PM will dedicate the India Post Payments Bank to the nation on 1st September

simultaneous launch in 650 branches and 3250 access points.

From 1st September people of rural and semi urban areas can use digital banking services at their finger tips. The Prime Minister will dedicate the India Post Payments Bank to the nation accompanied by simultaneous launch in 650 branches and 3250 access points.

Department of Posts, Ministry of Communications under Govt. of India is setting up India Post Payments Bank (IPPB) to involve every citizen to use digital services. The IPPB will provide the digital solution to the people specially from rural areas facing problems for their banking needs.

“India Post Payments Bank will operate through 650 branches and will have around 1.55 lakh access points in various Post Offices. In Gujarat it will operate through 32 branches and about 8900 access points in Post Offices. More than 7,000 Gramin Dak Sevaks (GDS) and 4,000 Postmen will also provide these services at the doorsteps of citizens in rural and urban areas. In Vadodara Region there are 13 branches and 3679 access points with more than 5613 Gramin Dak Sevaks (GDS) and 1280 Postmen,” said B.L. Sonal.

India Post Payments Bank will provide low cost banking services with technology features like SMS Banking, RTGS, IMPS, eKYC, Digital Accounts and others. These services have been especially designed for small and medium industries, students, farmers, migrant workers, senior I citizens and households.

IPPB will offer both Savings Account and Current Account for the benefit of individuals and small traders respectively. IPPB will also promote financial literacy and awareness about digital payments, especially in rural areas through a continuous engagement
model.

In Vadodara Region, the mega launch of IPPB will commence with the Regional level event at Vadodara where MP Ranjan Bhatt will dedicate IPPB services to Citizens.

The Regional level event will be followed by simultaneous launches at 13 bank branches and 65 access points in various parts of the Region. At these events, citizens will be sensitized about benefits of IPPB services and postal staff will facilitate the account opening of interested citizens.