It is very heartening to note that RBI has taken some steps and some special schemes for the benefit of the senior citizens. Issue of digital life certificates for the aged people and easy methods of transactions will benefit them a lot. RBI has made a special appeal to banks to make their services available to challenged and senior citizens at their door steps. I hope banking people would heed RBI’s suggestion as soon as possible.
The whole exercise of going to bank each time is not only cumbersome but also very risky now a days, if they carry cash. Even ATMs are not safe as many attacks on women and senior citizens are reported from time to time. Even submission of Life certificate every November is made easy by thumb impression through biometric machine. In this connection I would like pour out the woes of public sector retired employees. As is well known PSU retiree’s staff won’t have pension facilities.The pension on EPF is very meagre, that is to say, an employee retired in the position of a senior manager, is getting Rs 10806/. The lump sum amount on retirement after meeting of expenditure for children’s marriage, education, and clearing old debts, is deposited in TDRs and the interest thereon is only the source of livelihood. However to our misfortune every year the interest rates are dwindling and retired PSU employees, are unable to make both ends meet. It is a very serious matter . The RBI should look into this suo-motto, and enhance the interest rates for senior citizens of PSUs employees.
The whole exercise of going to bank each time is not only cumbersome but also very risky now a days, if they carry cash. Even ATMs are not safe as many attacks on women and senior citizens are reported from time to time. Even submission of Life certificate every November is made easy by thumb impression through biometric machine. In this connection I would like pour out the woes of public sector retired employees. As is well known PSU retiree’s staff won’t have pension facilities.The pension on EPF is very meagre, that is to say, an employee retired in the position of a senior manager, is getting Rs 10806/. The lump sum amount on retirement after meeting of expenditure for children’s marriage, education, and clearing old debts, is deposited in TDRs and the interest thereon is only the source of livelihood. However to our misfortune every year the interest rates are dwindling and retired PSU employees, are unable to make both ends meet. It is a very serious matter . The RBI should look into this suo-motto, and enhance the interest rates for senior citizens of PSUs employees.
