Salary & Pension Hike for PSGICs, NABARD & RBI Employees Approved
Central Government approves the long-pending salary and pension hike; all beneficiaries will also receive arrears for four years
Jan 24, 2026 – The Central Government on Friday (January 23) has approved the long-pending salary and pension hike for employees and pensioners associated with government insurance companies, NABARD and the RBI. According to the Ministry of Finance, this decision will benefit thousands. In total, around 46,322 employees, 23,570 pensioners and 23,260 family pensioners across these institutions are expected to benefit from the decision.
Who all will benefit – public sector general insurance companies (PSGICS), employees and pensioners of NABARD (National Bank for Agriculture and Rural Development) and retired employees of the Reserve Bank of India (RBI) and their family pensioners.
The PSGICs include National Insurance Company Ltd. (NICL), New India Assurance Company Ltd. (NIACL), Oriental Insurance Company Ltd. (OICL), United India Insurance Company Ltd. (UIICL), General Insurance Corporation of India (GIC) and Agricultural Insurance Company Ltd. (AICIL).
For PSGICS employees, the salary revision will be effective from August 1, 2022. This will result in a 12.41% increase in the overall wage bill, including a 14% hike in basic pay and Dearness Allowance, benefiting around 43,247 employees.
For NABARD employees, the revision is effective from November 1, 2022. Retired RBI employees will receive a 10% increase in their pensions. All beneficiaries will also receive arrears for four years.
Source: Media Reports
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