Page 7 of 12
Overall, the recent improvements in updating retirees’ Pension and Family Pension, and the changes in GMP reflect RBI’s commitment to enhancing the well-being of its retired employees.
This rise in DR is primarily due to food inflation, which has been affecting everyone in recent months. The cost of essential food items like vegetables, dals, and cooking oil has gone up considerably, impacting household budgets.
As we enter 2024, let us carry the spirit of resilience and unwavering determination.
Here’s to a brighter future, filled with hope, prosperity, and a well-deserved recognition of the valuable contributions retirees have made to the banking sector.
There is an increase in bed charges and ICU charges
As expected, bank has now given instructions to revise/recalculate family pension in terms of GOI approval. The required details are here.
It is the first MOU that has been signed within 14 months of the expiry of the previous settlement. There is a positive development for pensioners, as all pensioners as on 31st October 22 will now receive a long-awaited “ex gratia” amount.
With effect from 1st March 2019, the family pension payable to the spouse of a deceased employee of RBI shall be at the rate of 30% of pay uniformly subject to minimum of ₹9,000 per month, and a maximum of 30% of the highest pay per month in the Bank.
After the expiry of the earlier cashless GMP policy under(MAFS) on August 14, 2023, RBI has extended the policy with the New India Assurance Co. Ltd. for the period up to 31.12.23 on the same terms and conditions.The new policy… Continue Reading →
DR increase Calculator Aug23 to Jan 24
Data for the half year ending June 23 Labour Bureau, M/o Labour and Employment have released the All-India Consumer Price Index numbers -AICPIN for the half year ending June 23 and the data is shown in chart above: 44 slabs… Continue Reading →