THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a): Banks have been permitted to formulate, with the approval of their respective Boards
of Directors, fixed deposit schemes specifically for resident Indian senior citizens offering
higher and fixed rates of interest as compared to normal deposits of any size. These schemes
should also incorporate simplified procedures for automatic transfer of deposits to nominee
of such depositors in the event of death. The above additional interest is not applicable to
any type of non-resident deposits.
(b)&(c): During 2008-09, 2009-10 and 2010-11, total number of pension related grievances
received by the office of the Banking Ombudsman in respect of Scheduled Commercial Banks
were 2916, 4831and 5810, respectively. However, category wise and sector wise data of
complaints received as well as bank-wise and sector wise disposal of complaints are not
maintained.
(d): The CMD/Managing Director of Banks ensure that representations received are attended
to promptly.
(e): In March 2011, the Reserve Bank of India has advised all agency banks to ensure that
any delay in disbursement of regular pension, revised pension or any type of pension arrears,
etc, irrespective of the type of pension (whether normal pension, pension (DA) relief
or pension arrears) or any category of pensioners (Central/ State/ Railway/ Defence/ Telecom
/Freedom fighters, etc) should be compensated @ Bank Rate plus 2% penal interest for the
delayed period and the same is credited to the pension account on the same day by the bank
for the delay without getting any claim from the pensioner.
