RBI cautions states against reverting to the old pension scheme (OPS)

RBI cautions states against reverting to the old pension scheme (OPS): The Reserve Bank of India (RBI) has cautioned states against reverting to the old pension scheme (OPS), which was in vogue till 2004, stating that it will add to the fiscal burden of States in the coming years. The central bank says OPS – instead of the National Pension Scheme (NPS) — will lead to the accumulation of liabilities which can become a major risk in the future. What did RBI say about the old pension scheme? According to the RBI, a significant risk looming large on t      Read More