This information is helpful to you if any member of your family or you are retired from Indian Railways. In actuality, Bandhan Bank has been granted permission by the Reserve Bank of India (RBI) to provide pensions to retired railway workers. To handle pension disbursements, the private bank Bandhan Bank plans to link its system with the Railway Ministry shortly, according to a statement the bank released. With the RBI’s approval, the bank will have access to approximately 50,000 retirees annually from eight railway production units and 17 regional offices nationwide.
One of the biggest employers in the nation
is Indian Railways, according to Debraj Saha, Head of Government Business at Bandhan Bank. Pensioners will benefit from this by being able to take advantage of the bank’s other services and competitive rates. On behalf of the Railway Ministry, Bandhan Bank is now able to distribute pensions via e-PPO thanks to RBI authorization. As a result, all former Railway Ministry personnel will be eligible for pension payments from Bandhan Bank.
Twelve lakh people are employed by the railways.
With over 12 lakh employees, the Indian Railways is the largest employer in the nation. The bank and the Railway Ministry will shortly begin working together to provide pensions. We would like to inform you that Bandhan Bank’s net profit rose for the quarter that concluded in September.
In the current quarter, the bank
added about 10 lakh new customers. This resulted in an increase in bank customers to 3.17 crore. There were almost 6200 locations of the bank as of September 30, 2023. There are 4,598 financial units and 1621 branches within the banking network.
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