- The India Post Payments Bank (IPPB) is a public sector company under the department of posts and ministry of communication with a 100 per cent equity of the government and governed by the Reserve Bank of India.
- The India Post Payments Bank (IPPB) will focus on providing banking and financial services to rural areas by linking all the 1.55 lakh post offices across the country to India Post Payments Bank by December 31.
- In India Post Payments Bank (IPPB), regular savings account can be opened with zero balance.
- Interest can be earned on the money kept in this account and the cash withdrawals allowed in this account are unlimited.
- People can use India Post Payments Bank's products and services via multiple channels such as counter services, ATMs, mobile banking app, SMS and IVR (interactive voice response).
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