Equitas Small Finance Bank empanelled as Maharashtra’s banking partner
December 21, 2021
Equitas Small Finance Bank on Monday said it has been empanelled as a banking partner of the Government of Maharashtra to offer its services to the state government employees.
According to an understanding, Equitas Small Finance Bank is entitled to distribute salaries and allowance to the current employees just as make provision of pension to pensioners, in this way providing solutions for organizations and value-added services for people, the bank said in a release.
Bandhan Bank, Karur Vysya Bank, South Indian Bank are the other three banks that are assigned the role of distributing salaries, allowances to government representatives, it said.
The agreement is for the liability base. The public authority has allowed position to Equitas Small Finance Bank to open salary and pension accounts for the current and retired employees across 58 of its branches in Maharashtra, the lender said. The bank is subject to withdrawal and disbursement of funds.
Murali Vaidyanathan, Senior President and Country Head Branch Banking Liabilities, Products and Wealth, Equitas Small Finance Bank Limited, said: “We at Equitas Small Finance Bank bring had confidence in simplifying our services to offer clients with a seamless banking experience.