Banks To Disburse 6% Dearness Relief To Pensioners

All pension disbursing authorities including nationalised banks have asked to calculate the quantum of dearness relief payable to pensioners, after the recent 6% increase in it by the government. The move comes following a decision by the cabinet early this month regarding 6% hike (from 113% to 119%) in dearness allowance to central government employees and dearness relief to pensioners with effect from July 1, 2015.