PM launches India Post Payments Bank; postman to deliver doorstep banking services
Prime Minister Narendra Modi Saturday launched India Post Payments Bank (IPPB) that aims to take banking to the doorstep of every citizen by arming three lakh postmen and ‘Grameen Dak Sewaks’ with digital aids to deliver financial services.IPPB — which will be available through 650 branches and 3,250 access points immediately, scaled to all 1.55 lakh post offices by December 2018 — is like any other bank but with smaller scale of operations and without involving any credit risk. The freshly-minted payments bank will accept deposits of up to Rs 1…
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