2018
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bajaj Allianz
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Life Insurance Corporation of India
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Birla Sun Life
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Reliance Life Insurance
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Detailed explanation-1: -India Post Payments Bank (IPPB) is offering the product in partnership with Bajaj Allianz Life Insurance Company Ltd. (BALIC).
Detailed explanation-2: -Speaking on the first floating financial literacy camp, Shri J Venkatramu, MD & CEO, India Post Payments Bank said, “Through Niveshak Didi, IPPB will attain next milestone surpassing the challenges faced by rural masses in terms of language and their basic understanding of financial products and services.
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.
Detailed explanation-4: -With this partnership, HDFC Bank aims to further strengthen its financial inclusion drive by leveraging the robust and extensive distribution network of IPPBs 650 branches and over 136, 000 banking access points across India.
Detailed explanation-5: -Notably, India Post Payments Bank (IPPB) didn’t earn anything in the past three financial years. In FY21, till January 21, 2021, the payments bank raked in revenue of Rs 26 lakh, or 0.02 per cent of the total revenue earned from value-added and non-traditional services.