PM Modi: 'Trusted postman will now become a banker'

Prime Minister Narendra Modi launched India Post Payments Bank (IPPB). IPPB will have 650 branches and 3250 Access Points across the country. All the 1.55 lakh Post Offices in the country will be linked to the IPPB system by December 31. IPPB or India Post Payments Bank is the country's largest payments bank that will offer a wide range of banking services such as savings and current accounts, money transfer, direct benefit transfers, bill and utility payments, and enterprise and merchant payments. PM Modi on the launch said, "Trusted postman will now become a banker to millions of unbanked and under-banked Indians."