The project, by the Railways and India Post, has commenced on a pilot project basis.
Graphic | Post office banks make a clink even in pandemic times
India Post Payments Bank (IPPB) was launched on September 1, 2018 with 650 branches and a deposit book of over Rs 2,500 crore.
Till date, the IPPB has enabled 1.36 lakh post offices to provide banking services and has equipped nearly 1.89 lakh postmen and gramin dak sevaks with smartphone and biometric devices to provide doorstep services.
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Some of the prominent services offered by India Post Payments Bank (IPPB) are paperless and instant account opening, savings accounts for citizens including Aadhaar Seeding for DBT (Direct Benefit Transfer) beneficiaries, current Accounts for merchants, virtual debit card among others.
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