India Post Payment Bank

Question 1

When did Prime Minister launch IPPB ?

Answer 1

1st September

Question 2

What does IPPB offer ?

Answer 2

Doorstep banking

Question 3

How many post offices in India will become banking points ?

Answer 3

1.5 Lakhs

Question 4

How many postmen will be under going training to become bankers ?

Answer 4

3 Lakhs

Question 5

What is the government’s budget for the bank ?

Answer 5

14 Billion ruppees

Question 6

How many existing savings accounts will likely be linked to payment bank ?

Answer 6

170 million

Question 7

How many branches are already in operation ?

Answer 7

650

Question 8

How much government equity is there in IPPB ?

Answer 8

100% Equity

Question 9

Which department does IPPB come under ?

Answer 9

Department of posts

Question 10

Who governs this ?

Answer 10

RBI

Question 11

When did IPPB start operations ?

Answer 11

January 2017

Question 12

Where were the first two pilot branches

Answer 12

Jaipur

Ranchi

Question 13

Upto what amount can IPPB accept deposits from the customer ?

Answer 13

1 lakh ruppees

Question 14

Can IPPB issue loans and credit cards ?

Answer 14

No

Question 15

How many types of saving accounts can IPPB offer ?

Answer 15

3

Question 16

What are the three types of saving accounts IPPB can offer ?

Answer 16

Regular
Digital
Basic

Question 17

What is the interest rate in IPPB bank savings account ?

Answer 17

4% per annum

Question 18

What will be the charge of doorstep banking facility ?

Answer 18

15-35 ruppees

Question 19

What is the limit for doorstep banking ?

Answer 19

10 thousand ruppes

Question 20

What are some other payment banks that have started operations ?

Answer 20

1. Airtel Payments Bank
2. Paytm Payments Bank
3. Fino Payments Bank

Question 21

What are some of the products it will offer ?

Answer 21

Money Transfer
Bill & Utility Payments
Direct Benefit Transfer

Question 22

What channels does IPPB offer services through ?

Answer 22

1. Counter Services
2. Micro-ATM
3. Mobile Banking APP
4. SMS
5. IVR

Question 23

What is the full form of IVR ?

Answer 23

Interactive Voice Response

Question 24

What are some third-party financial services that it can provide ?

Answer 24

Insurance
Credit Cards
Pension

Question 25

Does it offer ATM Debit card ?

Answer 25

No

Question 26

What does it offer in place of ATM Debit Card ?

Answer 26

QR Code Based Biometric Card

Question 27

What information does this Biometric Card have ?

Answer 27

Bank Account Number

Question 28

What is the advantage of this Biometric Card ?

Answer 28

No need to remember password

Question 29

What are some of the challenges faced by IPPB due to the health of the Post office ?

Answer 29

1. Limited Manpower
2. Limited Accessibility
3. Competition with Private Companies

Question 30

What are some technical challenges faced by IPPB ?

Answer 30

Customer’s fingerprints must match UIDIA for each transaction

Question 31

What did the UIDIA tell the Supreme Court regarding biometric matching ?

Answer 31

It can’t ensure 100% matching

Question 32

What are the main advantages of IPPB ?

Answer 32

1. Financial inclusiveness of rural areas

2. Take Banking to doorstep