State

IPPB launched in Nagaland

IPPB launched in Nagaland
R Binchilo Thong along with Lalramzauva release the special cover on Financial Inclusion & Launch of IPPB Kohima branch. (DIPR)
Correspondent KOHIMA, SEP 1 (NPN) | Publish Date: 9/1/2018 12:51:57 PM IST

Along with the rest of the country, Nagaland on Saturday launched the India Post Payment Bank (IPPB) Kohima Branch office. IPPB will have 650 branches and 3250 access points spread across the country and the Centre aims to link all the 1.55 lakh post offices to the India Post payment system by December 31, 2018. 

In his brief address at the inaugural programme here at Hotel Japfu, chief secretary R. Binchilo Thong said the objective of IPPB was to spearhead financial inclusion agenda by removing the barriers especially in the unbanked rural areas. 

With 43 sub post offices and 286 branch post offices across the state, Thong said IPPB will cover all the areas in a phased manner and would provide doorstep delivery facility through the postmen, who would act as bankers particularly for the rural areas. Thong said with the launch of IPPB, products such as remittances and money transfer, direct benefit transfers, bill and utility payments, merchant payments, scholarship, pension etc. would be made easier.

He said that the ultimate aim of all these exercise was to further financial inclusion and make India cashless to make it convenient and accessible.

While acknowledging the postal department for the initiative, especially in the unbanked blocks, the chief secretary assured to provide any kind assistance if required.

Superintendent Posts, Nagaland post division, Lalramzauva in his address highlighted IPPB aims and objectives. 

He said IPPB was a differentiated bank set up under the guidelines of the RBI to further financial inclusion of the under-served population, low income households, small businesses etc. Towards this he said IPPB will take basic banking facilities to the un-banked and under-banked sectors across the state. Lalramzauva appealed to the people of Nagaland to join hands in order to take forward the financial revolution for empowerment of the unbanked and under-banked sector.

Earlier, R. Binchilo Thong released the special cover on Financial Inclusion & Launch of IPPB Kohima Branch. The programme was chaired by marketing executive Imtikumzuk. Welcome addresse was delivered by IPPB branch manager, Kohima, Sagar Halder. 

(Modi launches India Post Payments Bank, see p-7)

 

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