Punjab govt launches UPI service in cooperative bank to enhance digital transactions

Chandigarh: Achieving a new milestone in banking service in cooperative sector, the Punjab government led by Chief Minister Bhagwant Singh Mann has introduced UPI service in the Punjab State Cooperative bank to enable the customers to make online transactions.

Speaking about the initiative, the Chief Minister said that in order to encourage digital transactions in the cooperative banks, the state government has introduced the facility of UPI in 18 branches of the Apex bank. He said that the motive is to further streamline the functioning of bank through renewed transparency and accountability. Bhagwant Singh Mann said that now the customers of the bank will be able to make transactions using various mobile app platforms like Google Pay, Whatsapp, Phone Pay, PayTM, BHIM and others.

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The Chief Minister said that this facility will enable the customers of the bank to send and receive money from/in their accounts with the Punjab State Cooperative Bank ltd to other bank accounts. He said that Initially customers will be able to do the UPI transaction upto Rs.50000 on daily basis which will be enhanced to Rs.100000 in coming days. Bhagwant Singh Mann said that the State Government is committed for strengthening the cooperative sector in the state for which no stone shall be left unturned.

Meanwhile, Chairman of the bank, Jagdev Singh Bam said that this will be a big boon for the customers of the bank. He said that this facility will be introduced in other branches of bank in coming times. He further said that Bank is already providing Mobile banking services using which customers can do transactions through IMPS and RTGS.

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