New Delhi: India Post Payment Bank of India Post Office (IPPB) will provide payment facility to all 1.55 lakh post offices in the country and offer financial services.

According to the information received, this bank can accept deposits up to only one lakh rupees from one person or a business unit. The bank will deposit a small amount and also transfer it. The bank can also provide Internet services and some special services.

By the end of 2018, all three lakh employees will be able to provide this service, after which it will be India's second largest payment bank in terms of access.

IPPB Chief Executive Officer P. Singh said that until March 2018, our post bank will be in every district of the country and before the end of 2018 will have access to this facility.

In the beginning of January this year, private sector company Bharti Airtel had started operating the Airtel Payment Bank. Its reach is up to 2.5 lakh shopkeepers across the country.

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