You might want to ask yourself which is the largest bank in India when it comes to a number of active branches in India? The answer is; well, you guessed it right Its State bank of India! Oh wait hang on; didn’t you hear about India Post Payments Bank? Prime Minister has launched the India Post Payments Bank App which will become the largest bank in the country by the network of branches.
India Post Payments Bank App Features & Download
Largest Bank in India?
650 branches for the bank will be active and over 1.5 lakh access points in the form of Post office will facilitate withdrawal and deposit of cash. Along with it, the India Post Payment Banks App has been launched on google play store.
This is essentially important and has the potential for the highest upbeat to increase:
- Access towards banking services for all walks of life
- Financial inclusion of people of remote areas.
- Establishment of a financial and banking infrastructure suited for all sections of society.
- Will fulfill the aim of the government to increase banking awareness and a cashless society.
Download India Post Payments App from Play Store
To download IPPB app, you must go to google play store and search for “IPPB Mobile Banking”. Currently trending number 1 in finance apps, you should look for the app developer, Indian Post Payments Bank Ltd to download the original application. The app size is about 16 MB and shouldn’t take much time in downloading. A link to the application is also provided on the Indian Posts payments bank website although it is redirecting improperly.
Indian Post Payments Bank Account Opening
The idea of Postal Payment Bank began two years ago and now it is ready to be launched and will connect all the branches of the Indian Post. The Subscribers of Indian Posts Payments bank will be able to perform all banking activities such as:
- The opening of a savings bank account at zero balance.
- Withdrawal and deposit of cash.
- Money Transfer, payments of bills other hosts of services.
To facilitate this, the Indian Post Payments Bank app has been built which will essentially work as the bank on the go for users who own an Android smartphone.
How To Open Indian Post Payment Bank Account Online
So here are the India Post Payments Bank App Features
Following are the features and procedure to set up India Post payments bank app:
- On the very home screen, you will have the option to log in or Open a new bank account.
- When opening a new bank account, you will need to provide PAN number, Aadhar, and Mobile number to move forward with opening your bank account.
- A verification code will be sent on the mobile number you provide.
- Following authentication, your app will be online but to access mobile banking services, you would need to register your bank account using add bank account feature.
- Once done you will have to setup MPin for security reasons.
- The app will then let you transfer and receive money, pay utility bills, get updates to bank balance etc.
IPPB QR Cards & How To Use It
Along with India Post Payments Bank App, PM Narender Modi Ji also Launched an ATM shaped card known as IPPB QR card. This card is specially designed for Post Payments. Which will reduce the use of Debit card, credit card. Now the payments will be done using this card and its QR Code.
How will India Post Payments Card Work ?
- These are the QR (Quick Response) cards.
- It will work on Biometric, and there is no use of any pin.
- This QR code will be unique for every card.
- This code shows the identity of the account holder.
- Using this IPPB QR card you may pay at any small shop or Kirana Store in future, making you digitally sound.
Impact of IPPB app
With the launch of Indian Post Payments mobile banking app and the Bank itself, other payments bank is bound to face a stiff competition and may even be outclassed because of the vastness of Indian Postal System. This, in turn, will help and facilitate people who are looking to place their money in the safest hands possible and also improve the level of financial inclusion.