India Post Payments Bank (IPPB) launched by PM Narendra Modi, 650 Branches and 3250 Access Points across India will now benefit rural people.
A Payments Bank is a different bank providing a limited range of products. It can accept deposits up to 1 Lakh per Customer. A customer can deposit and withdraw money from this types of bank. These banks cannot issue loans or credit cards.
 |
| Source: Wikipedia |
A Payments Bank is a different bank providing a limited range of products. It can accept deposits up to 1 Lakh per Customer. A customer can deposit and withdraw money from this types of bank. These banks cannot issue loans or credit cards.
3000 Postmen were deployed as Bankers to help people in Rural areas to open a bank account, they will carry biometric machine with them to provide doorstep facility.
By December, all 155000 Post Offices will be linked to the IPPB system.
This scheme has 100% Government equity and is governed by Reserve Bank Of India (RBI).
IPPB gives several facilities to its customers:-
- Savings (Regular, Digital, Basic) & Current Accounts
- Money Transfer
- Direct Benefit Transfer
- Bill & Utility Payments
- Enterprise & Merchant Payments
Comments
Post a Comment