India Post Payments Bank has come into existence after it received a certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to begin operations in 2017. This will be the first PSU under the Department of Posts which expects to complete the rollout of its branches all over the country by September 2017.
With the incorporation, the Board of the India Post Payments Bank Limited is likely to be constituted soon. The incorporation of the IPPB Ltd is a significant step forward as this also paves the way for the bank to begin hiring of banking professionals to set up the bank and begin its operations in 2017. The India Post Payments Bank aims to become the most accessible bank in the world, riding on advanced banking and payments technology. Coupled with physical presence across 1.55 lakh post offices and the reach of the postman, the India Post Payments Bank plans to become a powerful and effective vehicle of real financial inclusion in the country.
So let’s do:
1. India Post Payments Bank incorporated, to start ops in ____.
Source – The Hindu