The Punjab government, under the leadership of Chief Minister Bhagwant Singh Mann, has introduced UPI services in the Punjab State Cooperative Bank, marking a significant advancement in banking services within the cooperative sector. This move aims to facilitate online transactions for customers.
Chief Minister Mann emphasized that this initiative is part of the government’s efforts to promote digital transactions in cooperative banks. The UPI service has been rolled out in 18 branches of the Apex bank, with the goal of enhancing transparency and accountability in banking operations.
With this new feature, customers of the Punjab State Cooperative Bank can now conduct transactions using popular mobile platforms such as Google Pay, WhatsApp, PhonePe, PayTM, BHIM, and others. They can easily send and receive money between their accounts and other bank accounts.
Initially, customers will be able to make UPI transactions up to Rs. 50,000 per day, with plans to increase the limit to Rs. 1,00,000 in the near future. Chief Minister Mann reiterated the government’s commitment to strengthening the cooperative sector, ensuring continued progress in this area.
