The officers and employees of the Ranchi regional office of the National Bank for Agriculture and Rural Development (Nabard) struck work on Tuesday, for the first time in a decade, for pressing their pension related issues.

“This is a part of the national programme chalked out by the joint forum of our associations,” informed Prashun Chandra, the secretary of the local unit of Nabard officers’ association, adding the call was given by the united forum of officers, employees and retirees of the organisation and observed at all offices of the bank across the country.

While those serving struck work, the retirees who were present in the city came to the office gate for lending their support, he further informed.

“Though the service conditions of Nabard employees were supposed to be the same of those of Reserve Bank of India (RBI), the revisions in pension regulations of RBI employees that were made over the past eight years were not effected in case of Nabard employees and that created discrepancies,” Chandra informed about the reason behind their going on a strike.

Nabard was carved out of the RBI by an act of the Parliament in 1981 when three RBI departments — agriculture credit department, rural planning and credit department and agriculture refinance and development department — were taken out to form it so that focus could be given to agriculture and rural development.

“In 1982, RBI management appealed to its employees to join the newly formed organisation, Nabard, with the assurance that their pay, allowances and retirement benefits would be protected then and even in subsequent revisions in case of RBI employees who would stay back in the parent organisation,” Chandra informed about the background, adding it was also guaranteed in section 50 of the Nabard Act 1981.

The parity with RBI employees in all service conditions including pension was further cemented during all the seven subsequent bipartite wage settlements with the employees’ associations of Nabard, he further said, adding pension regulations of Nabard was also formed in the same line in 1993.

“But the revisions made in pension regulations of RBI and approved by department of financial services of the Union finance ministry over the past eight years created disparities among the employees of RBI and Nabard,” Chandra further said, adding that created grievances among Nabard employees who demanded parity.

They started agitating since January 29 when they wore black badges or staged demonstration and dharna in front of their office before striking work for the whole day on Tuesday, Chandra informed, adding their next course of action would be decided by their national leadership.