New Delhi: Bank of Baroda on Thursday said it was designated as a pension disbursing bank in West Bengal under the Employees' Pension Scheme (EPS), 1995.
The EPS is a type of social security scheme launched by the Employees’ Provident Fund Organisation (EPFO).
A Memorandum of Understanding (MoU) was signed between the bank's Kolkata Zone and the EPFO's Kolkata Regional Office in this regard, the lender said in a statement.
With this development, pensioners in West Bengal can now avail of pension disbursement services through Bank of Baroda's extensive network of over 300 branches and 400 ATMs across the state.
"This will facilitate the employees of central PSUs/ undertakings, state PSUs/ undertakings, municipalities and industrial establishments etc in the state of West Bengal," Bank of Baroda's Kolkata Zone head Sanjay K Tiwary said.
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