Photo: Pradeep Gaur/MintNew Delhi: India Post Payments Bank plans to roll out its branches across India from May 2018 with an investment of about Rs1,450 crore, postal secretary Ananta Narayan Nanda said on Monday. We will start rolling out all India Post Payments Bank (IPPB) branches between May and September,” Nanda told PTI. He said all 1.55 lakh post office branches will operate as access points and 650 payments bank branches will provide them back-end support. Unlike traditional banks, payments banks are not allowed to give loans or credit to customers. IPPB will be the third payments bank to have full fledged operations after Airtel Payments Bank and Paytm.

Source: Mint February 05, 2018 14:48 UTC