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Nabard retired staff hold protests across country
February 22, 2021
Even after 40 years after its inception, the employees of the National Agricultural Bank for Rural Development (Nabard) complain of a pension anomaly that puts them in a disadvantageous position when compared to their peers in the Reserve Bank of India.
They compare their salaries, benefits and pension with that of the peers in the RBI because a large portion of its employees (3,000) were hired from the apex bank when the Nabard was conceived in 1981.
The pensions are not being revised on the implementation of new pay scale for the regular employees, keeping the pension slabs very low.
Read more about Nabard plans to raise up to Rs 40,000 crore through long-term bonds on Business Standard. The money raised will be mostly used for rural development programmes run by the government
Increase in allocation to the Rural Infrastructure Development Fund (RIDF) to Rs 40,000 crore and doubling of Micro Irrigation Fund announced in the Budget will accelerate the progress of ongoing rural infrastructure projects, Nabard chairman G R Chintala said on Monday. While presenting the Budget 2021-22, Finance Minister Nirmala Sitharaman said, We are enhancing the allocation to the Rural Infrastructure Development Fund from Rs 30,000 crore to Rs 40,000 crore. She also announced to increase the corpus of the Micro Irrigation Fund by Rs 5,000 crore to Rs 10,000 crore. Both the funds are being created under the National Bank of Agriculture and Rural Development (Nabard).
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