MP inaugurates 1st branch of India Post Payments Bank in isles

Port Blair
1 Sep 2018

The Member of Parliament, Mr Bishnu Pada Ray inaugurated the first branch of India Post Payments Bank in these islands on Saturday. Mr KP Sandeep I.Po.S, Senior Superintendent of Railway Mail Service, Dr Jaidev Singh, Principal of Tagore College of Education were present as guests of honour on the occasion. The Chief Manager of Syndicate Bank, Mr Kannadhasan, AGM of IDBI Bank , Mr Gobu, Senior Manager of Bank Of India,  Mr Sunniz Minz, Mr P.K.Kaushik, vice president of TCI Sea Ways and Dr Francis Xavier, Principal of JNRM were also present at the function. Addressing the gathering, Mr Bishnu Pada Ray spoke about the phenomenal idea of the Prime Minister in elevating the standards of Gramin Dak Sevaks to a new level by making them as ambassadors of Financial Inclusion. He added the benefits granted to government servants especially to the Postmen and GDS of Department of Posts. He expressed hope that in near future residents from North Andaman to Campbell Bay will not be required visit bank, rather bank shall reach out to the doorsteps of common man through postmen and GDS.
Earlier, the branch manager of IPPB Port Blair, Mr Mohan Kumar welcomed the gathering. The Deputy Superintendent of Posts proposed the vote of thanks. The nationwide inauguration of IPPB launch was done by Mr Narendra Modi, Hon’ble Prime Minister of India in the august presence of Mr Manoj Sinha, Minister of State (I/C) of Ministry of Communications and Mnister of State for Railways at Talkatara Stadium, New Delhi today. The function at Port Blair H.P.O was presided over by Mr Madusudan Das, Deputy Superintendent of Posts. India Post Payments Bank is a new generation banking facility of the nation. Utilising the vast postal network of nearly 1.55 Lakh post offices, IPPB will reach every corner of the country. It offers customers banking at their convenience where no monthly average balance is required to be maintained. It also offers simplified banking services through QR card. Facilities like recharge, bill payments and insurance premiums are also available with IPPB. It offers easy money transfer options like RTGS, NEFT, IMPS, UPI and AEPS. Provision of loans, insurance and investment is also offered to the customers through third party tie-ups. An existing Post Office Savings Bank account can be linked to IPPB account where customers can avail the sweep in-sweep out facility.