The India Post Payment Bank (IPPB) has started operations in the country by rolling out pilot services in Raipur and Ranchi on January 30, 2017. Now, the Parliament was informed on Friday that the bank which has been set up with a vision to provide affordable banking and financial services to people in rural areas has opened 18,96,410 accounts since its inception.
Also, 9,75,806 transactions took place till December 20 this year, Minister of State for Finance Shiv Pratap Shukla said in a written reply in the Rajya Sabha.
In 2016-17, a total of 1,654 accounts were opened of which 967 were in Chhattisgarh and 687 were in Jharkhand. In 2017-18, it opened 7,735 accounts of which 3,874 were in Chhattisgarh and 3,861 were in Jharkhand, Shukla said.
The number of accounts opened by IPPB reached 18,96,410 in states like Bihar, Odisha, Telangana, Uttar Pradesh, Madhya Pradesh, Maharashtra, Karnataka, Andhra Pradesh, Rajasthan, Delhi, Gujarat, Tamil Nadu, and Jharkhand till December 24, 2018.