What percentage Government of India (GOI) equity will be available in India Post Payments that will be set up under the Department of Posts

2016

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	85 %
B	50 %
C	100 %
D	99 %

Explanation:

Detailed explanation-1: -The Union Cabinet under the Chairmanship of Prime Minister has given its approval for setting up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts, with 100% Government of India (GOI) equity.

Detailed explanation-2: -India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India.

Detailed explanation-3: -India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India. IPPB was launched by the Hon’ble Prime Minister Shri Narendra Modi on September 1, 2018.

Detailed explanation-4: -Building the most accessible, affordable and trusted bank for the common man. IPPB’s Mission: Spearheading financial inclusion by removing barriers and reducing costs for accessing banking services.

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