Prasad to FinMin: Consider IPPB for DBT disbursal

New Delhi: Taking a note of Union Finance Minister Nirmala Sitharaman's speech in 2018, Union Telecom Minister Ravi Shankar Prasad has asked the Finance Minister to extend her support in creating awareness about the benefits offered by India Postal Payments' Bank (IPPB).

In a letter to Sitharaman, the Telecom Minister said, "The IPPB is not only utilizing the reach and credibility of over 1.5 lakh post offices across the country, but the postal bank is also offering inter-operability of all accounts through Aadhaar Enabled Payment System (AePS) and a reliable network for Direct Benefit Transfer (DBT) disbursements."

Stressing on the viability and user-friendly features of the IPPB, Prasad has asked Sitharaman to consider IPPB for the disbursal of government benefits of the Finance Ministry and departments of the ministry.

"The doorstep delivery facility of the IPPB making banking a hassle-free affair for senior citizens and other as customers are availing all banking amenities at their home. Since, the IPPB is a 100 per cent government-owned bank, its offering accountability of service," the minister said.

The Finance Minister has been urged to open her account in the IPPB. Meanwhile, the Telecom Minister on Friday opened his account in the IPPB at Patna circle.

Notably, Sitharaman had appealed to people in 2018 to make use of the IPPB to reap the benefits offered by the Centre and state governments. Sitharaman, the then Defence Minister, had endorsed the benefits of the IPPB after formally launching the scheme in Tamil Nadu last year.