Master Circular: Disbursement of Pension by Agency Banks
The Reserve Bank of India (RBI) has issued a master circular regarding the disbursement of pension to government pensioners through agency banks.
The circular consolidates various instructions and guidelines issued by the RBI on the payment of pension to central and state government pensioners.
Key Points:
1. State governments are required to host government orders on dearness relief (DR) and other pension-related matters on their websites.
2. The government has taken steps to minimize delays in the payment of DR to pensioners, including the discontinuation of forwarding government orders through the RBI.
3. Agency banks are required to accept nominations in forms ‘A’ and ‘B’ for central civil and railway pensions.
The circular aims to ensure timely and efficient payment of pension to government pensioners through agency banks.
Chat with the Master Circular:
Download: Master Circular- Disbursement of Pension by Agency Banks