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Ippb Description:
IPPB meaning or full form is India Post Payment Bank.
India Post Payment Bank is fully a Government of India bank.
It is operated by the Department of Post which comes under the Ministry of Communication.
The purpose of creating an Indian Post Payment Bank is to make banking services accessible to all people.
As you know, there are more than 155000 post offices working in India, and when modern banking facilities are available in all these post offices, then common people will be able to connect with it easily and take advantage of banking services.
On 1st September 2018, 650 India Post Payment Bank branch opened in the first phase.
This bank has been planned in such a way that it will provide all the banking services to the people, but will not provide the loan facility by itself.
Post payment through the bank, if anyone wants a loan, it will be completed by the third party. In this way, there will be no credit risk on the bank.
Opening this bank is very beneficial for both government and common people The government does not need to set up any new infrastructure to open this bank, and it can operate from the old post office only. Very few new employees are required to hire, and old employees are trained and they are being used for banking.
On 19 August 2015, the Indian Post Payment Bank was granted a banking license by the Reserve Bank.
The India Post Payment Bank started on 30 January 2017 in Ranchi and Raipur, and today its branches are expanding every day.
Almost all modern banking facilities are being provided at the branches of India Post Payment Bank, it is being tried to bring the latest banking technology to the common people, such as mobile banking, net banking etc.
some famous services available at IPPb are-
Any Indian citizen with a ₹ 100000 limit can easily open their savings or current account with the India Post Payment Bank as per their convenience.
IPPB has three types of savings account, regular saving account, digital saving account and
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