Financial support to India Post Payments Bank
- The Union Cabinet has given its approval for the financial support of Rs. 820 crore for the India Post Payments Bank. This monetary support will help the state-run payments bank penetrate deeper into the nation, especially in the country’s rural areas, and will work towards boosting financial inclusion.
- IPPB has more than five crore accounts currently and is operating through 1.36 lakh branches.
- IPPB plays an instrumental role to carry out the various social objectives of the central government.
- This support will help the bank to advance the financial inclusion agenda of the government, especially in the country’s rural areas.
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