Railway Pension: RBI has authorized Bandhan Bank to distribute pension through e-PPO on behalf of the Railway Ministry. This will allow Bandhan Bank to give pension to all the former employees of the Railway Ministry.
Indian Railways News: If you yourself are retired from Indian Railways or any of your family members is retired from Railways, then this news is useful for you. Actually, the Reserve Bank of India (RBI) has authorized Bandhan Bank to give pension to retired railway employees. According to the statement issued by the private sector Bandhan Bank, the bank will soon integrate its system with the Railway Ministry to conduct the pension disbursement process. With this approval of RBI, the bank will get access to about 50,000 retired people every year from 17 regional offices and eight production units of Railways across the country.
Railways is one of the largest employers in the country
Debraj Saha, Head of Government Business at Bandhan Bank, said, Indian Railways is one of the largest employers in the country. This will help pensioners to avail competitive rates and other facilities offered by the bank. RBI has authorized Bandhan Bank to distribute pension through e-PPO on behalf of the Railway Ministry. This will allow Bandhan Bank to give pension to all the former employees of the Railway Ministry.
Railways provides employment to 12 lakh people
Railways is the largest employer in the country, which provides employment to about 12 lakh people. The bank will soon start the process of giving pension in collaboration with the Railway Ministry. Let us tell you that in the quarter ended September, the net profit of Bandhan Bank increased more than three times to Rs 721 crore. There was a huge increase of 245 percent in net profit as compared to Rs 209 crore in the same period last year.
About 10 lakh customers have been added by the bank in the current quarter. With this the number of bank customers increased to 3.17 crore. As on September 30, 2023, the bank had more than 6200 outlets. The banking network includes 1621 branches and 4,598 banking units.
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