India Post Payment Bank is being linked to Unified Payment Interface (UPI) since April.
This will provide state-of-the-art mobile banking facility to all the customers of IPPB, a bank associated with the Indian Postal Service. After this, post office consumers will be able to withdraw money from any of their bank accounts from any post office.
Preparation to connect with
UPI UPI is a fast payment system. Which has been developed by National Payments Corporation of India (NPCI). With the help of UPI, anyone can make a fast payment between two different bank accounts. A senior officer of the IPPB said that India Post Payment Bank will join Unified UPI (UPI) from April 2020. After this, the customers of IPPB will be able to pay any account from their account. Apart from this, other facilities will also be provided.
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Payments will also be done through QR code
, after the UPI is implemented in India Post Payment Bank, all the customers of this bank will be able to pay the railway tickets on the IRCTC portal. Apart from this, you will be able to scan the QR Code at other stores and make E-Payment. The official said that the IPPB is also working on the facility of fast tag recharge. It is expected that from April, the bank’s customers will also be able to recharge Fastag from their account. For this, the facility of fast tag recharge will be included on the application of IPPB.
Emphasis on transactions from Aadhaar
Most companies are also dealing with applications other than banks. All companies are now working on transactions from Aadhaar. The IPPB also does not want to be left behind. For this reason, IPPB is emphasizing to raise awareness about Aadhaar Enabled Payment System. This will make it easy for the customer to withdraw money from his bank account from any post office, but it is necessary to link his Aadhaar bank account. It is also necessary to have a post office in its area to take advantage of IPPB.
ore interest on savings
Post office is giving higher rate of interest on Savings Accounts than other banks. The post office has an interest rate of 7.7 percent on a 5-year FD. Which is the highest compared to the rest of the banks in the country. The post office is paying 7.9 percent interest on the 5-year National Savings Certificate (NSC). Apart from this, there is a 7.6 percent interest rate on Kisan Vikas Patra (KVP).
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