Bandhan Bank,a pan-India universal bank, 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. Indian Railways in the largest employer in the country with employee strength of nearly 12 lakhs. The Bank will soon be integrating with the Ministry of Railways to operationalise the pension disbursement process.
Bandhan Bank has been granted authorization to disburse pensions to retired employees of the Ministry of Railways, providing access to approximately 50,000 average Indian Railways retirees annually across all offices, including 17 zonal railways and 8 production units.
This will offer customers world-class banking services, competitive interest rates, senior citizen privileges, access to over 1640 branches, and the best-in-class digital banking platform of Bandhan Bank. Debraj Saha, Head – Government Business, Bandhan Bank said, “This new authorisation allows us to play a pivotal role in the efficient disbursement of pensions to Indian Railways retirees, contributing to their financial well-being during their golden years. We are now better equipped to serve retirees in a more streamlined, secure, and prompt manner.”
