Which of the following statements are true about the India Post Payments Bank IPPB IPPB was set up i...........

Indian Economic System(HCS) Money and banking

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Which of the following statements are true about the India Post Payments Bank (IPPB)?

IPPB was set up in 2016.
IPPB got incorporated as a Public Limited Company with 100 percent GOI equity under Department of Posts.
Post Office Savings Bank products primarily focus on encouraging digital payments and remittance whereas IPPB primarily aim at savings.
Services launched by IPPB include Life and General Insurance, Digital Life Certificate, Domestic Money Transfer.

1, 2 and 3 only

2, 3 and 4 only

1, 2 and 4 only

1, 3 and 4 only

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Explanation:

- Statement 1: True. IPPB was set up in 2016 as a part of the Government of India's drive to promote digital banking and financial inclusion.

- Statement 2: True. IPPB was incorporated as a Public Limited Company under the Department of Posts, with 100% equity owned by the Government of India.

- Statement 3: False. IPPB primarily focuses on digital payments, remittances, and financial inclusions, whereas Post Office Savings Banks traditionally aim at savings and deposit products.

- Statement 4: True. Services offered by IPPB include various offerings like Life and General Insurance, Digital Life Certificate, and Domestic Money Transfer.

- Correct Option: Option 3, 1, 2 and 4 only