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India Post Payments Bank opens 4 branches in Udupi district

India Post Payments Bank opens 4 branches in Udupi district

Mangalore Today News Network

Udupi, September 1, 2018: Priyanka Mary Francis, Udupi DC on September 1,  Saturday stated that the opening of the India Post Payments Bank (IPPB) would help in providing banking services those living in scattered houses in rural areas of Udupi district.

Udupi dc

She was speaking as the chief guest at the inaugural function of the Udupi branch of the IPPB here. Four branches of the bank were opened at Bannanje here, and at Belapu, Paniyur, and Palimar villages in the district.

DC  Francis said many people lived in scattered houses in rural areas in the hilly areas of the district. It would be difficult for such people to go to banks or ATMs. The IPPBs addressed this problem.

There was 99% coverage of Aadhaar and mobile telephony in the district. This was an advantage as people could open their accounts with the help of their phones. The postmen had a far wider reach than the banking correspondents in rural areas.

Hence getting money was easier through the IPPBs because the postmen would be providing banking at the doorstep of the people. More awareness needs to be created about the advantages of this bank among people, Udupi DC Francis said.

Suryanarayana Rao, Postmaster, welcomed the gathering. Rajashekhar Rao, Superintendent of Posts, delivered the introductory remarks.

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