Koraput: A branch of the India Post Payment Bank (IPPB) will open shortly on the premises of the head post office of Jeypore.

An official said through this, customers would not have to move around for payment or purchase of products because everything would be available under one roof at the IPPB.

"The IPPB officials will carry a high-tech device that will enable them to carry out various financial transactions at the doorsteps of the people. The equipment, a micro-ATM of sorts, will have a biometric reader, a printer and a debit card and credit card reader attached to it," said L.V. Ramana, postmaster of the Jeypore head postoffice.

Also, one can open a bank account under the IPPB and a person can deposit up to Rs 1 lakh in every account.

"Though the IPPB will run from the premises of the post office, separate staff members will be engaged for it. We have provided a separate hall for the IPPB inside the compound and work is on to get it ready. Once, the required infrastructure is ready, the IPPB service will be launched at Jeypore," Ramana said.

"Initially, though the service will be launched only at Jeypore in the district, it could be expanded to other urban areas in the future," he said.

An official said the IPPB would have tie-up with several financial companies and agencies and their fees, premiums and EMIs would be collected from the customers' doorstep.

"Apart from promoting banking services among masses, it will also encourage savings among people," the postmaster said.

The country's first IPPB was opened in Ranchi and Raipur in January 2017. The Centre plans to open one IPPB branch in each district of the country by linking around 1.55 lakh post offices to it.