What is india post payment bank ?

Hey pal,

To keep up with the latest tech-savvy generation. I have opened an account in the IPPB. When I first heard the acronym, it sounded like complete jargon to me. I will share with you what is IPPB and the benefits of opening an account with them in the paragraphs below. 

The Department of Post, Ministry of Communication has set up India Post Payments Bank (IPPB) for the citizens. This bank has been set up by the Government of India. The bank was launched in 2017. Initially, it was set up in Ranchi (Jharkhand) and Raipur (Chhattisgarh). Now, the bank is present across India. 

I believe there are 650 IPPB branches in India. Account holders can open savings accounts, and current accounts and conduct money transfers in an instant, simple and secure way. I opened the account from the comfort of my own home via the IPPB Mobile App.

It is a digital savings account that is opened in IPPB. The account is secure and gives people banking access to digital banking. The account will give banking facilities to people, even for their transactions in the post office. A few of the free services I get from my account are phone banking, SMS banking, free quarterly e-statements and SMS alerts.

If I gain more information on ‘what is IPPB’, I will leave another comment here. 

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