Cabinet approves Revised Cost Estimate for setting upwards of Republic of Republic of India Post Payments Bank
Boost to Banking Services at Post Offices across the country
Posted On: 29 AUG 2018 1:02PM past times PIB Delhi
The Union Cabinet chaired past times Prime Minister Shri Narendra Modi has given its approving for revision of the projection outlay for setting upwards of Republic of Republic of India Post Payments Bank (IPPB) from Rs. 800 crore to Rs. 1,435 crore. The additional amount of Rs. 635 crore inwards the revised damage estimates is on occupation concern human relationship of Rs 400 crore for Technology Costs as well as Rs 235 crore for Human Resource Costs.
Details:
- IPPB services shall live available at 650 IPPB branches as well as 3250 Access Points from 1st September 2018 as well as inwards all 1.55 lakh ship offices (Access Points) past times Dec 2018.
- The projection volition generate novel occupation chance for most 3500 skilled banking professionals as well as other entities engaged inwards propagating fiscal literacy across the country.
- The objective of the projection is to cook the most accessible, affordable as well as trusted banking concern for the mutual man; spearhead the fiscal inclusion agenda past times removing the barriers for the unbanked as well as trim the chance damage for the nether banked public through assisted doorstep banking.
- The projection volition supplement Government's vision of "less cash" economic scheme as well as at the same fourth dimension promote both economical increment as well as fiscal inclusion.
- The robust information technology architecture of IPPB has been built taking into consideration banking concern aeroplane performance, fraud as well as run a endangerment mitigation standards as well as inwards draw amongst the best practices from payments & banking domain.
IPPB services:
The IPPB volition render bouquet of payments/financial services through its applied scientific discipline enabled solutions which volition live distributed past times the Department of Posts (DoP) employees/last mile agents transforming them from postal service deliverer to harbinger of fiscal services.
The IPPB shall pay incentive/commission to the terminal mile agents ( Postal Staff as well as Gramin Dak Sewaks) straight inwards their accounts for providing IPPB services as well as thus equally to motivate them to promote IPP8 digital services to the customers.
A component subdivision of committee to live paid past times IPPB to Department of Posts volition live used for increasing the wherewithal of Post office
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