Revision In Bank Family Pension: RBI's Gift To Bank Employees, Check Details

In its latest notification, the RBI said that the liability for enhancement of family pension shall be fully recognised as per applicable accounting standards after examining various representations of the Indian Banks’ Association.

RBI

Ahead of the festive season, the Reserve Bank of India (RBI) has allowed banks to amortise the additional liability on account of revision in family pension over five years beginning 2021-22.

In its latest notification, the RBI said that the liability for enhancement of family pension shall be fully recognised as per applicable accounting standards after examining various representations of the Indian Banks’ Association.