
Pensioners accounts not to have more than 14 transactions in a Year
Reserve Bank Of India
RBI/2015-16/294
DGBA.GAD.No.2278/31.12.010/2015-16
January 21,2016
The Chairman & Managing Director/The Chief Executive OfficerAll Agency Banks
Dear Sir/Madam
Payment of Agency Commission on pension accounts
As
you may be aware, agency banks are being compensated at Rs.65 per
transaction for handling pension computation, payment and related
services on behalf of Central and State Governments. As per the norms
followed by the Government, a pensioner’s account should not have more than 14 credit transactions in a calendar year attributable to pension and related arrear payments, if any.
2.
It has...