"With the incorporation the board of the India Posts Payments Bank Limited is likely to be constituted soon. The incorporation of the IPPB Limited is a significant step forward as this also paves the way for the bank to begin hiring of banking professionals to set up the bank and begin its operations in 2017," the statement said.
The Department of Posts is expected to complete the roll out of its branches all over the country by 2017, it added.
The aspiration of the IPPB is to become the most accessible bank in the world riding on state-of-the-art banking and payments technology. It aims to become a powerful vehicle of financial inclusion in the country.
