Bandhan Bank gets civil pension nod

The Reserve Bank of India appointed Bandhan Bank for disbursement of civil pension. The bank will soon be integrated with the Central Pension Accounting Office (CPAO) for the disbursement procedure.

The bank will disburse pension to the Central government staff in civil ministries or departments other than railways, posts and defence, National Capital Territory of Delhi, Union Territory administrations without legislatures, retired judges of the high courts and the Supreme Court. This scheme covers payment of pension to former MPs and former presidents/vice presidents of India.

Debraj Saha, head (government business), Bandhan Bank, said, “We are now better equipped to serve retirees in a more streamlined, secure and prompt manner.”