CURRENT AFFAIRS

Detailed explanation-1: -India Post Payments Bank (IPPB), a digital fist bank, said it achieved the milestone of onboarding 5 customers in just 3 years of inception.

Detailed explanation-2: -Opened in 2018, as of January 2022, the bank has more than 5 crore customers.

Detailed explanation-3: -A. You can avail yourself of services such as easy bill payments, Doorstep Banking services, instant money transfer through IMPS and other remittance services. In addition, you will get the benefit of Virtual Debit card, QR card, phone banking, SMS banking, free quarterly email statements and SMS alerts.

Detailed explanation-4: -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.