Non-public sector lender Bandhan Financial institution on Tuesday mentioned 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 mentioned in a launch.
The authorisation entitles the financial institution to disburse pensions to the central authorities staff in civil ministries/departments (apart 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 Court docket and All India Service Officers.
This scheme additionally covers cost of pensions to former Members of Parliament and the cost of pension and different facilities to former Presidents/Vice Presidents of India, the personal sector lender mentioned.
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