Five Indian Post Payment Banks to be Launched in Sikkim Tomorrow

In a nation-wide launch programme tomorrow, the Prime Minister of India Narendra Modi will launch Indian Post Payment Bank (IPPB) from New Delhi. It is as a part of this launch that north-eastern state Sikkim will get 5 branches of the IPPB which is going to operate from September 1. The IPPB branches to be launched in Sikkim are distributed in Gangtok HPO, Tadong SO, Samdur BO, Dhajay BO and Lingdum BO.

Including the five branches to be opened in Sikkim, there will a total of 650 branches in all over the country. Along with these, there will be 3,250 access points of Indian Post Payment Bank. The to-be-launched bank will offer a range of services like savings, current accounts, remittance and money transfer, direct benefit transfer, bill and utility payments and enterprise and merchant payments.

As a part of the promotion of the new branches of the IPPB, the Postal Department of Gangtok took out a rally today and distributed flyers among the people. The rally marched from Gangtok Head Post Office to Nam Nam distributing and made efforts to make people know about the new bank.

The launch will take place tomorrow as the event is scheduled to be held at the Talkatora Stadium in New Delhi. An official statement said, "IPPB has been envisioned as an accessible, affordable and trusted bank for the common man, to help speedily achieve the financial inclusion objectives of the Union Government."

All the 1.55 lakh post offices in the country will be linked to the IPPB system by December 31, 2018.