WHY THERE IS DELAY IN PAYMENT OF ARREARS.

WHY  THERE  IS DELAY IN THE PAYMENT OF IMPROVED PENSION AND ARREARS TO THE DEFENCE PENSIONERS ?

Government issued orders on 17.01.2013 to revise the pensions of Defence pensioners and Family pensioners w.e.f. 24.09.2012 with instructions to pay immediately.

Now it is more than 3 months passed, most of the Banks have not revised the pension and paid any arrears.  The poor defence pensioners are very eagerly waiting.  But the banks are silent on the issue. This attitude of the Banks is totally unacceptable.  A delay of one month or two months can be accepted, but not more than three months.  Whatever may be the reason, the Banks cannot justify the delay without paying legitimate compensation to the pensioners as per RBI guidelines on the subject.

In the circumstances, it will be proper for the Banks to pay delayed interest/Compensation as per RBI and CDA (P) Allahabad instructions.  As a matter of fact, the delayed interest is to be paid by the Banks without any request or claim from the pensioners.  Will the Banks pay ?  If not, the RBI (Banking Ombudsman ) should take up the matter for payment of compensation.

For the information of the pensioners, we have calculated the minimum amount of Interest payable by the Banks for various ranks from Oct 2012 to Mar 2013 for 6 months at Recurring Deposit rate of interest @ 8% p.m.

A Sepoy of Y Group with 15 years service will have to be paid Rs.121 interest.

A Naik of Y Group with 17 years service will have to be paid Rs.128 interest.

A Havildar of Y Group with 20 years service will have to be paid Rs.186 interest.

A Hon. Lt. with 28 years of service will have to be paid Rs.476 interest.

A Hon. Capt. With 28 years of service will have to be paid Rs.556 interest.

The Defence Family Pensioners should be paid the following rates of interest.

A widow of Hav. 20 yrs. Y Group will have to be paid Rs.90 interest.

A widow of Nb.Sub 20 yrs. Y Group will have to be paid Rs.84 interest.

A widow of Subedar 24 Yrs. Y Group. Will have to be paid Rs.426 interest.

A widow of Sub. Maj. 28 yrs. Y Group will have to be paid Rs.615 interest.

A widow of Hon.Lt. 28 yrs. Will have to be paid Rs.286 interest.

A widow of Hon. Capt. 28 yrs. Will have to be paid Rs.334 interest.

Suppose if the Bank is not paying, every pensioner should submit an application to the Pension Paying Branch to pay Interest.  A SPECIMEN OFTHE APPLICATION IS GIVEN.  PLEASE CLICKHERE.

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