National Desk, 23rd July: In a significant move to boost financial inclusion in the northeastern states, Finance Minister Nirmala Sitharaman announced the establishment of 100 new branches of India Post Payments Bank (IPPB) across the region. The announcement was made during the presentation of the Union Budget for 2024-25.
This expansion is part of a larger initiative aimed at enhancing banking access in underserved areas. IPPB, which currently manages crores of accounts and operates through lakhs of branches nationwide, will significantly strengthen its presence in the Northeast with these additional facilities.
Sitharaman emphasized the government’s commitment to improving financial infrastructure as a vital step toward ensuring equitable development across all regions. The new IPPB branches will offer a wide range of banking services, helping to integrate remote and economically diverse areas of the Northeast into the formal financial system.
By expanding IPPB’s reach, the government aims to provide better banking access, promoting financial inclusion and economic growth in one of the country’s most diverse and geographically challenging regions.