ALL VETERANS ARE REQUESTED TO SEE THE WEB SITE & GIVE YOUR VALUABLE COMMENTS/SUGGESTIONSGet this Widget

Monday, 2 January 2017

7th Pay Commission – SBI Releases arrears for Veterans Public sector bank State Bank of India (SBI)

7th Pay Commission – SBI Releases arrears for Veterans

Public sector bank State Bank of India (SBI) said that it has released Rs 3,323.24 crore in arrears to defence pensioners as part of the 7th Pay Commission on Friday. The bank released the amount to about 9.94 lakh pensioners, Rajnish Kumar, managing director (national banking group), said in a statement. Last month, the bank released about Rs 4,003 crore worth in arrears to 4.60 lakh retired services pensioners.

The bank serves to the largest share of central government pensioners across the country and to about 50 percent of total defence pensioners. This means that so far, roughly Rs 7,300 crore worth in arrears has been released to defence pensioners till now. In October, the defence ministry had said that it had deferred the representation of the armed forces for a percentage-based system rather than a slab-based system for determining disability pension to the Anomaly Committee of the 7th Central Pay Commission (CPC). The move followed criticism from the opposition parties and the defence forces over a letter issued on September 30, which had stated that a slab-based system will replace the percentage method of calculating the pension for the disability pension for the Army, Navy and the Air Force personnel.

“Service Headquarters have represented that the percentage based system should be continued under the 7th pay commission for calculating disability pension for Defence Services at par with their Civilian counterparts. The Ministry has referred the representation of the Service Headquarters to the Anomaly Committee of 7th pay commission for consideration,” a statement by the defence ministry stated.

Source: PTI

Blog Archive

Disclaimer

The contents posted on these Web Site are personal reflections of the Viewers and do not reflect the views of the "Indian Military Veterans- Web" Team. Neither the "Indian Military Veterans -Web" nor the individual authors of any material on these Web accept responsibility for any loss or damage caused (including through negligence), which anyone may directly or indirectly suffer arising out of use of or reliance on information contained in or accessed through these Web.
This is not an official Web site. This forum is run by team of ex- Indian Army, Veterans for social networking of Indian Defence Veterans. It is not affiliated to or officially recognized by the MoD or the AHQ, or Government/ State.
The Indian Military Veterans Forum will endeavor to edit/ delete any material which is considered offensive, undesirable and or impinging on national security. The WebTeam is very conscious of potentially questionable content. However, where a content is posted and between posting and removal from the Web in such cases, the act does not reflect either the condoning or endorsing of said material by the Team.
Web Moderator: Capt KS Ramaswamy (Retd)

Resources


JOIN SITE AS MEMBER AS ABOVE & TYPE YOUR E-MAIL ADDRESS HERE FOR AUTO E-MAIL UPDATES