IPPB gets good response in initial days
Tribune News Service
Bathinda, September 5
India Post Payments Bank (IPPB) garnered good response in the district with more than 400 accounts opened in the first five days since its launch on September 1.
Among other services being offered under the postal banking services initiative, doorstep banking service and zero account balance (saving account) has managed to draw maximum number of customers.
Apart from regular customers, elderly and differently abled would be benefitted from the doorstep service, said a senior postal official at the General Post Office, Bathinda.
The doorstep banking services would be provided by the postman who would charge a nominal amount for it.
The official said the IPPB was a fully digitalised banking platform and no paperwork was required while depositing/withdrawing money or availing of any other banking service.
It is biometric system operated banking where a customer just needs to use his thumb impression to carry out transactions.
“We are getting good response and by looking at the current pace, the number of accounts under the IPPB will increase significantly in the coming days,” he said.
The doorstep banking facility would offer services such as cash deposit, withdrawal, money transfer, utility bill payments and applying loan among others.
He added that the IPPB’s Aadhaar-enabled banking service (AEPS) was another unique feature where a customer of a different bank can withdraw money at the IPPB if his bank account is linked with the Aadhaar number. Moreover, for opening a bank account under the IPPB, the customers would not have to visit the post office branch as they can do so through the mobile banking app.
The interest rate for the savings account is 4 per cent and there is no need to maintain minimum account balance.
For current account, the maximum balance limit is Rs one lakh (transactions can be carried out above this limit during day) at the end of each day.
