Bandhan Bank ties up with Govt. of India to set up Sparsh service centres for Defence pensioners

Bandhan Bank ties up with Govt. of India to set up Sparsh service centres for Defence pensioners

Daily Current Affairs   /   Bandhan Bank ties up with Govt. of India to set up Sparsh service centres for Defence pensioners

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Category : Business and economics Published on: December 22 2022

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  • Bandhan Bank has signed the Memorandum of Understanding (MoU) with Controller General of Defence Accounts, Ministry of Defence, Govt. of India for extending the banking services to the Defence Pensioners and their families.
  • The Bank will provide the services to the Defence Pensioners and their families through 557 branches.
  • The Bank is aligned with the vision of the government in being a one stop solution to all pension related activities of Defence pensioners under the Outreach Programme for Defence Pensioners on System for Pension Administration Raksha (SPARSH).
  • Bandhan Bank started in 2001 as a not-for-profit enterprise that stood for financial inclusion and women empowerment through sustainable livelihood creation.
  • When Bandhan Bank started operations on August 23, 2015, it was the first instance of a microfinance entity transforming into a universal bank in India.
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