Centre approves wage revision for PSGICs, NABARD and pension hike for RBI retirees

New Delhi, Jan 23, 2026 : The Central Government has approved the wage revision for Public Sector General Insurance companies (PSGICs) and the National Bank for Agriculture and Rural Development (NABARD). The pension revision for retirees of the Reserve Bank of India (RBI) and NABARD has also been approved.

The Finance Ministry said that with these measures, a total of approximately 46 thousand 322 employees, 23 thousand 570 pensioners and 23 thousand 260 family pensioners will benefit. The decision is aimed at providing meaningful relief by helping beneficiaries better manage the rising cost of living while maintaining a dignified standard of living after retirement.

The Ministry further informed that the wage revision for employees of PSGICs will be effective from 1st of August 2022. The overall increase in the wage bill will be 12.41 per cent, including a 14 per cent hike in existing basic pay and dearness allowance.

For NABARD and RBI employees, the revision in pay and allowances will be effective from 1st of November 2022. The Ministry added that the revision amounts to around 20 per cent for all Group A, B, and C employees of NABARD, while the pension for RBI retirees will be enhanced by 10 per cent on basic pension plus dearness relief.