Reserve Bank of India Pension Amendment Regulations, 2023

RESERVE BANK OF INDIA
(Central Office)
(HUMAN RESOURCE MANAGEMENT DEPARTMENT)
NOTIFICATION
Mumbai, the 31st October, 2023

No. CO. HRMD No. S9781 / 21.01.000 / 2023-24.—In exercise of the powers conferred by clause (j) of subsection (2), read with sub-section (3), of section 58 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Board, with the previous sanction of the Central Government, hereby makes the following regulations further to amend the Reserve Bank of India Pension Regulations, 1990, namely:-

1. Short title and commencement.- (1) These regulations may be called the Reserve Bank of India Pension (Amendment) Regulations, 2023.

(2) Except as otherwise provided, they shall come into force on the date of their publication in the Official Gazette.

2. In the Reserve Bank of India Pension Regulations, 1990 (hereinafter referred to as the said regulations), in regulation 2, in sub-regulation 8, for clause (b), the following clauses shall be substituted, namely: -

“(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 from time to time, whichever is earlier; and also includes a son/ daughter adopted legally before retirement as well as a posthumous child;

(c) parents who were wholly dependent on the employee when he or she was alive, provided that the deceased employee had left behind neither a widow or widower, nor a child and that the earning of the parents per month is not more than the sum as decided by the Bank with the approval of the Central Government from time to time.”.

For full notification please refer to the attachment.