New Delhi: Bandhan Bank on Wednesday announced that it has been authorised by Reserve Bank of India (RBI) for disbursement of pension through e-PPOs on behalf of Ministry of Railways.
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Bandhan Bank said that it will soon be integrating with the Ministry of Railways to operationalise the pension disbursement process.
In a statement Bandhan Bank said that this authorisation enables the Bank to disburse pension to all employees of Ministry of Railways who have retired from their service. This mandate also provides the Bank an access to around 50,000 average Indian Railways retirees every year across all offices including 17 zonal railways and 8 production units of Indian Railways.
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“This will provide the existing as well as new customers of Bandhan Bank an opportunity to avail the world class banking services, competitive interest rates along with senior citizen privilege provided by the Bank. Pensioners also get access to more than 1640 branches and best in class digital banking platform of Bandhan Bank,” the bank said.
Debraj Saha, Head – Government Business, Bandhan Bank said, “Authorization to disburse pension to retired employees of railways provides an opportunity to serve them with the best products and services of the bank. It also gives the retired employees an opportunity to enjoy the most competitive rates provided by Bandhan Bank”.
Indian Railways in the largest employer in the country with an employee strength of nearly 12 lakhs.
