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.
The Supreme Court formed a high-level committee, headed by retired Bombay High Court Judge Pradeep Nandrajog, for recovery of money from the defaulters against whom the National Spot Exchange (NSEL) has secured money decrees.
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