Memorandum of Understanding between Central Sanskrit University and State Bank of India
Date
2023-02-18
Journal Title
Journal ISSN
Volume Title
Publisher
Central Sanskrit University, New Delhi
केन्द्रीय संस्कृत विश्वविद्यालय, नई दिल्ली
केन्द्रीय संस्कृत विश्वविद्यालय, नई दिल्ली
Abstract
Description
A Memorandum of Understanding was signed on 18th February 2023 at New Delhi between Central Sanskrit University and the State Bank of India to facilitate pension disbursement services to CSU's retired employees across India. Under this MoU, SBI will act as the authorized agency to credit pensions through its network of base branches, with Delhi Cantt Branch designated as the Link Branch and SBI Chandni Chowk as the Centralised Pension Processing Centre. The agreement outlines the responsibilities of the base branches, link branch, and CPPC in ensuring timely credit of pensions, submission of life and other certificates, maintaining pension-related documents, and handling grievances. CSU will maintain sufficient funds and a Fixed Deposit of ₹3 crore in SBI, and also indemnify the bank against any claims or losses. The MoU ensures efficient and coordinated pension delivery to all existing and future CSU pensioners.
Keywords
MoU, Memorandum of Understanding, TDS Deduction, Ministry of Education, Pension Payment Orders, Pensioner Life Certificate, Core Banking System