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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]
The Department of Posts, d/b/a India Post, is an Indian public sector postal system statutory body headquartered in New Delhi, India. It is an organisation under the Ministry of Communications . Generally known as the Post Office , it is the most widely distributed postal system in the world, and India is the country that has the largest number ...
Know your customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
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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]
In July 2016, FinCEN enacted new rules regarding beneficial ownership: [2] Financial institutions must collect from the legal entity customer the name, date of birth, address, and social security number or other government identification number (passport number or other similar information in the case of foreign persons) for individuals who own ...
GM's CFO told investors the company has changed its business strategy to withstand market volatility and a new presidential administration.
The East India Company took constructive steps to improve the existing postal systems in India when, in 1688, they opened a post office in Bombay followed by similar ones in Calcutta and Madras. Lord Clive further expanded the services in 1766 and in 1774 Warren Hastings made the services available to the general public.