India post payments bank(IPPB) and Hindustan Zinc Limited (a subsidiary of Vedanta Group) have signed an MoU to accelerate economic growth and bring financial inclusion in the lives of the rural community beneficiaries under it’s CSR program, asserted the Ministry of communications.
The alliance is set to transform the financial terrain of rural Rajasthan, by pioneering inclusive financial solutions. The collaborations ensures to create a lasting impact on the lives of community beneficiaries around Hindustan Zinc’s operational areas.
Arun Mishra, CEO, HiZL shared, “This alliance with India Post Payments Bank reflects our dedication to empowering communities. By merging our strengths with IPPB, we aim to redefine financial inclusion and empower our community beneficiaries with access to advance financial services. This collaboration exemplifies our commitment to making meaningful impact on lives, fostering resilience and driving positive change in the communities we serve”
The key services promised by IPPB will ensure Financial Inclusion and ensure aid opening bank accounts, access to pension products, long-term savings and investment schemes. It will further aid in providing support and empowering 3.5 lakh beneficiaries blanketing SHG women, farmers, and youth to become Individual business correspondents for various IPPB services.
Indian Post Payments Bank(IPPB) has been set up under the Department of Posts, Ministry of communication with 100% equity owned by Government of India.
The IPPB was launched on Sep1. 2018. The bank has been established with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank Is to remove barriers for the underbanked and reach the last mile leveraging the Postal network comprising 1,65,000 post offices(1,40,000 in rural areas) and 3,00,000 postal employees.
Hindustan Zinc, a Vedanta Group company in Zinc lead and silver business is world’s 2nd largest zinc producer and 5th largest silver producer. The company governs about 80% of the growing Zinc market in India with it’s headquarters at Udaipur along with Zinc lead mines and smelting complexes spread across the state of Rajasthan.
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