Prime Minister Narendra Modi today launched the India Post Payments Bank for the nation from New Delhi today. Chief Minister Jai Ram Thakur presided over the State level function held at Gaiety Theatre here today to launch India Post Payments Bank for the State.
As many as 650 districts of the country would be covered in the first phase under this project.
Speaking on the occasion, the Chief Minister said the India Post Payments Bank (IPPB) would prove a milestone in the banking sector of the country. This would not only provide banking facilities to the people, particularly living in rural areas but also ensure economic upliftment of the weaker section of the society. The IPPB would also create healthy competition in the banking sector which would prove beneficial for the general public, the CM believes.
The Chief Minister said the beneficiaries would be able to access DBT payments like MNREGA wages, pensions and scholarships. The beneficiaries would be able to pay utility bills, send or receive remittances instantly and economically from the same India Post Payments Bank (IPPB) account which would allow them to access loans and insurance from leading banks and assurance companies. He said that millions of Indians still did not have access to banking facilities, thus the IPPB would help in taking the basic banking to the unbanked and under banked areas of the country.
He said that the services offered by IPPB would help the people still having no bank account to take the first step towards saving and prosperity. He said that that with over 1.54 lakh post offices across the country, India Post Payments Bank would have the deepest reach of any financial provider. He said that coupled with an array of digital channels, this personal connect would make IPPB the world’s most accessible bank.
Jai Ram Thakur said that the IPPB would also open new opportunities and new ways of working in the present age of technological revolution. He said that in Himachal Pradesh as many as 12 branches of IPPB would be opened in first phase spread over twelve districts. All the nine Postal Divisions covering all the 2790 Post Offices of the State would be covered under the scheme in a phased manner. This would go a long way in providing effective banking services to the people of the State.
Jai Ram Thakur said that the State Government would provide all possible assistance to the Postal Department for success of this ambitious programme.
The Chief Minister released the special cover of IPPB on the occasion.
Postman Naresh Sharma also opened the IPPB account of the Chief Minister on the occasion. A replica and QR card was also presented to the Chief Minister.
Chairman, HP State Cooperative Bank Khushi Ram Balnatha said that the IPPB would prove a milestone in banking sector as the postal services have reach even up to the remotest part of the State. He said that now the people would have access to banking services at their doorsteps.
