The Punjab government led by Punjab Chief Minister Bhagwant Singh Mann has launched UPI service in Punjab State Cooperative Banks to enable customers to transact money online. This will increase transactions in state cooperative banks and also bring transparency.
Launched in 18 banks of the state
CM Mann said that this facility will promote digital transactions of money in state cooperative banks. The state government has launched UPI in 18 branches of the bank. Its aim is to streamline the operations of the bank through greater transparency and accountability. Now bank customers will be able to transact money using platforms like Google Pay, WhatsApp, Phone Pay, PayTM, BHIM and other applications.
Limit will be increased to Rs 1 lakh
The Chief Minister said that with this facility, bank customers will be able to send or receive money from other bank accounts to Punjab State Cooperative Bank account. Customers can transact up to 50 thousand daily through UPI. Which will be increased to one lakh rupees in the coming days. The state government is committed to strengthening the cooperative sector in Punjab, for which no stone will be left unturned.
A boon for customers
During this time, the bank's chairman Jagdev Singh Bam said that this facility is a big boon for the bank's customers. In the coming time, this facility will be started in other branches of the bank as well. Mobile banking services are already being provided by the bank, using which customers can transact money through IMPS and RTGS.