new Delhi: There is good news for the customers of private sector bank Kotak Mahindra Bank. Specifically, senior citizen bank customers. The bank has got approval for release of government pension. The existing customers of the bank will also get the benefit of this. After retirement, they will no longer have to open pension khata (pension account) anywhere else. The Central Pension Accounting Office (CPAO) has approved the bank to do so.

Kotak Mahindra Bank Pension Payment Now Authorized Bank

Anang Rawat, Central Controller of Accounts, CPAO, Kotak Mahindra Bank has been approved for disbursement of pension. This approval has been given in the name of Pension Scheme Book. Kotak Mahindra Bank will now act as an authorized bank in respect of pension payments.

Notify retired employees of new updates

According to Anang Rawat, the Reserve Bank of India (RBI) had authorized private sector banks to issue pensions. He has been given full access to it so that he can handle pension related matters with the help of Central Pension Processing Center (CPPC). Along with this, all the ministries have been directed to inform the retiring employees about this new update so that they can avail the pension related services of Kotak Mahindra Bank if they wish.

Pension court will be held on May 5 through VC

It is noteworthy that the government is also setting up a nationwide Pension Court to solve the problems of pensioners. It will be held on May 5, 2022. Pensioners will be able to express their concerns in this court through video conferencing. They don’t have to go anywhere to complain.