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National News

Aug 08, 2018
2:14PM

PM Modi to launch 650 branches of India Post Payments Bank (IPPB) on the 21st of this month

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Prime Minister Narendra Modi will launch 650 branches of India Post Payments Bank (IPPB) on the 21st of this month.

This was informed by Minister of State for Communications Manoj Sinha while interacting with the media in New Delhi today.

He said the nationwide launch will significantly augment the reach and impact of the banking sector.

He said the IPPB will leverage the vast network of the Department of Posts with 1.55 lakh access points, three lakh postmen and Grameen Dak Sewaks.

The Minister said the IPPB will offer a range of services, including Savings and Currents Accounts, money transfer, Direct Benefits Transfer (DBT) and merchant payments.

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