UPI service introduced for cooperative banks in Punjab

Chandigarh: The Punjab government has introduced UPI service in the Punjab State Cooperative Bank to enable the customers to make seamless online transactions.

Speaking about the initiative, Chief Minister Bhagwant Mann 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 the motive is to streamline the functioning of the bank through renewed transparency and accountability. The CM said that this facility will enable the customers of the bank to send and receive money from or in their accounts with the cooperative bank to other bank accounts.

He said that initially customers will be able to do transactions up to Rs 50,000 on daily basis which will be enhanced to Rs 1 lakh in the coming days. Mann is committed to strengthening the cooperative sector.