RBI - MASTER CIRCULAR


Master Circular - Disbursement of Government Pension by Agency Banks
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=9883&Mode=0
RBI/2015-16/63
DGBA.GAD.No.H-1/31.05.001/2015-16
July 1, 2015
(Updated as on March 17, 2016)
All Agency Banks
Dear Sir/Madam
Master Circular - Disbursement of Government Pension by Agency Banks
Please refer to our Master Circular RBI/2014-15/110 dated July 1, 2014 on the above subject. We have now revised and updated the Master Circular which consolidates important instructions on the subject issued by the Reserve Bank of India till June 30, 2015.
2. A copy of the revised Master Circular is enclosed for your information. This circular may also be downloaded from our website www.mastercirculars.rbi.org.in.
Yours faithfully
(G. Sreekumar)
Chief General Manager
Encl.: As above

Master Circular – Disbursement of Government Pension by Agency Banks
Introduction
Payment of pension to retired government employees, including payment of basic pension, increased Dearness Relief (DR), and other benefits as and when announced by the governments, is governed by the relevant schemes prepared by concerned Ministries/Departments of the Government of India and State Governments. This Master Circular consolidates important instructions on the subject issued by the Reserve Bank till June 30, 2015. It does not replace or supersede such existing government instructions. In case of any doubt or apparent contradiction, agency banks may be guided by the relevant government instructions. Various circulars issued in this connection by the Reserve Bank of India are summarised hereunder for information.

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