India post payment bank has been started by the Government of India and will be provided to the people of this country by the Post Offices of our country. The purpose of introducing the IPPB Bank is to provide banking services in every corner of our country and to connect those with banking, which have no relationship far from the banks. The government wants to open branches of this bank in every district of our country and the work of opening the branches of this bank in about 650 districts has also been completed.
On August 21, 2018, the Prime Minister will launch this bank and after that all the branches will be opened for the common people
In the year 2017, two branches of this bank were opened, one of which was started in Raipur city and the other in Ranchi city and now the other branches of this bank are also going to start.
The goal of the government is to connect 155,000 post offices of our country with this bank and for the last month of 2018, every post office of our country will be associated with IPPB Bank. With this, the number of branches of existing banks in India’s rural areas will reach 130,000.
WHAT IS INDIA POST PAYMENT BANK?
This bank was established under the Ministry of Communications in the year 17th August, 2016 and the Government of India has full authority over this bank. The IPPB bank will be similar to the common banks and all the services will be provided in this bank, which is given in other banks. Anyone can go to this bank and open their account and deposit money .The interest rate will be 5.5%.
In the coming days IPPB Bank will become the largest bank in our country, with the largest number of branches in our country. The maximum population of our country will be linked to this bank.