PENAL INTEREST FOR DELAYED PAYMENT OF PENSION

80 Years and above veteran is being briefed about the
compensation for delayed pension/arrears payment.

COMPENSATION FOR DELAYED PAYMENT OF

PENSION AND ARREARS

Reserve Bank of India has issued a Master circular.

Ref:Do.No. CSD.CO/ 8703/13.01-001/2009-10 dated April 2010 and

RBI/ 2010-11/88 dated Jul 01, 2010.

“ Pension paying Banks should compensate the pensioners for delay if any in Crediting the pension/ arrears thereof by paying compensation at Bank rate plus 2% penal interest for the delay after the due date automatically without waiting for any claim from the pensioners. This is effective from 01-10-2008. “

Dear Veteran brothers , please do not hesitate to report / claim the interest for delayed payment of your dues.

You can approach our Trust for any guidance.