India Post Payments Banks, have become operational at Raipur in Chattisgarh and Ranchi in Jharkhand which were inaugurated by Finance Minister Arun Jaitley and Communication Minister Manoj Sinha from New Delhi through video conferencing this evening. <br/><br/>India post payment bank is the third organization to receive payments bank permit after Bharti Airtel and Paytm. <br/><br/>Addressing media after inauguration, Mr Jaitley said, the arrival of Payments Banks will give a big push and strength to the financial inclusion movement. He also said, the wide network of Post Offices will enable the country to make banking at doorstep a reality. <br/><br/>Speaking on the occasion, Mr Manoj Sinha said, India Post Payments Bank will help realize Prime Minister's dream of digital economy. He said, the India Post Payments Bank will be 100 per cent central government owned public limited company under the department of Post and will open around 650 branches in district headquarters upto September this year.<br/><br/> Mr Sinha said, all 1.55 Lakh post offices including rural post offices will function as access point for India Post Payments Bank. <br/><br/>Our correspondent reports that the post payment bank will focus on providing basic personal services to customers. These include all kind of payments like social security, utility bill, person to person remittances, current and saving accounts upto one lakh rupees. Besides, these payment banks will distribute insurance, mutual funds, pension products and act as business correspondent to other banks specially in rural areas.