home page 



IT News

Daily Rates

Book Store





click here

    banking    overview | news | basics | lendings |advanced banking | products | IT in banking  
articles & policies | banking software| deposits| bank directory| internet banking| bank results| banking & you

Disbursement of pension through Public Sector Banks - Payment of Dearness Relief (DR)

In view of the delay in release of Dearness Relief (DR)/other allowances by Agency banks as announced by Government from time to time, Reserve Bank of India has advised in a notification to banks on 6th February 2006, to act directly on the copies of such orders which may be supplied by Government through Post/ Fax/ e-mail in this respect or by accessing the website of concerned pension paying authorities without waiting for receipt of further instructions from Reserve Bank of India.

RBI has requested the pension paying banks to put in place a mechanism to immediately obtain copies of Government Orders and release it to the pension paying branches for action at their end. The intention is that pensioners should get the benefits announced by Government in the succeeding month's pension payment itself.

The Controlling Offices/Head Offices of Agency banks are instructed to closely monitor and supervise timely and correct disbursement of government pension to eligible pensioners.

In order to create better awareness among staff about pension payment schemes/rules, banks may include this as an integral part of the training programmes conducted by their training establishments. RBI has also suggested that knowledge of pension rules may be given due weightage in the appraisals made on staff and officers.

> Read otherRBI Guidelines

click here

about us | contact us | associate | terms of use | disclaimer

ęcopyright banknetindia.com  All rights reserved worldwide.