Govt approves wage, pension revisions for PSU insurers, NABARD, RBI

The Indian government has decided to increase the salaries and pensions of people who work for public sector general insurance companies, NABARD, and those who have retired from the Reserve Bank of India.

This change will help a lot of people, including 46,322 employees and 23,570 pensioners.

For the insurance companies, the new salaries will start from August 1, 2022, and the government will spend about ₹8,170.30 crore on this.

For NABARD, the new salaries will start from November 1, 2022, and the government will spend an extra ₹170 crore every year.

For RBI retirees, their pensions will increase by 10% starting from November 1, 2022.

This is good news for these people because they will get more money.