Central govt approves wage revision of PSU general insurers, NABARD, RBI employees, pensioners: Finance Ministry

The central government has approved wage revisions for PSU General Insurance companies and the National Bank for Agriculture and Rural Development (NABARD), as well as a pension revision for retirees of the Reserve Bank of India and NABARD. A total of 46,322 employees, 23,570 pensioners and 23,260 family pensioners will benefit from the wage revision, the finance ministry said on Friday. Regarding the wage revision of PSU General Insurance companies, the ministry said it will be effective from August 1, 2022. The total outgo will be to the tune of Rs 8,170.30 crore, which includes Rs 5,822.68 crore towards wage arrears under the wage revision, Rs 250.15 crore for NPS, and Rs 2097.47 crore for family pension.

 

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