My India First

My India First

RBI Authorises Bandhan Financial institution For Disbursing Civil Pension

New Delhi:

Non-public sector lender Bandhan Financial institution on Tuesday stated it has been appointed by Reserve Financial institution of India as an authorised pension disbursement financial institution on behalf of the Central Pension Accounting Workplace (CPAO) for the civil pensioners.

The financial institution will quickly be integrating with the workplace of CPAO, Ministry of Finance, to operationalise the disbursement course of, it stated in a launch.

The authorisation entitles the financial institution to disburse pensions to the central authorities staff in civil ministries/departments (aside from railways, posts, and defence), Nationwide Capital Territory of Delhi, Union Territory Administrations with out legislatures, retired judges of the excessive courts and the Supreme Courtroom and All India Service Officers.

This scheme additionally covers fee of pensions to former Members of Parliament and the fee of pension and different facilities to former Presidents/Vice Presidents of India, the non-public sector lender stated.

(Apart from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)

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