PM Modi to launch Post Payments Bank on Aug 21

The launch date of India Post Payments Bank (IPBB) has been announced. Prime Minister Narendra Modi will launch it on August 21. A senior official of the Ministry of Information has given this information.

After launching the IPBB, its 650 branches will start work. There will be at least one branch in every district of the country. Through these branches, IPBB banking services will be provided in rural and remote areas. In addition to the branches of the Bank, 1.55 lakh post offices located in the country will also provide banking services. The official said that the government will try to add 1.55 lakh post office branches to the IPPB by the end of this year. As soon as this work, it will be able to work as the country’s largest banking network.

Facilities in India Post Payments Bank

In India Post Payments Bank, you will get the same facilities as other banks. There are many other services, including fund transfers and savings account opening. IPBB will not only facilitate digital banking, but will also focus on rural banking.
Three types of savings accounts can be opened in the Post Office Payments bank. There is no condition to maintain any minimum balance in these three types of accounts. Apart from this, the facility of Door Step Banking will also be available with these accounts.


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