Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Tally On Cloud Tally on Cloud: Ready for the Daily Backup Requirement
Keep your Tally books accessible from anywhere while supporting your Rule 46(8) obligations. With daily backups configured on servers physically located in India, Tally on Cloud helps you maintain the backup arrangement required for electronic books of account under the Income-tax Rules, 2026. Move your Tally to the cloud with confidence.
Open DEMAT Account with in 24 Hrs and start investing now!
« Latest Circulars »
Open DEMAT Account in 24 hrs
 CORRIGENDUM TO TRADE NOTICE NO. 06/2026-CENTRAL TAX-Territorial re-organization of Divisions and Ranges within the jurisdiction of CGST & CX, Ahmedabad South Commissionerate
 FORM OF DECLARATION UNDER SUB SECTION (1) OF SECTION 214 OF THE FINANCE ACT, 2016 (28 OF 2016), IN RESPECT OF INDIRECT TAX DISPUTE RESOLUTION SCHEME, 2016
 MINISTRY OF FINANCEDEPARTMENT OF REVENUE NOTIFICATIONNo. [02/2026]1 – Central Tax
 NOTIFICATIONNo. 03/2026–Central Tax CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
 Notification No. 04/2026– Central Tax Central Board of Indirect Taxes and Customs
 Central Board of Indirect Taxes and CustomsNotification No. 05/2026–Central Tax
 Seeks to amend notification No. 5/2017- Central Tax dated 19th June, 2017
 Seeks to amend notification No. 5/2017- Central Tax dated 19th June, 2017
 Seeks to amend notification No. 5/2017- Central Tax dated 19th June, 2017
 TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB- SECTION
 Seeks to amend notification No. 27/2018- Integrated Tax (Rate) dated 31st December, 2018

Withdrawal of circulars - on Recovery of excess pension made to pensioners
January, 22nd 2021

RBI/2020-21/84
DGBA.GBD.No.SUO 546/45.01.001/2020-21

January 21, 2021

The Chairman / Chief Executive Officer
All Agency Banks

Dear Sir,

Withdrawal of circulars - on Recovery of excess pension made to pensioners

It has been brought to the notice of RBI that the recovery of excess /wrong pension payments from the pensioners are being made in a manner that is not in keeping with the extant guidelines / Court orders.

2. This issue has been examined by RBI and it has been decided that the following circulars issued by Department of Government and Bank Accounts, Reserve Bank of India related to recovery of excess pension paid by agency banks stands withdrawn with effect from the date of this circular -

  1. Circular no DGBA.GAD.No.2960/45.01.001/2015-16 dated March 17, 2016
  2. Circular no CO.DGBA (NBS) No.44/GA.64 (11-CVL) 90/91 dated April 18, 1991
  3. Circular no CO DGBA (NBS) No.50/GA.64 (11-CVL) 90/91 dated May 6, 1991.

3. It may please be noted that though the above-mentioned circulars issued under the signature of RBI stand withdrawn, agency banks are requested to seek guidance from respective Pension Sanctioning Authorities regarding the process to be followed for recovery of excess pension paid to the pensioners, if any.

4. As regards the issue of refund to be made to the government of excess/wrong pension payments, banks may be guided by the guidelines laid down in our Circulars Nos.DGBA.GAD.H10450/45.03.001/2008-09 dated June 1, 2009 and DGBA.GAD.H.4054/45.03.001/2014-15 dated March 13, 2015. Agency banks are again advised that, where excess pension payment has arisen on account of mistakes committed by the bank, the amount paid in excess should be refunded to the Government in lumpsum immediately after detection of the same and without waiting for recovery of any amount from the pensioners.

Yours faithfully

(Charulatha S Kar)
Chief General Manager

Home | About Us | Terms and Conditions | Contact Us
Copyright 2026 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting