Which bank will provide technology platform for pilot launch of India Post Payments Bank (IPPB).

2017

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

A	Indian Bank
B	Canara Bank
C	State Bank of India
D	Punjab National Bank

Explanation:

Detailed explanation-1: -IPPB uses DoP’s giant network of 189, 000 GDS to deliver financial products and services at the convenience of the customers’ doorstep. Further, the trusted network of GDS offers handholding support to customers to bring low-and moderate-income (LMI) people into the fold of digital payments.

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

Detailed explanation-3: -India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched as a pilot project on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh), with the objective of being present across India by the FY 2018-2019.

Detailed explanation-4: -Fincluvation mentors will work closely with the startups to tweak products to the customer needs and align the go-to-market strategies with operating models of IPPB and DoP. Start-ups can apply at Fincluvation page https://www.ippbonline.com/web/ippb/fincluvation.

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