Regulatory Alerts2026-04-30
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Reserve Bank of India [Disbursement of Government Pension by Agency Banks (ABs)] Directions, 2026
These Directions apply to Agency Banks authorized to disburse Central and State Government pensions, requiring them to implement government orders on Dearness Relief immediately without waiting for RBI instructions. The document mandates that banks credit pension amounts based on orders from Pension Sanctioning Authorities and establish procedures for recovering excess payments, distinguishing between bank-attributed and government-attributed errors. It outlines specific protocols for facilitating withdrawals by sick, disabled, or incapacitated pensioners, including the use of thumb impressions and witness identification. Additionally, the Directions require banks to issue acknowledgments for life certificates, implement the Jeevan Pramaan digital service, compensate pensioners at 8 percent per annum for delays caused by bank errors, and appoint Nodal Officers to handle grievances.
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