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Khandu launches India Post Payments Bank
 ITANAGAR, Sept 2 - Arunachal Pradesh Chief Minister Pema Khandu launched the payments bank of India Post, Arunachal Pradesh Division in a function at Dorjee Khandu State Convention Centre here on Saturday.

 In Arunachal, 10 branches of IPPB co-located at Post Offices with five access points each under Wave-0 will have the ‘doorstep banking’ facility.

IPPB will offer various range of products and services such as savings account, current account, remittance services such as national electronic funds transfer, real time gross settlement, immediate payments system, unique payment interface, Aadhaar enabled payment system, bill payment services and other third party products such as insurance, processing of loans, mutual funds, etc.

“IPPB services in Arunachal will be a major booster in reaching the un-banked and under-banked areas of the State,” Khandu said in his address to the gathering.

On the occasion, the Chief Minister along with Deputy Chief Minister Chowna Mein distributed two quick response (QR) cards to the account holders to mark the launch of IPPB.

The biggest aim of IPPB is the financial inclusion of the under-banked population of India. Concurrently this bank will also drive cashless transactions and promote digital payments at large scale, stated Ashoke Pal, Director of Postal Services, Arunachal Division.

He said the unique feature of this bank is ‘door step banking’ – by which people can avail the services of the bank at their doorsteps through Postmen and Grameen Dak Sevaks who shall attend on request made over phone calls, SMS or other various channels. The postmen and Grameen Dak Sevaks will use smart-phones to process the requests made by the customers using an app called ‘micro-ATM’.

“The Wave-1 and Wave-2 launch programme are coming soon and eventually whole of Arunachal will be covered by the IPPB wherever Post Offices are located,” Pal informed.

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