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[Cites 0, Cited by 0] [Section 23] [Entire Act]

Union of India - Subsection

Section 23(1) in Reserve Bank of India Pension Regulations, 1990

(1)At Bank's discretion an employee shall be eligible to add to his service qualifying for superannuation pension (but not for any other class of pension) the actual period not exceeding one-fourth of the length of his service or the actual period by which his age at the time of recruitment exceeded twenty-five years or a period of five years, whichever is less if the service or post to which the employee is appointed is one -
(a)for which post-graduate research, or specialist qualification or experience in scientific, technological or professional fields, is essential; and
(b)to which candidates of more than twenty-five years of age are normally recruited.
Provided that this concession shall not be admissible to an employee unless his actual qualifying service at the time he quits the Bank's service is not less than ten years.Explanation. - This concession shall not be available to an employee recruited in the Bank at more than twenty-five years of age merely on the basis of relaxation of age.