Authorisation of Kotak Mahindra Bank for disbursement of Pensions
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
O/O CONTROLLER GENERAL OF ACCOUNTS
CENTRAL PENSION ACCOUNTING OFFICE
TRIKOOT — II, BHIKAJI CAMA PLACE
NEW DELHI – 110066
No. CPAO/ IT & Tech/ Bank Performance/ Kotak Mahindra Bank/ 37 Vol (B)2021-22/ 6476/212
Subject: Authorisation of Kotak Mahindra Bank for disbursement of Pensions
It is informed that the Central Pension Accounting Office (CPAO) vide its letter dated 23.02.2022 has conveyed its approval to Kotak Mahindra Bank to start its functions for disbursement of pensions as per the guidelines mentioned in the Scheme Booklet.
2. The approval has been issued based on the approval granted to Kotak Mahindra Bank to function as an Authorized Bank for payment of pensions. The bank has also received the necessary privileges from the Reserve Bank of India to start the reporting of transactions made by its Central Pension Processing Centre (CPPC) for daily settlement of pension cases.
Also Read: Master Circular – Disbursement of Government Pension by Agency Banks RBI Circular
3. All Ministries are requested to provide necessary publicity so that retiring employees may, if they so desire, make use of the facilities of Kotak Mahindra Bank for opening their pension accounts.
4. This issues with the approval of the Chief Controller (Pensions).
(Dy. Controller of Accounts)
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