SBI disburses Rs 1,465 crore OROP arrears

Updated - November 17, 2021 02:02 am IST

Published - March 14, 2016 05:07 pm IST - Mumbai

State Bank of India on Monday released arrears worth Rs 1,465 crore to 7.75 lakh defence pensioners under One Rank One Pension (OROP) scheme.

“As per government guidelines, first instalment (1/4th of the total arrear amount up to February, 2016) to service pensioners and full amount of arrears to ‘family pensioners’ and ‘gallantry award’ pensioners will be paid on 14th March, 2016,” SBI chairman Arundhati Bhattacharya said in a statement.

“All pensioners will get revised basic (pension) from March 2016 onwards,” Ms. Bhattacharya said.

SBI noted that while the bank has taken utmost care in the computation and release of arrears to maximum number of eligible defence pensioners, there could be cases where it has not been able to release >OROP arrears due to information gaps in the data available with the bank.

“All such persons may approach their pension-disbursing branch and provide the missing information for an early release of the arrears,” the statement added.

SBI has introduced facilities in all branches and centralised pension processing centres to provide arrear details to the pensioners.

As per government directions, payment of arrears would be made by the pension-disbursing authorities in 4 installments, except for family pensioners and pensioners in receipt of gallantry awards, who will be paid arrears in one installment.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.