MHA Withdraws Its Controversial Order On SBI
The Union Home Ministry withdrew its March 5 order that had divested State Bank of India of its role in disbursing pensions to 12,000 freedom fighters. However, SBI will no longer have a monopoly in disbursing the said pension. The pensioner can now opt for any of the specified 19 nationalized banks to disburse his pension. In case he is not satisfied with SBI’s services or does not have a SBI branch near by his residence., he can shift his account to another bank depending on his convenience.
Another order issued by the ministry on April 6 re-confirmed that SBI will only disburse the pension till May 2015 and from June onwards, the pension will only be disbursed from any of the other 19 nationalized banks chosen by the pensioner. However, with Tuesday’s order, SBI can still disburse the pension but the 12,000 pensioners will now have an option to shift their bank if they desire so.