{"id":242543,"date":"2021-01-21T18:40:17","date_gmt":"2021-01-21T13:10:17","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=242543"},"modified":"2021-01-21T17:13:20","modified_gmt":"2021-01-21T11:43:20","slug":"rbi-withdrawal-of-circulars-on-recovery-of-excess-pension-made-to-pensioners","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/21\/rbi-withdrawal-of-circulars-on-recovery-of-excess-pension-made-to-pensioners\/","title":{"rendered":"RBI | Withdrawal of circulars – on Recovery of excess pension made to pensioners"},"content":{"rendered":"

It has been brought to the notice of RBI that the recovery of excess \/wrong pension payments from the pensioners are being made in a manner that is not in keeping with the extant guidelines \/ Court orders.<\/strong><\/p>\n

The said issue has been examined by RBI and it has been decided that the following circulars issued by Department of Government and Bank Accounts, Reserve Bank of India related to the recovery of excess pension paid by agency banks stands withdrawn with effect from the date of this circular –<\/p>\n

    \n
  1. Circular no DGBA.GAD.No.2960\/45.01.001\/2015-16 dated March 17, 2016<\/a><\/li>\n
  2. Circular no CO.DGBA (NBS) No.44\/GA.64 (11-CVL) 90\/91 dated April 18, 1991<\/li>\n
  3. Circular no CO DGBA (NBS) No.50\/GA.64 (11-CVL) 90\/91 dated May 6, 1991.<\/li>\n<\/ol>\n

    Further, RBI noted that though the above-mentioned circulars issued under the signature of RBI stand withdrawn, agency banks are requested to seek guidance from respective Pension Sanctioning Authorities regarding the process to be followed for recovery of excess pension paid to the pensioners, if any.<\/p>\n

    As regards the issue of refund to be made to the government of excess\/wrong pension payments, banks may be guided by the guidelines laid down in our Circulars Nos.DGBA.GAD.H10450\/45.03.001\/2008-09 dated June 1, 2009, and DGBA.GAD.H.4054\/45.03.001\/2014-15 dated March 13, 2015<\/a>. Agency banks are again advised that, where excess pension payment has arisen on account of mistakes committed by the bank, the amount paid in excess should be refunded to the Government in lump sum immediately after detection of the same and without waiting for recovery of any amount from the pensioners.<\/p>\n

    \n

    Reserve Bank of India<\/strong><\/p>\n

    Notification dt. 21-01-2021<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

    It has been brought to the notice of RBI that the recovery of excess \/wrong pension payments from the pensioners are being <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[5271,2611,44911],"class_list":["post-242543","post","type-post","status-publish","format-standard","hentry","category-business_news","category-news","tag-pension","tag-RBI","tag-withdrawal-of-pension"],"yoast_head":"\nRBI | Withdrawal of circulars - on Recovery of excess pension made to pensioners | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/01\/21\/rbi-withdrawal-of-circulars-on-recovery-of-excess-pension-made-to-pensioners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI | Withdrawal of circulars - 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Deshpande and N.B. Suryawanshi, JJ., while addressing an issue with regard to the deduction of pension by the Bank without any confirmation from the employer, observed that, \"The pension payable to the employees upon superannuation is a \u2018property\u2019 under Article 300-A of the\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":232413,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/07\/17\/bom-hc-rbi-circulars-granting-moratorium-on-loan-repayment-does-not-apply-to-mutual-funds-and-debentures\/","url_meta":{"origin":242543,"position":1},"title":"Bom HC | RBI Circulars granting moratorium on loan repayment does not apply to mutual funds and debentures","author":"Bhumika Indulia","date":"July 17, 2020","format":false,"excerpt":"Bombay High Court:\u00a0A Division Bench of R.D. 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Petitioner had made a private placement of 650\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/09\/Bombay-HC.jpg?resize=1050%2C600&ssl=1 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Anwesha Pal++ Cite as: 2022 SCC OnLine Blog Exp 75","rel":"","context":"In "Op Eds"","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/10\/Role-of-Reserve-Bank-of-India-in-the-Conundrum-of-Resolution-of-Stressed-Assets-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/10\/Role-of-Reserve-Bank-of-India-in-the-Conundrum-of-Resolution-of-Stressed-Assets-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/10\/Role-of-Reserve-Bank-of-India-in-the-Conundrum-of-Resolution-of-Stressed-Assets-1.jpg?resize=525%2C300&ssl=1 1.5x, 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The Dearness relief payable to the government pensioners has been increased from 17% to 28%. 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