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ABHAY S. OKA, AUGUSTINE GEORGE MASIH
Reserve Bank of India – Appellant
Versus
M. T. Mani – Respondent
JUDGMENT :
AUGUSTINE GEORGE MASIH, J.
1. In this Appeal, challenge has been raised by the Reserve Bank of India (“RBI”) to the Division Bench Judgment of the Kerala High Court dated 18.12.2023 whereby the appeal preferred by Respondent No.1 against the Judgment of a Single Judge dismissing his Writ Petition for grant of pension with effect from the date of his retirement i.e. 01.12.2014, stood dismissed after he exercised his option as per the RBI Regulations/Circular dated 14.09.2020.
2. The facts are not in dispute and therefore are being referred at the very outset.
3. The employees of the RBI prior to 1990 were governed by the Contributory Provident Fund (“CPF”) and the payment of the Gratuity Act, 1972 (“Gratuity Act”). For the first time, on 29.10.1990, the RBI with approval from its Central Board of Directors introduced the RBI Pension Regulations, 1990. Employees were informed vide Administration Circular No. 6 to the effect that the said regulations would come into effect from 01.11.1990 giving an option to the existing employees to join the said Pension Scheme or to continue with the RBI’s CPF. All new employees who joined on or after 01.11.1990 were to be governed by the 199
Differentiation in pension benefits based on financial constraints is constitutionally valid, affirming the balance between fiscal policy and equality in treatment under law.
Fixing of a cut-off date for granting of benefits is well within the powers of Government as long as the reasons therefor are not arbitrary and are based on some rational consideration.
An amendment with retrospective operation that takes away a benefit already available to the employee under the existing rule violates the rights guaranteed under Articles 14 and 16 of the Constituti....
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