Master Circular: Disbursement of Pension by Agency Banks
This circular outlines the guidelines for the disbursement of pension to government pensioners through agency banks.
The Reserve Bank of India (RBI) has instructed state governments to host government orders related to dearness relief (DR) on their websites, ensuring timely access to pensioners.
For central government pensioners, the government has taken steps to minimize delays in paying DR by discontinuing the forwarding of government orders through the RBI.
Agency banks are required to accept nominations in forms ‘A’ and ‘B’ for central civil and railway pensions.
Key References:
DGBA.GAD.No.H-416/45.01.003/2002-03 dated March 21, 2003
DGBA.GAD.No.770/45.01.003/2003-04 dated February 25, 2004
DGBA.GAD.No.H-506/45.01.001/2002-03 dated April 12, 2003
Chat with the Master Circular:
Download: Master Circular- Disbursement of Pension by Agency Banks