Lok Sabha Question No. 3551 (UNSTARRED), answered on 2021-12-20
Subject: Revision of Pension in NABARD
Ministry: FINANCE
Asked by: V. Kalanidhi

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA

## UNSTARRED QUESTION NO. 3551

TO BE ANSWERED ON 20 th  DECEMBER, 2021(MONDAY)/ AGRAHAYANA 29, 1943(SAKA)

## Revision of Pension in NABARD

3551. DR. KALANIDHI VEERASWAMY:

Will the Minister of FINANCE be pleased to state:

- (a) whether pension in respect of NABARD employees has not been revised since 1986 but the same has been revised in case RBI retirees upto 2012 and if so, the details thereof;
- (b)  whether  as  per  1981  NABARD  Act,  pay,  perks  and  superannuation  benefits  of  NABARD employees are at par with those of RBI and if so, the details thereof and the reasons for unequal treatment of NABARD employees;
- (c) whether interim relief for NABARD retirees was granted in July 2020 which was withdrawn in August 2020 and if so, the reasons therefor;
- (d)  whether  Management  Board  of  NABARD  wrote  to  Government  about  matter  and  if  so,  the details thereof and response of the Government thereto;
- (e) whether the said response of the Government was conveyed to the NABARD Management and if so, the details thereof;
- (f)  whether  the  Government  proposes  to  give  some  updated/revised  pension  to  NABARD employees and if so, the details thereof; and
- (g) whether the Government considers NABARD equivalent with PSBs even though NABARD is not a bank as per definition of Banking Regulation Act and if so, the reasons therefor?

## ANSWER

## THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (DR. BHAGWAT KARAD)

- (a)  and  (b):  Pension  to  National  Bank  for  Agriculture  and  Rural  Development's  (NABARD) employees  is  governed  by  the  National  Bank  for  Agriculture  and  Rural  Development's  Pension Regulations,  1993.  In  case  of  Reserve  Bank  of  India,  pension  to  its  employees  is  governed  by Reserve Bank of India Pension Regulations, 1990.  Thus pension to NABARD pensioners and RBI pensioners are  governed  by  different  regulations  made  under separate  Acts.  Similarly,  the  pay, perks  and  allowances  are  also  governed  by  their  respective  wage  settlements  as  well  as acts/rules/regulations framed for this purpose. Pensioners/Retirees of NABARD have been granted Dearness Relief on pension and the same has increased from time to time i.e. on half yearly basis.
- (c) to (e):  As  per information provided by NABARD, the grant of interim relief to its retirees was approved  by  NABARD  bank's  Board  in  its  234 th   meeting  held  on  15.7.2020.  Subsequently, NABARD's Board itself withdrew the relief granted in its 235 th  meeting held on 22.9.2020.
- (f): NABARD Board have sought revision and improvement in pension/family pension from time to time. The Central Government, following a request made by NABARD, on 5.8.2014, has approved revision  of  family  pension  at  uniform  rate  of  30%  subject  to  a  minimum  of  Rs.  3500/-  p.m.  and maximum  of  Rs.  24,495/-  p.m  and  minimum  pension  to  Rs.  3500/-.  Currently  no  proposal  for updation/revision of pension to NABARD employees is under consideration of Government.
- (g): NABARD  &  Public  Sector Bank  (PSBs) are governed & regulated under separate Acts/Rules/Regulations.

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