On September 1, 2018, Prime Minister Narendra Modi launched the India Post Payments Bank - an ambitious initiative aimed at making banking services available at every Indian's doorstep. This payments bank of the Indian postal department will work through its huge network of post offices and nearly 3 lakh postmen and Grameen Dak Sewaks. The new payments bank will offer a range of products such as savings and current accounts, money transfer, direct benefit transfers, bill and utility payments, and also enterprise and merchant payments. These products and services will be offered through multiple channels like counter services, micro-ATM, mobile banking app and SMS. In this episode of IN DEPTH, we take a look at what is a payments bank, how is the India Post Payments Bank different from other such entities, what are the services that it offers and how does it aim to revolutionise banking and digital payments in India..
Anchor: Teena Jha
Tags : Rajya Sabha TV , RSTV , In Depth , Prime Minister Narendra Modi , India Post , India Post Payments Bank , Banking services , rural areas , Department of Post , Postman , Post-offices , Grameen Dak Sewaks , savings account , money transfer , direct benefit transfers , bill and utility payments , mobile banking , digital banking , mobile banking app , micro-ATM , Postal reforms , connectivity , infrastructure , training , electricity , postal reforms ,