New Delhi, July 31 -- India Post Payments Bank (IPPB) has made its Self Help Group (SHG) Savings Account facility available across the country through more than 1.64 lakh post offices, the government informed the Rajya Sabha.

Minister of State for Communications and Rural Development Pemmasani Chandra Sekhar said the account does not require any minimum initial deposit or monthly average balance, making it accessible to women-led SHGs.

Account Offers Zero-Balance Facility, Rs 2 Lakh Limit

As a payments bank, IPPB allows a maximum end-of-day balance of Rs 2 lakh in the account. Account holders also receive free cash deposit and withdrawal facilities, one physical account statement each month, and no charges for account closure or issuan...