Railway Pension: This bank will now provide pensions to retired railway workers, which is a significant development

 Railway Pension: This bank will now provide pensions to retired railway workers, which is a significant development

Railway Pension: This bank will now provide pensions to retired railway workers, which is a significant development

Railway Pension: On behalf of the Railway Ministry, RBI has given Bandhan Bank permission to disburse pensions via e-PPO. As a result, all former Railway Ministry personnel would be eligible for pension payments from Bandhan Bank

News about Indian Railways: This information is helpful to you if any member of your family or you yourself 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 railroad workers. In order 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 clearance, the bank will have access to around 50,000 retirees annually from eight railway manufacturing units and 17 regional offices nationwide.

Among the biggest jobs in the nation is the railroad industry.

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 use of the bank's other services and low rates. On behalf of the Railway Ministry, Bandhan Bank is now able to issue pensions via e-PPO thanks to RBI authorization. As a result, all former Railway Ministry personnel would 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 biggest employer in the nation. The bank and the Railway Ministry will shortly begin working together to provide pensions. Let us inform you that Bandhan Bank's net profit climbed by more than three times to Rs 721 crore in the quarter that ended in September. In comparison to the same time previous year, when net profit was Rs 209 crore, there was a massive growth of 245 percent.

In the current quarter, the bank gained almost 10 lakh new clients. This resulted in an increase in bank clients 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.