Guwahati: Assam postal authorities on Thursday said the services of India Post Payments Bank (IPPB) would be available in 26 branches and 100 post offices in the state on the day of its launch on Saturday.

The IPPB will be launched by Prime Minister Narendra Modi on Saturday to leverage the reach of 1.55 lakh post offices in the country to provide banking and financial services to rural areas.

The IPPB service would be available in all post offices of the state by December 31, chief postmaster general, Assam circle, Vishvapavan Pati said.

It is aimed at financial inclusion by removing the barriers for the un-banked and under-banked population, he said.

Payments banks can accept deposits of up to Rs 1 lakh per account from individuals and small businesses.

The IPPB will be used by government to distribute NREGA wages, subsidies, pension and so on.

Mobile banking, SMS/missed call banking, Internet banking, interactive voice response (IVR)/call centre and innovative delivery channels, including post office counter and doorstep banking, will also be offered, he said. PTI