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A recurring deposit is a special kind of term deposit in India that is offered by Indian banks and India Post which helps people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits. [1] [2]
India Post Payments Bank, abbreviated as IPPB, is a division of India Post that is under the ownership of the Department of Post, a department under the Ministry of Communications of the Government of India. Opened in 2018, as of March 2024, the bank has more than 9 crore customers. [1]
A Post Box of India Post A special stamp released on India Post Payments Bank in 2017. The Postal Index Number (PIN, or sometimes redundantly PIN code) is a six-digit postal code. The PIN system was made by Shriram Bhikaji Velankar when he was at service in Kolkata. It was introduced on 15 August 1972 by former Prime Minister Indira Gandhi.
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [ 1 ] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
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The functions of the subsidiary are governed by the provisions of 'The Deposit Insurance and Credit Guarantee Corporation Act, 1961' (DICGC Act) and 'The Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961' framed by the Reserve Bank of India in exercise of the powers conferred by sub-section (3) of Section 50 of the Act.
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