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Making it clear India Post Payments Bank is here to take on competition but not at the cost of customers, IPPB chief executive A P Singh said the entity would broaden the market not skim it. The officer was speaking at the launch of the payments bank.
Reacting to Airtel Payments Bank, which started a few weeks ago, offering 7.25 per cent interest on deposits, Singh said while the offer comes with “conditions apply”, there is no such thing with IPPB.
The government-run IPPB, which rolled out pilot services in Ranchi and Raipur districts on Monday, will offer 4.5 per cent interest
