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IDFC FIRST Bank Cleared by CPAO to Pay Central Pensions

4 April 20251 min read
BANKING & FINANCEIDFC FIRST BankCleared by CPAOto Pay CentralPensions4 April 2025safalsetu.com

Why in the news

IDFC FIRST Bank got the go-ahead of the Centre’s pension accounting office to pay central retirees; integration is complete.

Key facts

  • Authority: Central Pension Accounting Office (CPAO).
  • Covered: All India Service officers, former MPs, retired High Court and Supreme Court judges, former Presidents and Vice Presidents, and civil ministries staff.
  • Excluded: Railways, Posts, Telecom, Defence.
  • Pensions are credited into IDFC FIRST savings accounts; a joint account with a spouse lets family pension continue.
  • Bank snapshot: deposits ₹2,27,316 crore; loans ₹2,31,074 crore.

Exam angle

  • Full form: CPAO is Central Pension Accounting Office.

Test yourself

1. Which body authorised IDFC FIRST Bank to disburse central government pensions?

The Central Pension Accounting Office gave the authorisation.

2. Which department's pensioners are excluded from IDFC FIRST Bank's CPAO authorisation?

Railways, Posts, Telecom and Defence are excluded; civil ministries are included.

3. What facility lets a spouse continue receiving family pension in the IDFC FIRST Bank pensioner account?

A joint account with a spouse lets family pension continue after the pensioner's demise.

This topic is part of Daily Current Affairs 4 April 2025 (24 topics).

All topics of the dayDay quizApril 2025

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