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18 branches of India Post Payments bank in Bihar to become operational on September 1

Prime Minister Narendra Modi will inaugurate the nationwide network of India Post Payments bank at a programme to be held in New Delhi on September 1.

patna Updated: Aug 22, 2018 14:55 IST
HT Correspondent
HT Correspondent
India Post Payments bank,Bihar,Bihar postal circle
All branches of the India Post Payments bank that will become operational on September 1 are located in eastern Bihar. (HT Photo )

As many as 18 branches of the much awaited India Post Payments bank will be start functioning in Bihar on September 1. The state postal circle has geared up its machinery to also launch operation of 90 access points across the state.

The business operation of all branches and access points in the state will begin after formal inauguration of the nationwide network by Prime Minister Narendra Modi at a centralised programme to be held in New Delhi on September 1.

All the branches to become operational are located in eastern region of the state. Post master general, east, Bihar, Anil Kumar said that payments bank branches would start functioning at Araria, Banka, Bhagalpur, Sheikhpura, Begusarai, Khagaria, Bihar Sharif, Jamui, Munger, Katihar, Purnia, Lakhisarai, Madhupura, Supaul, Saharsa, Nawada and Samastipur.

“Those who have accounts with post office savings bank will be able to avail all banking services from the payment banks and access points to be opened at post offices. The payments bank will start functioning at 650 branches in different parts of the country, along with 3250 access points after its inauguration by the PM,” he said.

Aadhar number is a mandatory document for opening accounts in the India Post Payments bank and account holders can deposit or withdraw upto Rs 1 lakh from the branches in a day. They will be able to also use internet banking to pay various types of bills like electricity or telephone bill. A toll free number will be issued soon after opening of the bank for offering assistance to the account holders.

First Published: Aug 22, 2018 14:52 IST