No,enough precautions are taken by LIC & RMOS SZ has instructed what date of a month AOPC or MGR OS DO shd feed Pensioners data to ensure that RBI instructions are followed in letter & spirit by all banks to help ensure all payments reach the recipients on 1st positively even
if it is a holiday or Sunday or Saturday holiday .
Otherwise RBI wld not have come into the picture at all
Requests were pouring in from
All Pensioner Fedns ,LIC saw its reality & necessity
How else u say that barring 2 DOs SZ all did a good job, good PR with LIC banks & lo New Year pension gift landed
I quoted 2 Bank examples also
SAD other Zones details of Successful pension credit on 1st is not known & I bemoaned silence to requests & emulate SZ empathetic process blessed by LIC CO
It is not payment before 1st or to coincide with date of Employee salary credit which LIC has refused thoroughly but agreed for positive 1st credit
So just 1 working day before as warranted by the list of holidays data to be fed in will be carefully done as was done by those DOs in Dec end for a 1st Jan credit
Here too some banks of LIC were reckless not to appreciate serious implications for LIC Pensioners & such Banks wld have been identified by now
I found not more than 2 such Holidays in SZ , May & August, for the 12 month Jan to Dec 2020 & earlier day in April & July are working days ,so no problem to advise Bankers & to caution them .Each RMOS & SDM / MGR OS must have standard specific proforma Caution letter to their Bankers to act without fail & to faithfully implement RBI instruction to ensure pension credit from Bank SMS to all such Pensioners
Greetings
RBKISHORE
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