RBI DIRECTIVE ON PENSION PAYMENT
Are you a government pensioner wondering if you can receive your pension in a joint account or do you have to open a separate account to receive family pension? Did you know that banks have been asked to record the Pension Payment Order (PPO) number on the bank account passbook and that you can ask them to issue pension slips?To ensure that senior citizen pensioners of the government do not have to run from pillar to post to get their pension-related issues sorted, the Reserve Bank of India (RBI) has issued various directives to pension disbursing banks vide the master circular on this subject. The master circular was released on July 2, 2018.
Knowledge of these instructions may help in getting your pension related problems resolved faster. Let us look at five issues commonly faced by pensioners