Pension: NABARD ex-chiefs write to Finance Minister

A group of former chairmen and managing directors of National Bank for Agriculture and Rural Development (NABARD) wrote to Union Finance Minister Nirmala Sitharaman seeking resolution of their long-pending pension issues. Employees and retired employees of the organisation have been agitating for over 1.5 years seeking fulfilment of their demands.

The United Forum of Officers, Employees and Retired Employees of NABARD (UFOERN) says employees of NABARD, which was carved out of the RBI by replacing three of its departments to focus on agriculture and rural development in 1982, were getting all benefits on a par with RBI staff. In the last seven years, RBI pension regulations underwent revisions with the approval of the Department of Financial Services, Union Finance Ministry. However, the DFS is yet to approve these for NABARD staff, creating disparity between those who had opted for NABARD and those who had opted to stay back in RBI.