Bandhan Bank to disburse pension to 15L Indian railways retirees

Hyderabad: Bandhan Bank on Thursday announced that it has received authorisation from Reserve Bank of India (RBI) for disbursement of pension through e-PPOs on behalf of Indian Railways. The Bank will soon be integrating with the Ministry of Railways to operationalise the pension disbursement process.

Indian Railways in the largest employer in the country with employee strength of nearly 12 lakh. This authorisation will enable Bandhan Bank to disburse pension to nearly 15 lakh Indian Railways pensioners who have retired from the service. This mandate will lead the Bank to serve around 50,000 retirees every year across all offices including 17 Zonal railways and eight production units. Debraj Saha, Head – Government Business, Bandhan Bank, said: “Indian Railways is one of the largest employers in the country. Authorisation to disburse pension to retired employees of railways provides an opportunity to serve them with the best products and services of the bank.”