Basic Pension of Pensioners in RBI has been updated by bank in March 19, by applying relative multiplying factors. However, the bank has so far not revised the Family Pension, which as a consequence, should have been derived on the basis of deceased pensioners’ revised basic pension( in terms of central office circular dated 7th march, 2019 ).
The Bank as on date is, however, following the old different formulae for fixation of family pension as per procedures outlined in master circular read with subsequent circulars/letters. In this connection, many representations, from retirees and the various associations, are lying pending with central office. Bank, as usual, awaits for governments directions in the matter.
Recently the Bank in its News letter for April 15,2020 has published a suggestion from V.K.Manchanda, Ex-Manager, New Delhi office under ” Letter to the Editor”. As per the suggestion, bank may calculate the Basic Family Pension of all such Family Pensioners by a uniform formula as below.

As this practice is stated to be already in vogue for Central Government employees, we urge upon the bank to adopt the suggested methodology in the matter of calculation of basic pension of all such Family Pensioners till the existing limits of Family Pension are revised.

Anticipating a positive response from the bank as this practice will remove the grievance of Family Pensioners of all such deceased Pensioners whose Basic Pension already stands updated.