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Dak sevaks- Key providers of the financial services

| Published: Monday, October 29, 2018, 18:54 [IST]

New Delhi, Oct 29: Central Government launched the India Post Payments Bank (IPPB) in the month of September 2018. The postal department has opened IPPB branches across 650 districts in the country.

Central Government launched the India Post Payments Bank (IPPB) in the month of September 2018. The postal department has opened IPPB branches across 650 districts in the country.

Over 1.5 lakh post offices and three lakh postmen or "grameen dak sevaks" shall be empowered with smartphones and digital devices to provide financial services, especially to the middle-class families.

Benefits of IPPB:

Money transfer
Transfer of government benefits
Bill payments
Investments
Insurance

Under IPPB postmen started delivering these services at the doorstep. IPPB has also started facilitating the digital transactions and helping in delivering the benefits of schemes such as Pradhan Mantri Fasal Bima Yojana, Pradhan Mantri Jivan Jyoti Yojna, etc.

The mission of the IPPB is to make 3 lakh "dak sevaks" the key providers of the financial services to every home, every farmer and every small enterprise in the villages. IPPB shall reach over 1.5 lakh post offices across the country within the next few months.