IDFC FIRST Bank Authorised by CPAO for Pension Disbursement

IDFC FIRST Bank has been authorised by the Central Pension Accounting Office (CPAO) to disburse pensions to central government pensioners, including:

• All India Service Officers
• Former Members of Parliament
• Retired Judges of High Courts and the Supreme Court
• Former Presidents and Vice Presidents of India
• Officials of Civil Ministries and Departments (excluding Railways, Posts, Telecom, and Defence)

Integration and Technical Readiness

• The integration between CPAO and IDFC FIRST Bank is complete, enabling seamless pension disbursements directly into pensioners’ IDFC FIRST Bank savings accounts.

Joint Account Facility for Family Pension

• Pensioners have the option to open a savings account jointly with their spouse. In the event of the primary pensioner’s demise, the spouse can continue receiving the family pension in the same account.

Financial Snapshot of IDFC FIRST Bank

• Deposit Base: ₹2,27,316 crore
• Loans and Advances: ₹2,31,074 crore

This authorisation positions IDFC FIRST Bank to enhance its services by facilitating pension disbursements for central government pensioners, reflecting its commitment to expanding public sector banking services.

TET