INSUBCONTINENT EXCLUSIVE:
Interest rates on India Post Payments Bank savings accounts are fixed at 4% per annum
Payments banks
aim to further financial inclusion by providing small savings accounts and payments/remittance services to migrant labour workforce,
low-income households, small businesses, other unorganised sector entities and other users
India Post Payments Bank (IPPB) is starting its operations from August 21
India Post Payments Bank will offer savings and current accounts, mobile banking, SMS banking, missed call banking and phone banking
Customers will also be able to pay their bills and recharge their phones and DTH accounts via India Post Payments Bank
The bank, which has 650 branches, will also offer multi-lingual customer support
