The Association of Former Central Committee Members of the State Bank Staff Union (AFCCoM) has urged the Union Government and the Indian Banks Association (IBA) to update the pension as per the Pension Regulation Act, 1995.
In a resolution passed at the Annual General Body meeting held at Thanjavur recently, the association pointed out that the revision of pension as per the Act and in line with RBI formula, is pending for over three decades.
Similarly, there was inordinate delay in the upward revision of ex gratia, as ingrained in the banking industry level settlement of March 3, 2024.
Upward revision of ex gratia and the updating of pension would be of immense help to over 8 lakh pensioners, the association added.
Published – July 14, 2025 05:38 pm IST