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"Once the proposed expansion is completed, IPPB will be providing the largest financial inclusion network in the country, covering both urban as well as rural hinterland with ability to provide digital payment services at the doorstep with the help of Postmen and Gramin Dak Sewaks (GDS)" the Department of Posts said in a statement.

What is Payments Bank ?
A payments bank is a differentiated bank and confines its activities to acceptance of demand deposits, remittance services, Internet banking and other specified services. Unlike traditional banks, payments banks are not allowed to give loans or credit to customers. Payments banks can accept deposits of up to Rs 1 lakh per account from individuals and small businesses.
Important Note : IPPB will be the third payments bank to have full fledged operations after Airtel Payments Bank and Paytm.
MD & CEO of India Post Payments Bank - Suresh Sethi
Important Note : IPPB will be the third payments bank to have full fledged operations after Airtel Payments Bank and Paytm.
MD & CEO of India Post Payments Bank - Suresh Sethi
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