RBI issued Master Circular – Disbursement of Government Pension by Agency Banks
The following is been stated
In order to obviate the time lag between issue of DR orders and payment of DR to the beneficiary and to render expeditious service to senior citizens, the procedure of forwarding related government orders in respect of dearness relief etc. to pension disbursing agency banks has been discontinued.
All agency banks are advised to scrupulously follow all the guidelines/ instructions contained in various notifications of Government (Central as well as States) and take necessary action immediately without waiting for any further instructions from RBI.The pension paying banks will credit the pension amount in the accounts of the pensioners based on the instructions given by respective Pension Paying Authorities.
Whenever any excess/overpayment is detected, the entire amount thereof should be credited to the Government account in lump sum immediately, when the excess/overpayment is due to an error on the part of the agency bank.If the excess/wrong payment to the pensioner is due to errors committed by the government, banks may take up the matter with the full particulars of the cases with respective Government Department for a quick resolution of the matter.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12811&Mode=0
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