Narendra Modi to launch 650 branches of Post Payments Banks soon, communication minister tells Lok Sabha

Manoj Sinha said in the Loka Sabha the India Post Payments Bank will have 1.55 lakh access points, of which 1.30 lakh will be in rural areas, and will work like a bank

Press Trust of India August 01, 2018 17:20:02 IST
Narendra Modi to launch 650 branches of Post Payments Banks soon, communication minister tells Lok Sabha

New Delhi: Prime Minister Narendra Modi will soon inaugurate India Post Payments Bank (IPPB) operations with 650 branches across the country, Communications Minister Manoj Sinha said Wednesday.

"The India Post Payments Bank will have 1.55 lakh access points, of which 1.30 lakh will be in rural areas, and will work like a bank," he said in the Lok Sabha.

Narendra Modi to launch 650 branches of Post Payments Banks soon communication minister tells Lok Sabha

File image of Manoj Sinha. Image. Reuters

"Prime Minister will launch the India Post Payments Bank. The date of launch would be decided in a day or two," Sinha said during Question Hour.

Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses. Sinha also said the government has decided that every Lok Sabha constituency should have one Passport Seva Kendras.

There are about 251 Passport Seva Kendras across the country and it has been decided that there should be at least one kendra within a 50 km radius, he added.

Updated Date:

also read

Prime Minister Narendra Modi pitches for 'double engine' development in Manipur
Politics

Prime Minister Narendra Modi pitches for 'double engine' development in Manipur

The prime minister said that obstacles in the growth journey of the state have been removed and the next 25 years are the 'Amrit Kaal' of Manipur's development

UP Assembly polls: Prime Minister Narendra Modi chairs BJP's CEC meet, first list of candidates likely out soon
Politics

UP Assembly polls: Prime Minister Narendra Modi chairs BJP's CEC meet, first list of candidates likely out soon

This comes in the backdrop of the BJP witnessing an exodus ahead of the Uttar Pradesh Assembly elections with Dharam Singh Saini being the latest minister to resign from BJP

Veer Baal Diwas to be observed on 26 Dec as tribute to Guru Gobind Singh's sons
India

Veer Baal Diwas to be observed on 26 Dec as tribute to Guru Gobind Singh's sons

The Modi government has been taking a number of measures to reach out to the Sikhs, a community that was perceived to be upset with the ruling BJP after three farm reform laws were enacted