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What Is IPPB (India Post Payment Bank)

From today, poor and backward people living in the rural areas of the country will also be able to avail of banking facilities through postmen. Let’s know what is the India Post Payment Bank ie IPPB and how different services are from other banking services

  • IPPB will deliver banking services to the villages where the normal banks do not have access.
  • The keyword for ‘IPPB’ is ‘your bank, your door’. In which the customer will not need to go to the bank branch. The bank will reach the customer itself through postmen.
  • A separate technical framework is being provided for the cost of Rs.1435 crores for IPPB.
  • Apart from this, there will be many services like Savings Account Current Account, Money Transfer, and Direct Benefit Transfer besides Bill, Utility, and Business Payment will be provided.
  • It will be the easiest, economical and dependable bank in the country. Illiterate can also use this system.
  • The account holder will not need to remember his account or PIN number etc.
  • Maximum One lakh rupees can be deposited in this. More than this, the deposit will be automatically deposited in the post office savings bank account.
  • The customer will get a QR card. While the postman will have a POS machine. To deposit or send money, the QR card has to be put in POS machine and the customer will have to put a finger on the machine
  • In addition, to counter service, it will present a variety of products like Micro ATM, Mobile Banking App, Message and Interactive Voice Response System (IVRS).
  • IPPB is not allowed to directly lend or sell an insurance policy. But through third-party contracts, he will be able to do this.
  • By December 31, all the 1.55 lakh post offices in the country will start working as an access point for IPPB.
  • 30 lakh access points will be in villages and 25,000 in the cities.


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