Ministry of Communications
“Government to leverage the achieve together with trust of Post Offices to offering doorstep banking to the unbanked, through Republic of Republic of India Post Payments Bank”: Manoj Sinha
Posted On: 29 AUG 2018 3:07PM past times PIB Delhi
Minister of State for Communications (Independent Charge), Shri Manoj Sinha today said that the launch of Republic of Republic of India Post Payments Bank (IPPB) volition significantly augment the achieve together with demeanour on of the banking sector inwards the country. Briefing the media hither well-nigh the upcoming nation-wide launch of the IPPB past times the Prime Minister on the 1st September, 2018, Shri Sinha said, the trusted Postman volition straight off larn a banker to millions of unbanked together with under-banked Indians who direct keep then far had no access to fiscal services. This launch volition to a greater extent than than double the publish of banking company branches inwards the province – from the introduce 1.40 lakhs to to a greater extent than than 2.90 lakhs. Similarly, the publish of rural branches inwards the province volition increase from the electrical flow 49,000 to to a greater extent than than 1.75 lakhs.
The vision of IPPB is to construct the most accessible, affordable together with trusted banking company for the mutual man, to spearhead the fiscal inclusion agenda of the Government. It volition leverage the vast network of the Department of Posts, which covers every corner of the province amongst to a greater extent than than 300,000 Postmen together with Grameen Dak Sewaks. This volition enable IPPB to couplet the last-mile gap inwards banking services.
Shri Sinha said, on the solar daytime of the launch, IPPB volition direct keep 650 Branches together with 3250 Access Points spread across the country. The banking company volition offering a attain of products such equally savings together with electrical flow accounts, coin transfer, straight produce goodness transfers, pecker together with utility payments, together with firm together with merchant payments. These products, together with related services, volition live offered across multiple channels (counter services, micro-ATM, mobile banking app, SMS together with IVR), using the bank’s state-of-the-art technology platform. All the 1.55 lakh Post Offices inwards the province volition live linked to the IPPB organization past times Dec 31, 2018.
IPPB has built a rigid integrated model amongst the Department of Posts (DoP), nether which Post Office Savings Bank (POSB) concern human relationship holders volition live able to avail additional services provided past times IPPB, past times linking their accounts. Commenting on this, Shri A.N. Nanda, Secretary, DoP said – “The IPPB concern human relationship volition render DoP customers amongst a consummate bouquet of banking services which they direct keep never experienced before.”
The Minister informed that the launch itself is slated to live a mega event. While the Prime Minister volition live the Chief Guest at the nation-wide launch at the Talkatora Stadium inwards New Delhi, simultaneous launch events volition live held at all 650 branches together with 3250 access points of IPPB across the country. Senior dignitaries of the Central together with State Governments volition grace these events amongst their presence.
“The upcoming launch of the IPPB volition live roughly other pregnant milestone inwards our Government’s crusade to direct keep the benefits of a chop-chop developing Republic of Republic of India to the remotest corners of our country, ensuring that the benefits of the Government’s flagship programs such equally Digital Republic of Republic of India menstruum to the terminal citizen standing inwards the queue of development, together with our dream of fiscal inclusion becomes a reality for all”, concluded Shri Sinha.
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