Opening and operating the accounts of the beneficiaries of Indira Gandhi National old Age Pension Scheme (IGNOAPS)

Last updated: 03 November 2010

Notice Date : 01 November 2010

Opening and operating the accounts of the beneficiaries of Indira Gandhi National old Age Pension Scheme (IGNOAPS)

RBI/2010-11/253

RPCD.CO.FID. BC.No. /12.01.012/2010-11

November 1, 2010

The Chaiman & Managing Director/

Chief Executive Officer

All Scheduled Commercial Banks

(Including Regional Rural Banks)

Dear Sir,

Opening and operating the accounts of the beneficiaries of Indira Gandhi National old Age Pension Scheme (IGNOAPS).

Government of India has advised that the Committee on National Policy on Older Persons in their 4^th review meeting stressed on the need for an elderly friendly policy and to take concrete steps to make available adequate resources to this segment of the population. One of the decisions of the Committee was that the money should be directly transferred to the bank accounts of beneficiaries of Indira Gandhi National Old Age Pension Scheme.

2 Accordingly, you are advised to instruct your branches to facilitate opening of bank accounts of the beneficiaries of IGNOAPS to enable the Govt. of India to transfer the funds directly in to these accounts.

Yours faithfully

(Dr.Deepali Pant Joshi)

Chief General Manager-in-Charge