M.V.Ruparelia, Chief Patron, All India Senior Citizens
Confederation (AISCCON),A503 Rashmi Utsav,
Near Jangid Estate & Vijay Park, Mira Road (East), Dist. Thane.401 107. M. 09821732855. E/Mail: mvrup@yahoo.co.in
To
Date: 14-4-15.
Shri Narendra Modiji,
Prime Minister of India.
1.
We are thankful to you for
your personal concern for Elders of the Country in your communication dt 31-3-15.
We would like to bring out one of our grievances for very early action.
2.
Government
of India with approval of Cabinet issued National Policy, 99 for welfare of
Senior Citizens giving Mandate & Policy Statement to all Public &
Private Stake Holders to take
effective steps to improve the quality of life of all Elders, strengthen their
legitimate place in society and help them to live their last spell of life with
purpose, dignity and peace (Paras 12 to 29). Many of the provisions of this Policy are not yet implemented
even after 17 years and revised Policy is not finalized even after years
together. Para 29 of Policy, 99 lays down that these Elder contributors
should feel assured that the payments at the end of stipulated period are
attractive enough to take care of the likely erosion in purchasing power due to
erosion.
3.
Many Elders depend for livelihood
on interest on their meager savings due to economic position at the time of
their retirement. In February 2013, State Bank of India has reduced 0.25 points
from additional interest of 0.50 per cent paid to senior citizens on fixed
deposits to reduce the cost of funds of banks, though Reserve Bank and Finance Ministry have given in
writing that they have not issued any orders to reduce rates for Senior Citizens. Reserve Bank of India vide their Master
circular DBOD no. Dir.BC.1/13-03.00/2012-13 dt 2-7-12 had authorized all Banks
to formulate with approval of their Board of Directors fixed Deposit Schemes
for senior Citizens, offering higher and fixed rates of
interest as compared to
normal deposits of other citizens. Reserve Bank and all Public Sector
Undertakings including Banks are the stake holders of this Policy and apex
authority of Government to sponsor and support programmes of the Government.
State Bank of India is the biggest and most Profit Earning Bank and has a moral
& Corporate Social Responsibility, having laid down obligation towards
senior citizens of the Country. Looking to their profits, they should give very
higher and fixed rate of interest to Senior Citizens to take care of the likely erosion in purchasing
power due to ever increasing inflation.
4.
According to
directives in National Policy, 99, each Ministry was required to bring various
provisions of National Policy, 99 to the notice of all Officers and Staff of their
Ministry. Finance Ministry has not brought out Mandate & Policy Statement
(Para Paras 12 to 29) to the notice of Reserve Bank and all other
Government & Non-government Banks and Departments under Ministry of
Finance, so that all departments of Finance Ministry act on these provisions.
On reference to Reserve Bank on this aspect, Reserve Bank has stated in para 3 of their letter no. DBOD
no.DIR.5721/13.01.01/2013-14 dt 26-9-13 that they have not received the
Government Notification for these provisions. In absence of proper directives
from Finance Ministry, other Banks also give only ½ % extra instead of higher and fixed rates of interest directed by Reserve Bank. Such extra ½ %
is a mockery of your Elders. We shall be obliged, if you get proper directives issued
by Finance Ministry on priority basis to all Banks, including State Bank to
give higher and fixed rates of interest as directed by Reserve Bank. All Ministries
may also be advised to take effective steps to
improve the quality of life of all Elders, strengthen their legitimate place in
society and help them to live their last spell of life with purpose, dignity
and peace.
Thanking
You,
Yours Sincerely,
(M.V.Ruparelia)
No comments:
Post a Comment