India, May 1 -- India Post Payments Bank has launched a zero-balance savings account for Self Help Groups (SHGs), with a maximum balance limit of Rs2 lakh, as part of its push to deepen financial inclusion in rural India.
Operating under the Department of Posts, IPPB said the initiative is designed to provide a simple, accessible, and cost-effective banking solution for SHGs, which play a critical role in rural economic activity and are closely aligned with programmes such as the National Rural Livelihoods Mission.
IPPB Managing Director and CEO R Viswesvaran said the offering aims to make banking more inclusive at the grassroots level, particularly for women-led groups. The bank plans to leverage its doorstep banking model and digital...