Bandhan Bank, a pan-India universal bank, has been authorized by the Reserve Bank of India (RBI) to disburse pensions through e-PPOs on behalf of the Ministry of Railways, the largest employer in India with nearly 12 lakhs employees. The bank plans to integrate with the Ministry to operationalize 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. 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.”
Bandhan Bank is offering world-class banking services, competitive interest rates, and senior citizen privileges to both existing and new customers. Pensioners will have access to over 1640 branches and the bank’s best digital platform.
