The Hailakandi Branch of India Post Payments Bank (IPPB) was launched by local MLA, Anowar Hussain Laskar in the presence of other dignitaries on Saturday.
Speaking as chief guest at the launching ceremony function held at Nazrul Sadan auditorium in Hailakandi town on Saturday, MLA Laskar said IPPB would ensure financial inclusion for the masses.
He urged everyone to avail the wide range of services offered by IPPB through easy banking transaction applications in which people will no longer have to queue up for banking services.
Addressing the gathering as guest of honour, Deputy Commissioner Adil Khan said India Posts with its wider postal reach would be able to extend its services in rural areas through IPPB than all the banks put together.
“IPPB armed with latest technology will help to revolutionize banking sector in the country in the days ahead,” added Khan.
Earlier, in his address as guest of honour, Superintendent of Police, Mohneesh Mishra, while dwelling at length on the importance of postal services over several decades, said with the launching of IPPB, rural people particularly the deprived sections of society would be able to get banking services at their doorsteps.
Post Master, Hailakandi, Gautam Chanda also spoke on the occasion.
IPPB offers three types of saving accounts: Regular savings account, Digital savings account and Basic savings account.
The bank has been incorporated as a public sector company under the Department of Posts with 100 per cent government equity and is governed by the Reserve Bank of India (RBI).
IPPB offers an array of products such as savings and current accounts, money transfer, direct benefit transfers, bill and utility payments, and enterprise and merchant payments.