The Union Cabinet approved additional funding of Rs 820 crore for which bank, to expand its services?

• A. NSDL Payment Bank
• B. Unity Small Finance Bank
• C. India Post Payments Bank
• D. AU Small Finance Bank

Answer: (C)

The Union Cabinet approved additional funding of Rs 820 crore for India Post Payments Bank (IPPB) for the expansion of its services to all post offices in the country. Out of the 1.56 lakh post offices, IPPB currently operates from 1.3 lakh post offices. Since the launch, it has opened over 5.25 crore accounts with 82 crore aggregate number of transactions.