competition wizard Published this articles Page No 300
The Postal Department has said it has decided to convert the India Post Payments Bank (IPPB) into a small finance bank (SFB) enabling it to offer small loans to customers Besides the department also looks to open la accounts for IPPB in 100 days Payments banks can only receive deposits and remittances but cannot carry out lending activities Aiming at financial inclusion these banks provide banking services to migrant labourers low-income households etc Small finance banks are allowed to take deposits from customers And as against payments banks SFBs arc also allowed to lend money to people competition wizard
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