CURRENT AFFAIRS

Detailed explanation-1: -HDFC Bank Ties Up With IPPB To Deliver Banking Services In Semi-Urban, Rural Areas. HDFC Bank aims to further strengthen its financial inclusion drive by leveraging the robust and extensive distribution network of IPPB’s 650 branches and over 136,000 banking access points across India.

Detailed explanation-2: -HDFC Bank has signed an MoU with India Post Payments Bank (IPPB) to offer banking services to over 4.7 crore customers of IPPB in semi-urban and rural areas.

Detailed explanation-3: -The partnership with RBIH is a milestone in IPPB’s journey to leverage its digital platform and physical network for providing comprehensive, customer-centric, and convenient digital solutions to a billion Indians”.

Detailed explanation-4: -The Union Cabinet on Wednesday approved an additional funding of Rs 820 crore for India Post Payments Bank (IPPB) that will be utilised for expansion of its services to all post offices in the country.

Detailed explanation-5: -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.