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Major salary and pension hike announced for insurance, RBI and NABARD employees

The central government has approved significant wage and pension revisions for employees and retirees of public sector general insurance companies (PSGICs), NABARD, and the Reserve Bank of India (RBI). This decision will benefit over 46,000 employees and pensioners, with wage increases effective from August 1, 2022, and a total financial impact of approximately ₹8,170.30 crore.

Major salary and pension hike announced for insurance, RBI and NABARD employees

Credit: Mathrubhumi

Key Highlights

  • 14% basic pay hike for PSGIC employees.
  • 20% salary increase for NABARD employees.
  • 10% pension revision for RBI retirees.
  • Effective date for PSGIC wage revision is August 1, 2022.
  • Total beneficiaries include over 46,000 employees and pensioners.
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Sources

  1. Government approves wage revision of PSU general insurers, NABARD, RBI employees, pensioners
  2. Major salary and pension hike announced for insurance, RBI and NABARD employees

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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