RESERVE BANK OF INDIA PENSION REGULATIONS, 1990

regulations · 1934 · State unknown

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Parent: THE RESERVE BANK OF INDIA ACT, 1934 (edb4b0bb51aeed408edafc1e5ca731cd0dbe73f6)

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RESERVE BANK OF INDIA PENSION REGULATIONS, 1990 In Exercise of the powers conferred by clause (j) of sub-section (2) of Section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board of the Reserve Bank of India, with the previous sanction of the Central Government, hereby make the following Regulations: CHAPTER I PRELIMINARY 1. Short title and commencement These Regulations may be called the Reserve Bank of India Pension Regulations, 1990. They shall come into force on the 1 st November 1990. 2. Definitions In these Regulations, unless the context otherwise requires :- ‘Act’ means the Reserve Bank of India Act, 1934 (2 of 1934) ; 'Average Emoluments' means the average of pay drawn by an employee during the last 10 months of his service ; ‘Bank’ means the Reserve Bank of India ; 'Central Board' means the Central Board of Directors of the Bank constituted under the Act ; 'Competent Authority' shall have the same meaning as in the Reserve Bank of India (Staff) Regulations, 1948 ; 'Date of Retirement' means the date on which an employee attains the age of superannuation or he is retired by the Bank or the date on which the employee voluntarily retires; 'Employee' means any person employed in the service of the Bank on full-time work or on part-time work exceeding thirteen hours per week but shall not include a person employed on contract basis or on daily-wage basis ; ‘Family’ means, (a) wife in the case of male employee and husband in the case of female employee, (b) son or daughter (including widowed or divorced daughter) till he or she attains the age of twenty-five years or upto the date of his or her marriage or re-marriage or till the date from which he or she starts earning a sum as decided by the Bank with the approval of the Central Government fr

Rule TOC

1 · Short title and commencement

2 · Definitions

3 · Application

4 · Eligibility

5 · . In the matter of the application of these Regulations regard may be had to the corresponding provisions of the Civil Service Regulations or the Liberalised Pension Rules or the Civil Pensions (Commutation) Rules or the Family Pension Scheme for Central Government employees, as the case may be, of the Government of India in so far as they can be adapted to the service in the Bank but subject to such exceptions and modifications as the Bank may, from time to time, determine.

6 · Pension subject to future good conduct

7 · Right of the Bank to withhold or withdraw pension

8 · (i) An employee who has retired on attaining the age of superannuation or otherwise and against whom any departmental or judicial proceedings are instituted or where departmental proceedings are pending, a provisional pension equal to the maximum pension which would have been admissible to him would be allowed subject to adjustment against final retirement benefits sanctioned to him upon conclusion of the proceedings but no recovery shall be made where the pension finally sanctioned is less than the provisional pension or the pension is reduced or withheld etc. permanently or for a specified period.

9 · An employee against whom the departmental or judicial proceedings have been instituted before the date of his retirement or the person against whom such proceedings are instituted after the date of his retirement shall not be eligible to commute a fraction of his provisional pension authorised under Regulation 8 of these Regulations, as the case may be, during the pendency of such proceedings.

10 · Commercial Employment on Retirement

11 · Commencement of Qualifying Service

12 · Broken period of service of less than one year

13 · Counting of service on probation

14 · Counting of military service

15 · Counting of period spent on leave

16 · Period spent on training

17 · Period of suspension

18 · Forfeiture of service on resignation or dismissal or termination

19 · Period of deputation to foreign service

20 · Period of deputation to an organisation in India

21 · Period of deputation in the Reserve Bank of India

22 · Leave Preparatory to Retirement

23 · Addition to qualifying service in special circumstances

24 · Superannuation pension

25 · Premature retirement pension

26 · Invalid pension

27 · Compassionate allowance

28 · Rate of pension

29 · Dearness relief on pension

30 · Commutation

31 · Payment of pension to employees who retired between 1 st January 1986 and 31st October 1990

32 · Family Pension

33 · Basic pension of pensioners