Are you looking for the information related to the India Post Payments Bank? Then, you have landed on the most correct page. So, what are you waiting for? Let’s get started.
The India Post Payments Bank is also termed as the IIPB. Some of you may be thinking what is this IIPB? On 1st September 2018, the Prime Minister Narendra Modi launched the IIPB at the Talkatora Stadium, New Delhi. The IIPB has been launched the to provide banking as well as several financial facilities to the rural area of the India.
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The aim of the government is to link all the 1.55 lakh post office branches to the IIPB. The government of the India has made the following statement on the launch of the IIPB: “On the day of the launch, IPPB will have 650 branches and 3,250 access points spread across the country”.
Following are the things that you must know about the IIPB:
- This IIPB will give you a 4% interest rate on the saving bank accounts of their customers.
- Initially, this bank only takes up to Rs. 1 lakh from the business people or individual users.
- Following are some of the services provided by the IIPB: money transfer, payment of various bills, direct bank transfer, current account, saving accounts, etc.
- You may be amazed to know that this IIPB is allowed to join all the 17 crores PSB accounts with their accounts. Here, the PSB means that the Postal State bank accounts.
- Who is the owner of the IIPB? The IIPB will be governed by the Government of India. It will be run under the Ministry of Communications of India. Its service will eb very quick and responsive.
In this article, we talked about the India Post Payments Bank which is launched by the government of the India. Hope you like this article.