, it is achievable. Helpage Loan improvement Our Bank has improved Helpage Loan which is available to Pensioners, who are customers of our Bank. Our Bank has enhanced the ceiling on Limit to Rs.5.00 lakhs, number of months of Pension to fifteen and has reduced the interest rate to 13%. Our Commune has requested reduction in Interest rate, as applicable to loans under Express Credit Scheme. our commune is confident of improving this scheme for its members. Our Commune has added 56, 47, 55 and 109 members during the months of February, March, April and May 2016 respectively. Total number of members added during these four months is 267. Out of this, 127 are Retired officers (Feb 25, Mar 22, Apr 27 and May 53). We are confident of adding more than 500 members during first six months of this year, i.e during the period January - June, CONTACT DETAILS OF OUR COMMUNE ID sbmpensioners@gmail.com Website Face Book sbm.pensioners, Post Box No Group sbmpensioners@googlegroups.com Phone Nos Extension 427 President N. Jagannathan - Mob General Secretary C. N. Prasad - Mob *************************************************************************************************************************** Members of our Commune are requested to send their Employee number and name by to our Commune's ID if their ID is not yet included in Commune's google group. Please call on our Office Land Line only for any change in Contact Number and/or address as our Commune is finding difficulty in incorporating information provided to functionaries 5

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7 Pension Regulations in State Bank of India applicable to our Bank Pensioners after Merger of our Bank with State Bank of India (Extracted from State Bank of India Employees Pension Fund Regulations, 2014 notified on 18th Sep. 2014) by which they were governed and under which they were entitled for pensionary benefits prior to the date of such acquisition or amalgamation and the scheme of acquisition or amalgamation. Grant of membership to employee of Banking Institution acquired by or amalgamated with the Bank Notwithstanding anything contained in regulation 7 and regulation 8, in the event of the Bank acquiring the business of any banking institution under section 35 of the Act or in the event of amalgamation of any banking institution with the Bank under the Banking Regulation Act, 1949 or any other law for the time being in force (a) the employees of the banking institution who have, pursuant to such acquisition or amalgamation become permanent employees of the Bank, shall become members of the Fund as per these regulations, if the Central Board of the Bank decides to make them members of the Fund; of the Fund as per these (b) the employees of the banking institution who have retired prior to such acquisition or amalgamation and who are entitled to benefit of pension, including enhancements and family pension, if any, shall become members (c) the employees of the banking institution who have retired, prior to such acquisition or amalgamation, and who have become entitled to benefit of pension as a result of any settlement, industry level or otherwise, shall become members of the Fund, as per these regulations, as may be determined by the Central Board of the Bank in conformity with the settlement or the rules, regulations or the scheme of acquisition or amalgamation of such banking institution, under which they were governed and were or have become entitled for benefit of pension, prior to the date of such acquisition or amalgamation. regulations, as may be determined by the Central Board of the Bank such members shall be eligible for pension in conformity with the rules, regulations of such banking institution ******** Members of Commune Welcoming our Bank s New Managing Director Shri N Krishnamachari Members of Commune presenting memorandum to Smt. Maneka Gandhi Hon ble Central Minister 7

8 THE TARIFF IS AS UNDER Back Cover Page Rs.7,500/- (For one year 12 issues Rs.75,000/-) Full Page Rs.4,000/- (For one year 12 issues Rs.40,000/-) Half Page Rs.2,500/- (For one year 12 issues Rs.30,000/-) Quarter Page Rs.1,500/- (For one year 12 issues Rs.15,000/-) Two Line strip Rs.1,000/- (For one year 12 issues Rs.10,000/-) Members of commune are requested to make use of this opportunity by bringing more and more Advisements to strengthen our State Bank of Mysore Pensioners' Commune. Please become a member of State Bank of Mysore Pensioners' Commune if your not one One Pension, One Regulations, One designation and One Organisation. DONATION Our commune is appealing its members to donate to Commune by way of standing instructions liberally. To enable members to give standing instructions, Account Details of Commune are as under SB A/c. No with State Bank of Mysore, Bangalore Branch Reg. No. MAG(3)/NPP/391/