Chief Minister Vijay Rupani is set to launch the state operations of India Post Payments Bank (IPPB) on Saturday as part of the all-India launch of the bank in New Delhi by Prime Minister Narendra Modi. Addressing mediapersons on Thursday, chief post master general of Gujarat circle Gautam Bhattacharya said that there will be 650 branches of the bank of over the country, with 32 branches and 128 access points in the state. “The idea is to give a push to digital payment services in rural and semi-urban areas and enhance the ability of rural people to use digital services,” Bhattacharya said.
“Besides having 650 branches, IPPB will have 2,600 access points across India”, he said. Bhattacharya said IPPB, launched with the slogan ‘Aapka bank, aapke dwar’, would provide low-cost banking services with technology-intensive value added features like SMS banking, real time gross settlement, e-KYC and digital accounting specially designed for small and medium ventures, farmers, migrant workers and senior citizens for both savings and current accounts.
With the launch of IPPB, the number of bank branches in the country would double to 2.95 lakh by December 31. Of these, 1,46,000 will be IPPB branches and the rest 1,55,000 will be regular banks, Bhattacharya said.