India Post Payments Bank(IPPB) live on 21 Aug 2018

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India Post Payments Bank

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