IDFC FIRST Bank Authorized to Disburse Central Government Pensions

IDFC FIRST Bank has been authorized by the Central Pension Accounting Office to disburse pensions for central government pensioners. This includes retired officials from various posts. The integration between CPAO, Government of India, and IDFC FIRST Bank is complete, allowing pensioners to directly receive payments in their bank accounts.

IDFC FIRST Bank announced on Wednesday its new authorization from the Central Pension Accounting Office (CPAO) to disburse pensions for central government pensioners. This significant move enables the bank to serve former Members of Parliament, judges, and other distinguished retirees.

The integration between CPAO, the Government of India, and IDFC FIRST Bank has been technically completed. This allows for seamless pension disbursements directly into pensioners' IDFC FIRST Bank savings accounts, streamlining the financial process for beneficiaries.

IDFC FIRST Bank's Country Head of Retail Liabilities, Chinmay Dhoble, expressed his delight at the authorization. Pensioners can now set up savings accounts with their spouses to ensure continued pension benefits, reflecting the bank's commitment to customer convenience.

(With inputs from agencies.)