RBI Notifies Revised Master Circular Consolidating Instructions on ‘Disbursement of Govt. Pension by Agency Banks’

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Last Updated on 3 April, 2024

pension disbursement

Circular No. RBI/2024-25/06 DGBA.GBD.No.S1/31.02.007/2024-25, Dated: 01.04.2024

RBI has now revised and updated the Master Circular, consolidating important instructions on the subject of ‘Disbursement of Government Pension by Agency Banks’. The Circular highlights the prompt implementation of the Government’s instructions by agency banks, the timing of pension disbursement, and the process for refunding excess pension payments to the Government. Further, it discusses norms w.r.t the withdrawal of pension by old/sick/disabled pensioners and reimbursement of pension payments

Click Here To Read The Full Circular

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