India Post Payment Bank achieves 3.6 crore customers

The India Post Payment Bank, even amid COVID-19 pandemic, has attained 3.6 crores of customers. Till September 15, 2020, the bank had completed 38,500 crores of financial transactions. Highlights In August 2019, it had crossed the milestone of one crore ..

Month: Current Affairs - October, 2020

India Post launches Five Star Villages Scheme

Five Star Village Scheme has been launched by The Department of Posts. The scheme ensures the universal coverage (100 % coverage) of flagship postal schemes in rural areas of India. Key facts Scheme will be first implemented in Maharashtra. 50 ..

Month: Current Affairs - September, 2020

India Post Payment Bank

The India Post Payment Bank has recorded an all-time high of 1,09,000 transactions, worth nearly 23 crore INR in light of the lockdown. About IPPB The India Post Payment Bank is a public sector bank that was founded in 2018. ..

IPPB crosses a milestone of two crore customers

India Post Payments Bank (IPPB) has recently achieved the milestone of two crore customers. IPPB was launched by the Indian Prime Minister on September 1, 2018, with the main objective of financial inclusion. In September 2019, the payments bank launched the Aadhaar-enabled ..

IPPB rolls out Aadhaar-enabled payment services

The India Post Payments Bank (IPPB) has rolled out of Aadhaar Enabled Payment System Services (AePS). The announcement of roll out was made by Union Minister for Communications, Electronics and IT Ravi Shankar Prasad at the first anniversary celebrations of ..

Month: Current Affairs - September, 2019

India Post Payments Bank to be converted into Small Finance Bank

Indian Posts has made a decision to convert India Post Payments Bank into Small Finance Bank. This will enable the Bank to offer small loans to customers. Payment Banks Payments banks were introduced by the Reserve Bank of India (RBI) ..