Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
TM
Wed, Jan 16, 2019 | Last Updated 11:19 am IST

Menu &Sections

Search

Will India Post Payments Bank be successful?

Will India Post Payments Bank be successful?
Will India Post Payments Bank be successful?
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

New Delhi sources stated that Prime Minister Narendra Modi launched the payments bank of Indian postal department that will take banking to doorstep of every citizen through an unmatched network of post offices and almost 3 lakh postmen and 'Grameen Dak Sewaks'. Accordingly Indian Post Payment Bank (IPPB) will be like any other banks but its operations will be on a smaller scale without involving any credit risk and moreover it will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.



Meanwhile the freshly minted payments bank will accept deposits of up to Rs. 1 lakh, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third party fund transfers. Moreover Communications Minister Manoj Sinha said IPPB will be available through 650 branches and 3,250 access points. He said “Deposits in any account that exceed Rs. 1 lakh will be automatically converted into post office savings account”.

Will India Post Payments Bank be successful?

Furthermore the government owns 100% in IPPB, which has been set up under the aegis of the Department of Posts, and will offer products and services through multiple channels such as counter services, micro ATMs, mobile banking app, messages and interactive voice response.

Will India Post Payments Bank be successful?

Will India Post Payments Bank be successful?
5/ 5 - (1 votes)
Add To Favourite
More from author
Kodanadu estate case investigation in peaks!
UP minister's tells people to burn politicians!
Supreme Court notice to central govt!
A Judge partially blocked a set of Trump administration rules
Follow Indian Traditions Leave Western Lifestyles: Venkaiah Naidu
Unresolved differences between Kanchi Seer and Mahatma Gandhi continues
Cockpit Voice recorder of Lion Air Jet found
Modi said BJP worker is driven by National Interest & not by any self-interest
KCR plans that will last generations
RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India
TNSTC announced it will operate an additional 14,263 services for Pongal
Modi calls DMK as the biggest enemy!
Terrorists killed in early morning encounter!
Dinakaran Vs Anbazhagan catches fire!
Tehelka editor reveals shocker!
Ivanka Trump, Nikki Haley for US candidates to World Bank President's Post
Why TDP & Congress not going together in the elections?
International Youth Leadership Conference to be inaugurated by Anna Hazare
CM Yogi Adithyanath confident about BJPs performance in 2019
Edappadi denied allegations against him in Kodanad break in case
Powerful Explosion in Paris killed 3
Which players will replace Hardik & Rahul?
KCR to waive Toll Tax for commuters on NH Roads for Sankranti
KCR in mood to finish TDP in Telangana
US stocks closed lower as United States Government shutdown
Will Akhila Priya quit TDP?
Arun Jaitley announces increasing GST exemption limit for Garment Exporters
Donald Trump declared national emergency over immigration at southern border
Dhoni does it for special fan!
Vatal Nagaraj plans violently for dam!
Godman turns murder convict!
Alok Verma frustrated by sacking!
Cristiano Ronaldo's DNA needed in Rape case
TDP plans to double Pension in AP
This Chinese Woman hears only Female voice, but not Male voice
This untouchability war by IAS Woman Officer will touch your hearts
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.