Bank unveils Aadhar linked service

Bank unveils Aadhar linked service
Question: Which of the following bank has unveiled the Aadhar linked service on September 9, 2019?
(a) UCO Bank
(b) Karnataka Bank
(c) India Post Payment Bank
(d) Oriental Bank of Commerce
Answer: (c)
Related facts:
  • India Post Payments Bank (IPPB) has announced the launch of Aadhaar-enabled payment services (AePS) for unbanked and under-banked people and it has made 1 crore customers within one year of operations.
  • The bank had been asked to make it to 5 crore customers in the next one year.
  •  The 440 central schemes on-boarded to the direct benefit transfer (DBT) platform, they must also be included to the IPPB platform.
  • Around 34 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana. Of this, 22 crore belong to the rural people.
  • Suresh Sethi, IPPB Managing Director and CEO, notified that its services were available across the country via over 1,36,000 Post Offices and were being delivered by 1,95,000 postmen.


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