Prime Minister Narendra Modi launches India Post Payments Bank
Prime Minister Narendra Modi today inaugurated India Post Payments Bank - Indian Postal Payment Bank - IPPB at the Talkatora Stadium in New Delhi. Its aim is to make the banking service accessible and easy for the general public so that the goal of financial inclusion can be achieved rapidly. For this, the vast network of postal department present in the country is being used. This network comprises more than three lakh postmen and rural post offices.
Every district of India Post Payments Bank will have at least one branch and it will have special focus on financial services in rural areas.
The IPPB will provide banking and financial services to the people of rural areas through one lakh fifty-five thousand post office branches. At present, it is being started with 650 branches, apart from it, there will be 3,250 access points in post offices and 11,000 post offices, which will provide home-based banking services.
More than 1 lakh can not be deposited in the account under the Post Payments Bank. However, money can be transferred from any post office account to any account. Fund transfer will be available from RTGS, IMPS, NEFT.
In India Post Payments Bank, transactions will be done with QR code and biometric technology. | For this, special training will be given to three lakh postal employees. It will also facilitate investment in insurance and mutual funds in India Post Payments Bank.
Significantly, from the beginning of the India Post Payments Bank, it will help in reaching the bank's facility to the village.
In the benefits of 'IPPB', this will facilitate transfer of funds, transfer of government benefits and payment of bills, along with other services such as investment and insurance. The postmen will make these services available at the door of the people's houses. IPPB will also provide digital transaction facility and also help in providing benefits of various schemes like Prime Minister Crop Insurance Scheme, which provides assistance to the farmers.
3 lakh 'Dak sevaks' will prove to be very important for every house and every farmer as well as every small enterprise in the villages to facilitate financial services. He also mentioned that in recent months several steps have been taken to fulfill the welfare of 'Postal servants' and their pending demand.
IPPB will reach 1.5 lakh post offices spread across the country in the next few months.
