Don’t miss the latest developments in business and finance.

OROP Arrears Payment in Record Time

Image
Capital Market
Last Updated : Mar 22 2016 | 9:28 AM IST
The Government of India which accords utmost importance to the welfare of Ex-Servicemen, has kept its promise with regard to the historic decision taken on 05 September 2015 to implement the more than four decades old demand of Ex-Servicemen for One Rank One Pension (OROP), by ensuring that payments have begun to the concerned in record time.

Orders had been issued with regard to this historic decision, through a notification on 07 November 2015 by the Department of Ex-Servicemen Welfare (ESW) of the Ministry of Defence.

Then within just three months of the issue of these orders, the Department of Ex-Servicemen Welfare (ESW) brought out detailed OROP tables on 03 February 2016. The 101 tables in these implementation orders contain revised pension of different ranks and categories. In the past implementation of CSC-2012 and 6th CPC had taken a longer time.

More than two-thirds of the Ex-Servicemen have now been paid the OROP arrears. Payments have now reached the accounts of 13.02 lakh pensioners amounting to about Rs. 2,293 crore. This amount has been released through Defence Pension Disbursing Offices (DPDOs), the State Bank of India (SBI) and the Punjab National Bank (PNB).

The details are as follows:-

As on March 17, the DPDOs have released an amount of about Rs. 606 crore to about 3.20 lakh defence personnel.

The SBI has as released upto March 17 an amount of Rs. 1,337 crore to 7.75 lakh pensioners which includes Family Pension cases. The PNB has released as on March 17, an amount of about Rs. 350 crore to about 2.07 lakh pensioners which includes Family Pension cases.

Other Banks who have also been assigned the task of disbursement of revised defence pension to Ex-Servicemen have been directed to complete the process of payment latest by March end.

Powered by Capital Market - Live News

Also Read

First Published: Mar 22 2016 | 9:12 AM IST

Next Story