Government to launch India Post Payments banks at 650 places

Minister of Communications Manoj Sinha today said that  India Post Payment Banks-IPPB will be launched at 650 places.The Minister said that Savings accounts, current accounts, money transfer, enterprise and merchant payments will be highlights of India Post Payment Banks.

Mr.Sinha also said that by December this year IPPBs  will provide doorstep banking at rural areas and With help of National Payment Corporation of India and RBI , IPPB will give last mile connectivity to banking. The Minister also added that presently there are 17 lakh postal saving accounts and efforts are on to give these saving accounts holders to avail benefits of IPPB.

Speaking to reporters after cabinet meet, Mr Sinha said that the launch will be a mega event on 01st September in which  Prime minister will be the chief guest at the nation wide launch at the Talkatora stadium in New Delhi.

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