The Reserve Bank today directed banks that a pensioner's account should not have more than 14 credit transactions in a calendar year for pension and arrears payments. In a notification issued from Mumbai, RBI has said that these transactions include one monthly credit for payment of net pension and a maximum of two per year for payment of arrears on account of increase in dearness relief, if applicable.RBI has also directed banks that cases involving payment of arrears on account of late start/restart of pension qualifies as a single transaction for claiming of agency commission. Currently, agency banks are compensated at Rs 65 per transaction for handling pension computation, payment and related services on behalf of central and state governments. In a separate notification, RBI has directed cooperative banks to accept cheques bearing a date as per National Calendar or Saka Samvat for payment. It adds that a cheque written in Hindi and bearing a date in Hindi is a valid instrument. RBI, has however advised banks to ascertain the Gregorian calendar date corresponding to the National Saka calendar in order to avoid payment of stale cheques.