Punjab

SOCIAL SECURITY BENEFITS TO BE DISBURSED THROUGH BUSINESS CORRESPONDENTS OF BANKS AND THROUGH INDIA POST PAYMENTS BANK

April 04, 2020 10:42 AM

Mohali (Face2News)

The District Administration has decided to disburse all the social security benefits with the inclusion of old age pensions through the business correspondents of the banks as well as through India Post Payments Bank (IPPB).
In an order issued here on friday,  the Deputy Commissioner Girish Dayalan said that the Banks are required to coordinate with the Business Correspondents to ensure that the beneficiaries especially the people in villages receive the benefits in a hassle free manner.

As such, the social security pensions and other benefits are credited directly in the bank account of beneficiaries. Under the current curfew / lockdown, they may not be able to reach the banks/ATMs. But, the banks would require to disburse other social security benefits of Government of India and that from the State Government. Therefore, it has been directed that the social security benefits including the old-age, widow, dependants, disabled persons pensions etc be disbursed through business correspondents of the banks.

The banks have been told to augment the number of business correspondents immediately, if required.

Similarly, the Department of Posts will provide the facility of disbursement of social security benefits through India Post Payments Bank (IPPB).

With the Aadhaar Enabled Payment Service (AEPS) provided by IPPB, post offices which are equipped with Micro ATM devices will be able to provide withdrawal of money to beneficiary irrespective of any bank account they have, at their doorstep. Any bank account holder can withdraw amount up to Rs. 10,000/- at a time at his doorsteps through 4639 post offices across Punjab.

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