SDMC signs MoU for timely disbursement of pension

New Delhi: South Delhi Municipal Corporation (SDMC) on Monday signed an MOU with the Corporation Bank for timely, accurate and reliable disbursement of monthly pension to the pensioners and family pensioners. SDMC has entered into this MOU to give an option to pensioners to opt a bank which gives better services to them.

Mayor Narender Chawla said that SDMC is committed to ensuring hassle-free disbursal of the pension to all its pensioners and family pensioners. "We have, in fact, extended the ambit of service providers in respect of disbursement of pension to give more option to the pensioners".

He further said that the incentive amount of rupees one thousand per annum being given to around 1.20 lakh girl students studying in 581 SDMC schools will be transferred to their fixed deposit account and the total due amount with special additional incentive from Corporation Bank will be paid to them at the age of 18 years. On the maturity of the fixed deposit account, the total huge amount being given by Corporation bank could be used by girl students for their higher education.