On 25th April, 2018, a Supreme Court Decision has come in favour of employees of Regional Rural Banks (RRB). After a two decade long legal battle, Supreme Court has now decided that employees of RRBs to draw pension at par with Nationalised Banks.
Supreme Court directed the government to implement a pension scheme in all RRBs uniformly as available in nationalized banks as per the bipartite settlement in 1993 and dismissed the special leave petition filed by the government in 2012.
The decision will have effect retrospectively and the RRB employees will be eligible for the pension with effect from November 1991.
There are 56 RRBs with more than 21000 branches in rural areas of the country. The RRBs have manpower of around 95000 and also there are around 27000 retirees, who will be benefited from this decision.
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