CURRENT AFFAIRS

Detailed explanation-1: -India Post Payments Bank (IPPB), a division of India Post, the country’s postal giant, has partnered with the Indian microblogging platform Koo. IPPB has signed a memorandum of understanding (MoU) with Koo to boost financial inclusion and literacy in the country.

Detailed explanation-2: -Indian microblogging platform Koo said on Tuesday it had partnered with India Post Payments Bank (IPPB), a division of India Post, under the Ministry of Communications.

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: -This important partnership with HDFC Bank is a step in that direction of promoting an inclusive, digitally-driven and social banking ecosystem.”

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.