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India Post Payments Bank to Boost Rural Economy, Says Ravi Shankar Prasad
September 19, 2018
The operations of the newly-established India Post Payments Bank (IPPB) will make rural India stronger and push the financial inclusion agenda, Union Minister Ravi Shankar Prasad said. He said that the bank is leveraging the network of an existing 1.55 lakh post offices and has launched 3,250 access points and 650 branches across the country.
IPPB is 100% owned by the postal department and has 1.3 lakh access points which are roughly 2.5 times other bank branches have in rural areas.
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