eF. No. 4/1/1/2022-IR
Government of India
Ministry of Finance
Department of Financial Services
Jeevan Deep Building, 3rd floor
Parliament Street, New Delhi – 110 001
Dated 5th October 2023
To:
Chief Executive
Indian Banks’ Association
World Trade Centre Complex
Centre 1, 6th floor, Cuffe Parade
Mumbai — 400 005
Subject: 100% Dearness Relief (DR) Neutralization to pre-2002 bank retirees.
Sir,
Please refer to Indian Banks’ Association’s letter No. HR&IR / GOVT/BPS, dated 14.8.2023, on the above subject.
2. In this connection, the undersigned is directed to convey ‘No Objection’ of the Government to Indian Banks’ Association, for advising Public Sector Banks, pending amendments to respective Bank Employees’ Pension Regulations, to pay w.e.f. 1st October, 2023: —
(i) DR at uniform rate as applicable to the lowest slab of basic pension in the existing DR frameworks, to all pre- 1/11/2002 retirees (100% neutralization of tapered DR);
(ii) Rs. 800.00 and Rs. 450.00 per month as ex-gratia amount, as a standalone Benefit, which will not attract any DR, to pensioners/family pensioners falling under 1st slab of basic pension and drawing highest DR, and 2nd slab of basic pension attracting second highest DR in the present framework, respectively. The ex-gratia amount shall be absorbed in future changes in pension structure, if any; and
(iii) No arrears shall be payable for the periods falling prior to the effective date.
Yours faithfully,
(Vijay Sharikar Tiwari)
Under Secretary to the Government of India
🕑 29 Apr, 2024 09:55 PM
DoPT Clarification on increase in allowances by 25%
🕑 24 Apr, 2024 09:17 AM
DoPT forwards 8th Pay Commission demand by IRTSA forwarded to Fin Min
🕑 23 Apr, 2024 10:01 AM
CGDA: Revision of rates of Allowances with DA rates increased to 50%
🕑 22 Apr, 2024 12:59 PM
CBDT: on DoPT order on regularization of Casual Workers
🕑 21 Apr, 2024 09:54 PM
DoPT Consolidated Instructions on SC, ST, OBC, PwD & EWS reservation
🕑 18 Apr, 2024 11:51 AM
Timeline extended for CGHS Beneficiary ID - ABHA ID linking
🕑 18 Apr, 2024 10:22 AM
APAR timelines for Central Civil Services extended to 30th April
🕑 10 Apr, 2024 08:25 AM
DoPT Guidelines on Departmental Promotion Committees
🕑 10 Apr, 2024 08:35 AM
Kendriya Vidyalaya Sangathan Admission Guidelines 2024-2025
🕑 05 Apr, 2024 01:23 PM
Kendriya Vidyalaya Balvatika Admission Schedule - 2024-25
🕑 02 Apr, 2024 09:25 AM
Kendriya Vidyalaya Admissions Open for 2024-25: Key Dates & Appln Process
🕑 01 Apr, 2024 09:23 AM
Kendriya Vidyalaya (KV) schools where Balvatika is functioning
🕑 14 Mar, 2024 02:07 PM
Govt bans 18 vulgar 18 OTT. See the list here
🕑 08 Mar, 2024 01:49 PM
Pension Scheme Gains Traction Across States, Despite Central Hurdles
🕑 20 Feb, 2024 11:17 PM
CGHS rate for general surgery applicable from February 1, 2024
🕑 08 Feb, 2024 10:19 AM
No loan interst change as RBI maintains repo rate at 6.50% for the 6th time