Mumbai:
Stating that it is receiving complaints from pensioners against the
lenders' attitude regarding collection of excess or wrong payments, RBI
on Thursday asked banks to strictly adhere to the relevant rules.
" We have been receiving complaints from pensioners stating that the
recovery of excess / wrong pension payments are being made in a manner
that is not in keeping with the extant guidelines," RBI said in a
notification.
The
regulator asked the banks to follow the relevant guidelines on this
formulated in 1991 while dealing with such excess payments.
As soon as the excess payment comes to the notice of the bank, it
should adjust the same against the amount standing to the credit of the
pensioner's account to the extent possible, including lump sum arrears
payment. Where the entire amount of over payment cannot be adjusted from
the account, the pensioner may be asked to pay forthwith the balance of
over payment. If the pensioner expresses inability to pay the amount,
the same may be adjusted from the future payments to be made to them, it
said. --------- PTI
( Madurai edition of The Hindu, Friday, March 18, 2016 )
Courtesy : MPS
