India Post Payments Bank (IPPB) inaugurated at Changlang

Publish Date : 04/09/2018

IPPB inauguration

Changlang, September 1, 2018, India Post Changlang branch has launched India Post Payments Bank (IPPB) along with the rest of the country. There are 650 branches of the bank along with 3250 customer access points which will be operational across the country from today onward. Changlang district has been also blessed with the bank and will have more than 20 access points. India Post Changlang Branch has been inaugurated in a befitting manner with live telecast/webcast of launch of India Post Payments Bank (IPPB) and mobile Apps by Hon’ble Prime Minister from the Talkatora stadium, New Delhi, in presence of Major Upmanya Moghe, 14 Assam Rifles and Shri Noki Kungkho, Executive Secretary, Kisan Morcha, Officials and public of Changlang district along with 10 other branches in Arunachal Pradesh.

IPPB is offering, demand deposit such as savings and current accounts up to a balance of Rs 1 lakh, digitally enabled payments and remittance services of all kinds between entities and individuals and also provide access to third party financial services such as insurance, mutual funds, pension, credit products, forex and more, in partnership with insurance companies, mutual fund houses, pension providers, banks, international money transfer organizations, direct benefit transfer, etc.

All banking facilities will be paperless and no physical documents required for opening an account, only Aadhaar, pan, Form 60 and mobile number will be required.

On 15th August, 2016 the Prime Minister announced the setting up of India Post Payments Bank (IPPB) during his 70th Independence Day address to the nation from the Red Fort. The subsequent incorporation of the bank and grant of the final license by the Reserve Bank of India are culminating in the nationwide launch of IPPB by the Prime Minister on 1st September 2018.This would be a significant milestone in the history of financial inclusion in India.