Reserve Bank of India is receiving several complaints from the pensioners alleging inordinate delay in disbursing the revised pension and arrears. Position was reviewed by RBI and our Customer Service Department has issued instructions to the agency banks as under :
i) Pension paying banks should compensate the pensioner for the 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 them. This is applicable to all delayed pension payments made since October 1, 2008.
ii) System of attending to customer service including pension payments may be reviewed.
iii) The branch continues to be a point of referral for the pensioner lest he/she feel disenfranchised.
iv) all branches having pension accounts should guide and assist the pensioners in all their dealing with the bank.
v) suitable arrangements are made to place the arithmetic and otherdetails about the pension calculations on web, to be made available to the pensioners through the net or at the branches at periodic interval as may be necessary and sufficient advertisement is made about such arrangements
(Ref.Do.No.CSD.CO/ 8793/13.01.001/2009-10 dated April 09, 2010)
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