India Post Payment Bank to commence during this weekend
Posted on: 01/Jun/2018 4:16:24 PM
The central government has decided to commence the services of the India Post Payment Bank in Tamil Nadu before this weekend.
So far, only Airtel, Paytm, and Fino are the companies which were permitted to provide payment bank services.
Now, the Postal Department has also procured the permission to commence payment bank services. The central government has decided to set up the payment bank services of India Post in 40 places in Tamil Nadu and Puducherry.
Savings accounts, current account, and deposits accounts can be started. Amounts from Rs. 100 to Rs. 1 Lakh can be deposited. For the financial transactions including taking money from ATMs, no charges are collected by the Postal Department. No loans or credit cards will be given. All other services offered by the public sector banks are available in the Post Office Payment Bank.
Separate offices are being set up and special higher officials have been appointed for this service. The public sector bank customers can also do financial transactions through the India Post Payment Bank.
Only Aadhar card is required for opening an account. The Post Payment Bank officials informed that the services are scheduled to start by this weekend.
