In respect of Nationalized Banks , formula to be followed for 100% DA
neutralization for those retired prior to 01 11 2002 is available with
RBI and being implemented by it w.e. 01 11 2002.
As
regards to updation of pension, RBI had devised the Scheme and
implented it during the period 2002 to 2008 and submitted its Central
Board's resolution of October,2011 for continuation of pension updation
after 2008.
Similar resolution has got to be adopted by the Boards of Nationalized Banks in this regard.
Formula of Family Pension was duly reformed by RBI w.e.f 2013, which procedure has got to be adopted by Nationalized Banks.
Even
if a Committee has got to be appointed to look into these issues,
necessary precedent measures are in place with RBI for ready reference
of and adoption by Nationalized Banks.
VOX POPULI
Satyanarayana.
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