India Post Payments Bank to be converted into small finance bank

India Post Payments Bank to be converted into small finance bank

• The Postal Department has announced that it will convert its India Post Payments Bank into a small finance bank to a Small Finance Bank.

• The decisions were taken at the annual Heads of Circles Conference held at Srinagar in Jammu and Kashmir.

• IPPB has also set a target to open 1 crore accounts in 100 days.

Points to remember:

1. Which Payments bank has announced its plan to convert to a SFB?