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India Post Payments Bank signs MoU with Hindustan Zinc

Utkarsh Classes 12-01-2024
India Post Payments Bank signs MoU with Hindustan Zinc Agreements and MoU 3 min read

India Post Payments Bank signed a MoU with Hindustan Zinc to provide financial inclusion services to its Corporate Social Responsibility (CSR) beneficiaries.

  • Mr Gurusharan Rai Bansal, Chief Sales & Marketing Officer of the India Post Payments Bank and Mr Arun Mishra, CEO of Hindustan Zinc, signed the MoU.  

Objectives of the MoU:

  • This collaboration will ensure a lasting impact on the lives of community beneficiaries around Hindustan Zinc's operational areas.
  • This collaboration will ensure financial support for 3.5 lakh+ beneficiaries covering SHG women, farmers and youth.
  • This will ensure easy access to opening bank accounts, pension products, long-term savings, investment plans etc.

About India Post Payments Bank:

  • India Post Payments Bank (IPPB) has been set up under the Department of Posts, Ministry of Communications, with 100 per cent equity owned by the Government of India. 
  • India Post Payments Bank was launched on September 1, 2018.
  • The Bank was established to create the most accessible, affordable and reliable bank for the common person in India.
  • IPPB provides simple and affordable banking solutions to over 8 crore customers across 5.57 lakh villages and cities in India through an intuitive interface available in 13 languages.
  • Its initial branches were opened in Jharkhand( Ranchi ) and Chhattisgarh  (Raipur). 
  • India's vast postal infrastructure, with 1,55,000 post offices and 3,00,000 postal employees, plays an important role.

About Hindustan Zinc:

  • Hindustan Zinc Limited (HZL) is an integrated Indian mining and processing producer of zinc, lead, silver and cadmium.
  • It is a subsidiary of Vedanta Limited.
  • Hindustan Zinc Limited was established on 10 January 1966.
  • Earlier, it was a central public sector undertaking, which was sold by the government of India to Vedanta Limited in 2003.
  • Headquarters – Udaipur, Rajasthan

FAQ

Ans. Hindustan Zinc

Ans. To promote economic growth and bring financial inclusion in the lives of beneficiaries of rural communities under the CSR programme.

Ans. September 1, 2018.

Ans. Ministry of Communications

Ans. 10 January 1966
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