Defence pensioners! The Centre will benefit 32 lakh ex-servicemen.

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The MoU will create more than 7,900 branches of Bank of Baroda and 6,300 branches of HDFC Bank across India.

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This will help pensioners perform profile updates, register grievances, and provide redress.

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The government has taken various actions in the past to help defence pensioners.

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This move will benefit around 32 lakh veterans who have already left the military.

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The defence secretary said the aim is to have 17 lakh pensioners receiving defence pensions.

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Under the State Pension Scheme (SPARSH), transferred over to the scheme by September 2022.

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All pensioners who are currently receiving defence pensions will be brought onto the SPARSH scheme as soon as possible.

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The average time for annuity settlement has been significantly reduced to about 16 days.

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It is important to note that many central government pensioners have difficulty receiving their pensions.

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The SPARSH initiative helps resolve grievances between businesses and their customers.

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