RBI/2015-16/294 DGBA.GAD.No.2278/31.12.2010/2015-16 January 21,2016 The Chairman & Managing Director/ The Chief Executive Officer All Agency Banks Dear Sir/Madam Payment of Agency Commission on pension accounts As you may be aware, agency banks are being compensated at Rs.65 per transaction for handling pension computation, payment and related services on behalf of Central and State Governments. As per the norms followed by the Government, a pensioner’s account should not have more than 14 credit transactions in a calendar year attributable to pension and related arrear payments, if any. 2. It has however come to our notice that certain banks are apportioning payment of arrears on account of Dearness Relief (DR) and/or delay in start of pension monthwise, thus, resulting in inflated agency commission claims. It is reiterated that number of commisionable transactions for payment of agency commission on account of pension in a year should not exceed 14. This includes one monthly credit for payment of net pension and a maximum of two per year for payment of arrears on account of increase in DR, if applicable. 3. It is also reiterated that cases involving payment of arrears on account of late start/restart of pension qualifies as a single transaction for claiming of agency commission. In other words, any payment of arrears on account of late start/restart of pension should be effected in a single credit transaction instead of separate monthly credits. 4. Some of the Central Government Departments and State Governments prefer to compute the pension figures on their own and pass them on to banks for payment. Such transactions may be included under non-pension payments, on which agency commission is payable on a turnover basis as per the existing norms (currently at 5.5 paise per Rs. 100/-). Yours faithfully (Manish Parashar) Deputy General Manager Authority: https://rbidocs.rbi.org.in/
Important Links to read the information published by Govt of India, MoD –
- Ministry Of Defence
- Department of Ex-Servicemen Welfare
- Directorate General Resettlement
- Central Organization ECHS
- National Portal of India
- Directorate of Indian Army Veterans
- Directorate of Air Veterans
- Uttar Pradesh Punarvas Nidhi
- Directorate of Sainik Welfare & Rehabilitation, Uttarakhand
- Sainik Kalyan Nideshalaya, Bihar
- Directorate of Sainik Welfare, Chattisgarh
- Nideshalaya, Sainik Kalyan evam Punarwas, Uttar Pradesh
- Department of Sainik Welfare, Rajasthan
- Sainik Welfare Department, J&K
- Directorate of Sainik Welfare, Assam
- Department of Sainik Welfare, Sikkim
- Ministry of Child & Women Development
Veterans Welfare Latest News &
Updates on various issues
related to
Tri Services Pension – SPARSH -OROP
ECHS - CSD
Pay Fixation and Service/Pension Rules
as per orders & Instructions of Govt of India.
Purpose of this website
Pensioners of the Armed Forces are different from pensioners of other departments of the Government of India. Some rules and regulations apply to public services. In order to sensitize them about the various rules, regulations, government programs related to ex-servicemen and the various social assistance programs for families of ex-servicemen, we refer to the government instructions on this subject. , published information on related topics. Here, we will discuss SPARSH, CSD, ECHS, OROP, family pension, disability pension, Service pension, re-employment with life certificate and other welfare activities to increase the awareness of beneficiaries.
Regards,
KS RAMASWAMY
Editor
Jan 22, 2016
Home
Unlabelled
Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016 Reserve Bank Of India
Payment of Agency Commission on pension accounts – RBI Circular on 21.1.2016 Reserve Bank Of India
1 comment:
Indian Military Veterans Viewers, ..
Each of you is part of the Indian Military Veterans message.
We kindly request you to make healthy use of this section which welcomes the freedom of expression of the readers.
Note:
1. The comments posted here are the readers' own comments. Veterans news is not responsible for this in any way.
2. The Academic Committee has the full right to reject, reduce or censor opinion.
3. Personal attacks, rude words, comments that are not relevant to the work will be removed
4. We kindly ask you to post a comment using their name and the correct email address.
- INDIAN MILITARY VETERANS- ADMIN
Subscribe to:
Post Comments (Atom)
They can log in to the sparsh portal login and download their Sparsh Pension slip download. We will discuss Sparsh defense pension gov in login, Sparsh defense pension gov in login app, and other related details.
ReplyDelete