Page 8 - Banking Finance December 2018

BAN U A

r rth for easin en in to M M s
es Ban hair an
r rth non officia director Reser e Ban of ndia RB oard said the
sho ha a its
f o of credit to icro s a and edi enterprises
sho ha a es
M M s sho d e eased to p sh p ro th. trict capi
Ban s non e ec
ta ade ac nor s in ndia nnecessari red ce the f o
ti e chair an
of credit he said. he r e in estion is eant to pro
stepped do n
ide an s a sta e reso rce to a sor osses fro the ris
ith i ediate
in its siness.
effect the an
he Base nor s as for capita ade ac of per cent
anno nced. he
for an s hich are internationa acti e and per cent for those hich are
an said ha a has tendered his
not. et said r rth despite there ein on fo r internationa acti e
resi nation
an s in ndia a an s ha e een forced into ha in per cent capita . t
the pre io s RB oard eetin r rth is nderstood to ha e ar ed for
nfor e ent ire torate
easin of credit to M M s re a in the present nor s on de t one ad.
f a s on i s he e in so that the r e in this re ard for p acin a an nder ro pt orrecti e
ction e re ised.
na e of s a i Ban in
he nforce ent irectorate has
entra o ern ent ppro es e ension he e for
ritten to
Re iona R ra Ban s
RB a o t
a e ed d i he entra o ern ent has decided to a e ationa ension che e co
o s acti i p sor for ne re iona r ra an e p o ees. he
ties of a defined contri tion pension sche e i co e into
arnata a p ace for e p o ees oinin after March this ear
ased fir char in it ith r nnin t o peop e fa i iar ith the de e op ent said.
a pon i sche e in the na e of s
is a read in p ace for nationa ised an e p o
a ic an in or ha a in est ent
ees since pri 2 . he defined contri tion sche e
and co ectin o er Rs crore
is a nched in an ar 2 for o ern ent e p o ees. t as opened to p ic
f nds.
in 2 . scri ers can opt for in estin in fi ed deposits or i id f nds or can
he office in Ben a r has a so choose e it in est ent p to of their corp s. has a so fina i ed the
ritten to arnata a o ice see in oda ities for the pendin pension sche e for e istin RRB e p o ees and re
a Rs fi ed it a ainst the fir on tirees. t has decided that peop e ho ere in ser ice as on epte er 7
the a e ed chit f nd sche e ein i e e i i e for pension at par ith nationa i ed an s. he i et pension
r n it in order to st d the case i effect fro pri this ear t decision on arrears prior to pri is et to e
co prehensi e and fi e a fresh ta en so rces said. fficia s of a do en nationa ised an s and chair en of fo r
cri ina case nder the re ention RRBs attended the eetin .
of Mone a nderin ct M . t has a so een decided that RRBs i pa pension fro their or in capita
s a ic an in or ha a in est ent ti a str ct red pension f nd or tr st is created as per pro ision of ension
is i e a in ndia. Re ations.
he identified the acc sed fir as o t 27 retired RRB e p o ees i start ettin pension no . ar ier the
Ms idant Mar etin ri ate i sed to et a eas pension pa ent an thin et een Rs and Rs 2
ited r n one areed h ed and a onth fro Re iona ro ident nd o issioner. ensioners i ha e to
fa h ed and said it first ca e ref nd pa ent ade the R fro pri .
nder its radar in an ar for a e ed
he rate of asic pension i e percent of the a era e pa as defined in
M contra entions and s se
pension sche e for f ti e e p o ees. ccordin a person ho sed to dra
ent searches ere cond cted on
Rs 2 fro R i no recei e Rs a onth senior RRB e p o ees
the co pan that onth.
said.

| 201 | DECEMBER | B CE