Delhi, News Agency: If the retired government employees do not get timely pension or arrears, then the concerned bank will have to bear the brunt of it. The Reserve Bank said in a circular that on delay in getting pension, the bank giving pension will have to pay interest on the amount payable to the government pensioners at the rate of 8 percent per annum from the due date. The central bank directed banks not to transfer pension and dues automatically and do not ask pensioners to ask for compensation. The RBI was constantly receiving complaints from pensioners that they are not receiving the revised pension and dues on time. Keeping this in mind, this new rule has been implemented.
Pension and interest money will be deposited in the account one day:
Pensioners do not need to make any claim for this compensation. The day the bank will deposit pension or pension dues in the bank account, he will have to deposit the interest amount on the same day. This new RBI rule will be applicable to all delayed pension payments from 1 October 2008.
The good thing is that pensioners do not need to claim separately for interest amount. To ensure that pensioners can take advantage of this rule only in next month’s pension payment, RBI has advised banks paying pension to install a mechanism from authorities to get a copy of the pension order immediately.
Pay attention to providing good customer service, RBI has asked banks to provide good customer service. Banks have been advised to sympathetically treat pensioners, especially the elderly pensioners and provide them good customer service. If a pensioner is unable to come or sign a bank, its thumb or foot mark can be taken in the presence of two witnesses, one of which should be a bank officer.
Banks will have to provide the facility to submit a life certificate sitting at home so that pensioners above 70 years of age with digital life certificate do not need to come to the bank. Digital life certificate will also be considered valid, so there will be no need to stand in the bank and stand in queue. Also, banks have been asked to showcase all these guidelines on the notice board so that needy pensioners can take advantage of it. Actually, many pensioners were complaining about not getting money on time, so RBI has taken this decision.
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