REGISTERED
e-mail:
chairman@sbi.co.in
No.
FORSE/Ch/SBI-Ch/0114
Oct 23,
2014
To
Ms. Arundhati Bhattacharya
Chairman, State Bank of India
Corporate Centre, State Bank
Bhawan,
Madam CamaRoad, Nariman Point,
Mumbai-400021
Sub:
Interest rates for Senior Citizens
Respected Madam,
I and
over a lakh of our members – all retired employees of Steel Authority of India
Ltd. join me in wishing you a Happy Diwali and prosperous future. Those of us
in SAIL (and other industrial PSUs) who retired before 2007 do not get any
pension like retirees of LIC, Banks Govt Insurance companies, etc.
Unfortunately this privilege is denied to retirees of industrial PSUs only.
Madam,
we note that SBI is paying only 0.25 % extra interest on deposits for senior
citizens. All most all Govt banks are paying 0.50% extra. With added medical expenditure due to old
age, the very senior citizen retirees of PSUs are required to spend out of
pocket as group medical insurance covers only part expenses. Perhaps, the difficulties which would be faced
by such very senior citizen retirees (who had retired before 2007) are well
known to you especially being from a family of past executive of SAIL. Since
SBI was bankers to SAIL from inception, our members are sentimentally attached
to SBI as they have been drawing their salaries from beginning & their
association goes even beyond 50 years for some.
We shall
be grateful if SBI can introduce a scheme which will give extra interest rates
of at least 1% to the retirees of PSUs. SBI may keep a limit of deposit of Rs
15 lacs for this extra interest rates. SBI is already giving 1.25% to its own
retirees. We are sure that SBI being a leading bank with sound margins would
help these very senior Citizen retirees of industrial PSUs who do not get any
pension and SBI would set an example to help the needier. The financial
implication for SBI on this account would be marginal compared to its turn over
& profit.
With thanks and kind regards,
Yours sincerely,
(V.N.Sharma)
Chairman
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