ADDC Bandipora reviews functioning of IPP Banks

BANDIPORA: Additional District Development Commissioner (ADDC), Mohammad Qasim on Friday held a review meeting regarding the functioning of newly established India Post Payments (IPP) Banks in Bandipora.
During the first phase, four access points of IPP banks were established at Bandipora town, Nadihal, Onagam and Bankoot, a handout read.
During the meeting threadbare discussions were held for the successful functioning of the India Post Payments Banks in the district.
Superintendent of Post Offices said that IPP Banks offer 4% interest on saving accounts, with a maximum deposit scheme of rupees one lakh. He said, “IPP Banking is a trusted banking for the common man, operating on QR cards.”
ADDC directed the officers of the India Posts Office to depute expert officials to various departments for spreading the financial inclusion agenda by removing the barriers for the unbanked and under-banked population, it read.