India Post Payments Bank (IPPB) would be opened in all the 383 post offices across Mizoram this year, Post Master General T Man Ming Thang said today.
The IPPB will leverage reach of 1.55 lakh post office branches in the country to provide banking and financial service to people in rural areas.
Thang said the IPPB would be launched by Prime Minister Narendra Modi on Saturday and 30 IPPBs would be opened across Mizoram by state governor Kummanam Rajasekharan on the same day.
He said transactions would be purely paperless and without signature of the account holders.
The IPPB services would be available in the remote villages where banks generally do not open branches, Thang told reporters.
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