India Post Payments Bank Launched In Bhubaneswar

Bhubaneswar: Union Petroleum Minister Dharmendra Pradhan on Saturday launched the India Post Payments Bank (IPPB) at the Chief Post Master General’s office here.

“IPPB is a step forward in bringing banking to the doorstep of the people. It will reinvent the postal services by leveraging the unparalleled network of India Post and unleash the power of digital revolution,” the Union Minister said.

Highlighting that IPPB will offer a range of services including savings and current accounts, remittances, money transfer, direct benefit transfers, utility payments, enterprise and merchant payments, Pradhan said, “The initiative is a giant leap towards empowering rural India. It will bring new economics and new job opportunities in our villages and also revolutionise the Indian Postal services. Today, more than 4, 200 gram panchayats in Odisha are unbanked. The IPPB will bring a paradigm shift in extending banking services to the people of the state.”

He further added that more than 8,300 postmen and other delivery staff will bring doorstep banking with smartphones to the people of Odisha across more than
8,200 post offices covering all the districts.