Banking service for all: R. Gopalakrishnan, MP, launching the Tallakulam branch of India Post Payments Bank in Madurai on Saturday. | Photo Credit: S. James more-in Revenue Minister R. B. Udayakumar and MP R. Gopalakrishnan launched Madurai’s first India Post Payments Bank at the Tallakulam Head Post Office on Saturday. Mr. Gopalakrishnan said post offices were the only service-oriented network in the country. The Department of Posts had adapted to the changing times by offering more services like the IPPB to stay relevant, he said ande MP opened an account of his own at the event. Director of Postal Services K. Somasundaram said it was enough if one had an Aadhaar Card and a mobile number to open the bank account. There was no need for documents in support of proof. Tirunelveli The India Post Payment Bank was opened at Palayamkottai Head Post Office, Kalakkad sub-post office, Pathai branch post office, Padalayarkulam branch post office and Singampathu branch post office. Rajya Sabha MPs Vijila Sathyananth and S. Muthukaruppan and Palayamkottai MLA T.P.M. Mohideen Khan were present at the ceremony in Tirunelveli. Customers can open the account at the counters of these post offices or through the postmen. Account holders can transfer funds, deposit or withdraw money, recharge or pay bills through these accounts besides enjoying doorstep banking services through the postmen. There is no need to maintain minimum balance. A quick response card-like ATM card will be provided to the account holders for banking transactions. Banking at customers’ convenience, instant and paperless account opening, 4% interest rate, no minimum balance maintenance, free quarterly account statement, mini statement through SMS etc., are some of the salient features of India Post Payment Bank. Ramanathapuram Collector K Veera Raghava Rao inaugurated IPPBs in five post offices in the district, including the one at the HPO. People who were getting pensions under the social security schemes and wages under the Mahatma Gandhi National Rural Employment Scheme could open accounts in IPPBs and utilise the services, he said. Superintendent of Post Offices M Veeraputhiran said about 3,000 people had opened accounts in the IPPBs opened in Uchipuli, Rettaioorani, Nagachi and Mangundu. Assistant Superintendent of Post S Vijaya Gomathi said small scale entrepreneurs could open current account also in the bank. The IPPB would function like any other nationalised banks but would have no loan facility. Mudukulathur MLA S Pandi and Sri Ramanathaswamy temple ‘thakkar’ Raja N Kumaran Sethupathy were present.

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