Centre to establish 100 new India Post Payments Bank branches in Northeast

To boost financial inclusion in the northeastern states, the Indian government has unveiled plans to set up 100 new branches of India Post Payments Bank (IPPB) across the region. The announcement was made by Finance Minister Nirmala Sitharaman during the Union Budget presentation for 2024-25.

The expansion is part of a broader initiative to enhance banking access in underserved areas. IPPB, which already boasts crores of accounts and operates through lakhs of branches nationwide, aims to strengthen its presence in the Northeast with these additional facilities.

Sitharaman highlighted the government's commitment to improving financial infrastructure as a crucial step toward ensuring equitable development across all regions. The new branches will provide a range of banking services, further integrating the remote and economically diverse areas of the Northeast into the formal financial system.