INSUBCONTINENT EXCLUSIVE:
KOLKATA: The government is mulling capital infusion into regional rural banks to reduce the payout burden of the new pension scheme which
The new scheme also covers persons already drawing pension.
The Department of Financial Services has directed the National Bank for
Agriculture Rural Development (Nabard) to ascertain the size of the capital requirement, one of the persons cited earlier told ET
Nabard, in turn, has directed every RRB to appoint actuaries for the calculation.
Each of these banks will create a pension corpus by
transferring fund from their profit and loss account
This exercise would dampen their profit numbers and may also lead to book losses
ET.
While the actuarial valuation on the pension corpus will take some time, RRB union members are guessing that the cumulative size could
with their 35% holding in each RRB, and the respective state governments with 15% shareholding, will have to share the burden
