K G Karmakar and Gauri Shankar were appointed as Independent Directors of India Post Payments Bank (IPPB). The Appointments Committee of the Cabinet has approved their appointment to the post on the board of directors of the bank for a period of three years.
The IPPB has been incorporated as a public sector bank under the Department of Posts with 100 percent equity of the government of India.
About IPPB in Brief-
- IPPB has launched on January 30th, 2017 in Ranchi and Raipur
- For now, IPPB is offering Savings account up to a balance of Rs 1 Lakh, along with digitally enabled payments and remittance services of all kinds between individuals
- IPPB offers 3 distinct accounts- 1. Regular Account – Safal, 2. Basic Savings Bank Deposit Account (BSBDA) – Sugam, and 3. BSBDA Small – Saral.
- The Tagline of IPPB is Aapka bank, aapke dwaar.
- IPPB incorporated as a public limited company under the Department of Posts, Govt. of India on 17th August, 2016.
Source- Business Standard