India Post Payments Bank (IPPB): Banking and financial service for rural area
- IPPB for 648 branches by Prime Minister Narendra Modi
- RTGS, NEFT & IMPS to transfer and receive money from any bank account
- IPPB, with 1.55 lakh branches can reach rural area and can link 17 crore postal savings bank (PSB) account
- Currently, Government uses IPPB to distribute MGNREGA wages, subsidies, pension.
- Pay for phone recharges and bill, electricity bill, DTH service, college fees, etc
- Finally, IPPB is the third entity to receive payments bank permit after Bharti Airtel and Paytm