India Post Payments Bank

Hon'ble Prime Minister Shri Narendra Modi introduced a new [banking] system through the Indian Postal Service (Bank of India) for the spread of banking till the village-village, which is the form of 'India Post Payment Bank' (India Post Payments Bank) Is known in. Indian Postal Payment Bank (India Post Payments Bank) was started by the Hon'ble Prime Minister of the country on September 1, 2018. Through the India Post Payments Bank (IPPB), the Government of India will provide banking facilities in the corner of the country, along with help to improve the economy of the people living in farmers and villages.nnAbout 1.55 lakh post offices across the country will be converted into payment banks by December 31, 2018. After this, you can open your savings account.nIndian Postal Payment Bank will facilitate savings and current accounting opening like other banks, along with facilitating other banking facilities such as internet banking, ATM cards, online transactions etc. All these facilities will be provided with the help of other government banks such as State Bank of India, Bank of India etc. Indian Postal Payment Bank will act as the agent of these banks for other banking facilities and will give its facility to its consumer.nIn the first phase, it started with 650 branches and 3,250 access points. There are currently 1.55 lakh post offices in India. Indian Postal Payment Bank will be operated from all these branches shortly after the Government of India arrives. With this, Indian postal payment bank with such branches will become the largest bank in India.