Section 7 in Reserve Bank of India Pension Regulations, 1990
7.
Right of the Bank to withhold or withdraw pension The competent authority may withhold or withdraw a pension or a part thereof, whether permanently or for a specified period, and order recovery from pension of the whole or part of any pecuniary loss caused to the Bank if in any departmental or judicial proceedings the pensioner is found guilty of grave misconduct or negligence during the period of his service including service rendered upon re-employment after retirement, provided that the Central Board shall be consulted before any final orders are passed.[Provided that such departmental proceedings if instituted while the employee was in service whether before his retirement or during his re-employment, shall after the final retirement of the employee be deemed to be proceeding under this rule and shall be continued and concluded by the authority by which they were commenced in the same manner as if the employee had continued in service.] [Additional Clause inserted vide A.C. No. 8 dated 14-6-1996.]Provided further that no departmental or judicial proceedings, if not initiated while the employee was in service, shall be instituted in respect of a cause of action which arose or in respect of an event which took place more than 4 years before such institution.Where the competent authority orders recovery of pecuniary loss from pension, the recovery shall not ordinarily be made at a rate exceeding one-third of the pension admissible on the date of retirement of the employee provided that where a part of pension is withheld or withdrawn, the amount of pension drawn by a pensioner shall not be less than [Rs.720/-] [Substituted for 'Rs. 375/-' w.e.f. 1-11-1992 vide A.C. No. 10 dated 20-03-1997] per mensem in the case of a full-time employee, and proportionate amount thereof in relation to rate of wages applicable in the case of a part-time employee.
