IPPB services to start in Khammam very soon

Khammam: To spread postal services elaborately across the nation, the union government had envisioned India Post Payments Bank (IPPB ) services and was launched on a grand scale by hands of the Prime Minister Narendra Modi on September 1.

In a statement released here by the Postal department, Superindent R Pahni Prasad said that the IPPB will be available through 650 branches and 3,250 access points as of now in the country. The government owns 100 per cent in IPPB, which has been set up under the aegis of the Department of Post, and will offer products and services though multiple channels such as counter services, micro ATMs, mobile banking app, messages and interactive voice response.

The biggest thing is that all these facilities will be made available to the citizens of the country wherever by three lakh postmen at their doorstep. That is why the bank has slogan “Aapka Bank Aapke Dwaar” (Your bank at your doorstep), he added.  The Indian government holds 100 per cent equity and will leverage the vast network of the Department of Post (DoP) that has more than three lakh postmen and Grameen Dak Sewaks. IPPB will, hence, significantly augment the reach of the banking sector in the District. “We changed the law, decided to merge the banks and promotion of professional approach in the banking sector,” said by a government official, he informed.

The IPPB will also provide current accounts for small time traders and merchants, especially in the rural areas who survive on such work. It will also use Aadhaar to open accounts, while a QR card and biometrics will drive authentication, transactions, and payments. Grameen Dak Sewaks will be armed with smartphones and biometric devices to handle transactions, he concluded and appealed the people to utilise the services.