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NOW, KEEP PENSION AMOUNT IN PRIVATE BANKS

Pension-People410

Image Source – berkeley.edu

Lucknow: In a decision that would facilitate lakhs of senior citizens, the UP government has allowed them the option of holding their pension account in private banks as well. Principal secretary, finance, Rahul Bhatnagar, told TOI that a long-pending demand of senior citizens had been fulfilled with this decision taken on Tuesday. “It is the first time this facility has been extended to government pensioners,” Bhatnagar added.

 There are estimatedly 7.5 lakh pensioners of whom 5 lakh are employees of the state government, including 2 lakh teachers and 50,000 of the all-India services, who could so far hold pension accounts only in nationalised banks, as per Schedule I of Reserve Bank of India.
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