India Post Payments Bank signs MoU with Hindustan Zinc

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