India Post Payments Bank (IPPB) today announced the launch of its Self Help Group (SHG) Savings Account, a dedicated offering aimed at advancing financial inclusion and empowering women-led SHGs across rural India. The Ministry of Communications said that the account will provide a simple, accessible, and zero-cost banking solution that aligns with national priorities of inclusive growth and sustainable livelihoods. Its features include no minimum initial deposit requirement, no monthly average balance requirement, a maximum balance limit of two lakh rupees, no account closure charges and no QR card issuance charges.

 

Speaking about the launch, MD and CEO of IPPB, R Viswesvaran, said that the SHG Savings Account is a step forward in empowering women-led SHGs by providing them with a reliable and cost-effective banking solution. He said that the SHG Savings Account will enable SHGs to participate more actively in the formal financial ecosystem and drive sustainable economic growth.