India Post Payments Bank (IIPB)
Almost half of India’s population is unbanked and most of them do not familiar about banking services. India Post Payments Bank will provide basic banking services to people who at present do not have a bank account and have not any other type of banking services. The IPPB has now been declared as public limited company whose 650 branches will be linked to rural post offices.
| India Post payment bank | Details |
| IIPPB (India Post payment bank) shares owned by government | 100% |
| Amount can be deposited in IIPPB | Up to 1 Lakh |
| IIPPB licensed by RBI from | May-17 |
| The India Post Payments Bank (IPPB) has 100% GOI equity with | The Department of POST |
The India Post Payments Bank (IIPPB) provides different kind of services to its client like option of demand deposits; customer can have as savings and current accounts up to a balance of Rs 1 Lac in the bank and many more other services. This Bank also supply access to third party financial services such as LIC, pension scheme, credit card option, trading, and more
The India Post Payments Bank obtained banking license in March 2017 and from September 2017, its 650 branches linked with different post offices across the nation will start providing their services. At present bank start providing their services through its different 650 branches in different regions.
Bank also provides its services by mean of current technology comprise mobiles, ATMs and simple digital payments.
Bank also reaches to those places of country where no banking services are available yet. Services offered by IPPB will assist them take the first step towards prosperity.
Different features and services provided by The India Post Payments Bank:
Financial Knowledge: It is common statement we usually said that you can make more money with the help of money. If you have a small saving but with proper advice and correct investment make it double for you. The India Post Payments Bank main objective is to make India financial independent by make sure that everybody has equivalent access to financial detail and services, no matter who they are, what they be paid and where they live. And provides its services in the middle of common man
Reform payments: Customer can get cash in their IPPB account from government different scheme like Pensions and scholarships with near zero friction. Customer can pay their telephonic bill, electricity bill, coaching fee, Insurance deposite and many more directly from their IPPB account. It makes sure that wherever they are, customer can make the most of financial prospect accessible to them.
Ease of accessibility: It is very easy to use the services of IPPB. Also one can use these services by mean of mobiles and internet.
Benefits of India Post Payments Bank Program
- With the help of India Post Payments Bank people from ruler can also access banking services.
- Can easily pay the different kinds of bill like telephone, electricity etc
- India Post Bank has received in principle approval from RB and also have their own license
- Increase financial inclusion by offering Small Savings Accounts, Payment services to low income households / labor, small businesses etc.
- The project will be rolled out in the entire country in a phased manner
India Post Payments Bank Recruitment 2016-17
As bank started its services from September 2017 so bank also start recruitment for different post. For the entire post bank need well qualified person with good experience. For this India Post Payments Bank Limited invites online applications from qualified candidates for different post. Also pay scale provided by the bank is good.
Eligibility Criteria for applying at India Post Payments Bank:
Graduate from any University which is documented by the Government of India or approved by a Government Regulatory Body. Also candidate who have experience in different banking services are also eligible for applying.
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