India Post Payments Bank Limited - first PSU of department of Posts

Q.  Which of the following is true regarding India Post Payments Bank Limited?
- Published on 19 Aug 16

a. It is a PSU under Finance Ministry
b. It is a PSU under Ministry of Communications
c. It is not a PSU but it comes under Finance Ministry
d. It is not a PSU and is an subsidiary of RBI.

ANSWER: It is a PSU under Ministry of Communications
 
  • The India Post Payments Bank Limited has received the Certificate of Incorporation from the Registrar of Companies, Ministry of Corporate Affairs under the Companies Act 2013.
  • This would be the first PSU under the Department of Posts.
  • Department of Posts comes under Ministry of Communications.
  • The incorporation of the IPPB Ltd is a significant step forward as this also paves the way for the bank to begin hiring of banking professionals to set up the bank and begin its operations in 2017.
  • The Department of Posts is expected to complete the roll out of its branches all over the country by September 2017. This could be the fastest roll out for a bank anywhere in the world.
  • The aspiration for the India Post Payments Bank is to become the most accessible bank in the world riding on state of the art banking and payments technology.

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    Discussion

  • kunal   -Posted on 14 Oct 16
    I want to know whether jobs of ippb are secured like pnb ? I have applied for scale 2 area operation

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