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  • Category: Miscellaneous

    Payment of welfare pensions at home.

    In Kerala the payment of welfare pensions like Old age pension, widow pension, pension for unmarried women (above the age 60), disabled pension and agriculture laborer's pension are paid through Service cooperative Banks. People from these banks take the pension amount to the pensioner's home. It is paid after verifying the identity (Aadhar Card) and get the pensioners signature or finger print. The amount will be intimated and the person verifies it. This is followed in each case. This makes sure that the amount goes to the hands of the true pensioner. Our Bank (the service cooperative bank of which I am the President) could pay about eighty lakh rupees to hundreds of people spread over six Kochi Corporation Councils. Throughout Kerala this method has been implemented.
  • #579283
    Are such service banks having core banking facilities i.e. are online transactions possible? Is there a system of pensioners having their savings bank account in the bank and the pension is credited directly to their account instead of disbursing the same in cash directly in the hands of the pensioners each month after undergoing the process of verification using Aadhar Card and taking signature/thumb impression?
    Let us encourage each other in sharing knowledge.

  • #579288
    The Order from the Government specifically states that the amount must be handed over in person at home. In certain cases pensioners were not at home, even after two visits by the distributing agent, pensioners came to the bank with identification details to collect pension. For such persons the amounts were distributed at bank. Government have not directed to remit the same in pensioner's SB account, even if one has such an account. (Many of the pensioners are aged, sick and less educated - cannot come all the way to the Bank). Service Cooperative Banks are not connected through the core banking system. (This facility exist between the Head office and Branches of the Bank).
    T.M.Sankaran
    Gold Member ISC

  • #579293
    The old age pension scheme is prevalent in almost all the state. Either too it was misused by the middle men and only pittance was reaching the real beneficiary or nothing. Having gauged this problem the Telangana government has ensured that only the beneficiary shall come the the bank and the Manager shall identify the senior citizen and then hand over the money without any hassle. Each senior citizen is getting 1000 per month on the first day of every month and that is really helpful because elders if they want to spend for themselves, they have to rely on others and this money would be self earning for them.
    K Mohan
    I consider myself as the learner everyday

  • #579302
    I appreciate the efforts doing your bank and your state government. The things explained by Mr,TM Sankaran is vey satisfactory. Let other banks and states should take such type of initiatives.
    'Education is a lifelong process, keep on learning new things'


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