Bandhan Bank, one of the fastest growing private sector banks, announced that it has been appointed by Reserve Bank of India (RBI) as an authorised pension disbursement bank on behalf of Central Pension Accounting Office (CPAO), Ministry of Finance, for the civil pensioners. The Bank will soon be integrating with the office of CPAO to operationalise the disbursement process.
The bank is authorized to disburse pensions to Central Government employees in Civil Ministries/Departments, National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired Judges of High Courts and Supreme Court, and All India Service Officers.
This Scheme also covers payment of pension to former Members of Parliament and the payment of pension and other amenities to former Presidents/Vice Presidents of India. Debraj Saha, Head – Government Business, Bandhan Bank said, “We thank the regulators for placing their trust in us with this all-important mandate.”
