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The government on rolled out payments bank of the Indian postal department, in a bid to take banking to the doorsteps of its citizens.
10 things to know about #IndianPostPaymentBank
10 things to know about #IndianPostPaymentBank
1 The institute will operate like a banking organisation, but with smaller scale operations. Most banking operations like accepting deposits shall be done, but they cannot give loans or issue credit cards.
2 As per guidelines laid out by Reserve Bank of India, it can accept deposits of up to Rs 1 lakh per customer, offer payments and remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking and third-party fund transfers.
