Massive Salary & Pension Hike Approved for PSGIC, NABARD, RBI Employees & Pensioners

• Central Government approves long-awaited salary and pension revisions for employees and pensioners of Public Sector General Insurance Companies (PSGICs), NABARD, and RBI.
• Over 93,000 beneficiaries in the financial sector will receive financial relief, boosting morale and providing social security.
• PSGICs employees see a 12.41% increase in total wage bill, 14% hike in basic pay, and increased NPS contribution from 10% to 14% for post-2010 joiners.
• NABARD employees get an average 20% salary increase, while RBI and NABARD retirees receive significant pension and family pension revisions.
• Total estimated cost for these revisions is approximately Rs. 8,170.30 crores for PSGICs and Rs. 2,696.82 crores for RBI, including arrears.

Why It Matters: Central Government approves significant salary and pension hikes for over 93,000 financial sector beneficiaries.