Modi To Launch India Post Service Payments Banking Concern (Ippb) On 21St August

Prime Minister Narendra Modi is going to launch the long-awaited India Post Payments Bank (IPPB) on 21st August 2018. IPPB is going to constitute 650 branches, atleast 1 branch inwards every district amongst the focus on fiscal services inwards rural areas.
Lat week, the banking concern CEO Suresh Sethi has announced that IPPB is going to showtime operations amongst around 650 branches inwards add-on to 3,250 access points co-located at post service offices in addition to around 11,000 postmen both inwards rural in addition to urban expanse volition render doorstep banking services. IPPB has permission to link around 17 crore Postal Savings Bank (PSB) trouble organisation human relationship with its account.
The regime is going to link all the 1.55 lakh post service utilisation branches amongst IPPB services past times the destination of the yr 2018, making IPPB equally the largest banking network amongst straight presence at hamlet leve.
With this, people inwards rural areas volition instantly move able to avail digital banking in addition to fiscal services, including coin transfer, to whatever banking concern trouble organisation human relationship either amongst attention of mobile app or past times visiting a post service office.
Note : IPPB was the 3rd entity to have payments banking concern permit later on Airtel and Paytm. It was incorporated on August 17, 2016 under Companies Act, 2013 as a world express companionship amongst 100 per cent Government of Bharat equity under Department of Posts. The IPPB app which is expected to move launched on same solar daytime volition enable customers to pay for services of around 100 firms including band recharges in addition to bill, electricity bill, DTH service, college fees etc that are acquaint on Bharat Bill payments organisation of National Payments Corporation of India.
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