Bank by letter dated 13th July 23 has decided, with the approval of the Government of India, to revise the basic pension of pre- November 01, 2017, retirees with effect from the month of June 2023, without payment of any arrears for the prior period. 

Revision of Pension

The basic pension amount has been increased from Rs. 100 to Rs. 163. This applies to those who retired before November 1, 2017.

The basic pension of such pensioners shall be revised by a factor of 1.63 from the month of June 2023 onwards. Dearness relief will be paid based on CPI-6352 i.e., 41.16% of the revised basic pension calculated on the factor of 1.63.