SchemesFriday, 1 May 2026·The Hindu
IPPB launches SHG Savings Account for women-led rural groups
India Post Payments Bank launched a zero-balance SHG Savings Account on 30 April 2026 with doorstep banking support through the postal network.
Key highlights
Direct fact
In April 2026, India Post Payments Bank (IPPB) launched a dedicated Self Help Group (SHG) Savings Account under the Department of Posts, Ministry of Communications, with zero balance and doorstep banking support through postmen and Gramin Dak Sevaks.
Key specifics
- Launched on 30 April 2026 by IPPB under the Department of Posts, Ministry of Communications.
- Designed for women-led SHGs in rural India and linked to financial inclusion goals.
- Zero balance account with no minimum initial deposit and no Monthly Average Balance (MAB).
- Maximum balance limit fixed at ₹2,00,000, with interest paid quarterly.
- Nil charges for cash deposits, withdrawals and account closures; free QR card issuance.
Exam lens
Question type: scheme and institution match-the-following, IPPB, Department of Posts, zero balance, ₹2,00,000 cap, quarterly interest; TNPSC may ask which bank launched a special SHG account and what the balance limit is.