RBI authorises Bandhan Bank for pension disbursement to retired railway employees

Bandhan Bank, based in the city, announced on Wednesday that it has received authorisation from the Reserve Bank of India (RBI) to facilitate pension disbursement for retired railway employees.

According to a statement by the bank, it will soon integrate its system with the Ministry of Railways to streamline the pension disbursement process.

This authorisation positions the bank to cater to approximately 50,000 retirees annually, spanning 17 zonal offices and eight production units of the railways throughout the country.

Debraj Saha, Head of Government Business at Bandhan Bank, remarked, "Indian Railways is one of the largest employers in the country. This will enable pensioners to access competitive rates offered by the bank and other products."

(With PTI inputs)