Koraput: A branch of the India Post Payment Bank (IPPB) will be opened at the head post offices in Koraput, Malkangiri, Nabarangpur and Rayagada districts under Jeypore postal circle on September 1 as a part of the national-level programme.

Once the IPPB branch comes up, people of these district headquarter towns would no longer have to go to various offices and branches for payment or purchase of products, as all such services would be available under one roof in the IPPB.

The IPPB officials, usually the postmen of the locality concerned, will carry a high-tech device that will enable them to carry various financial transactions at the doorstep of people.

"The equipment, a micro-ATM of sorts, will have a biometric reader, a printer and a debit and credit card reader attached to it," said senior superintendent of posts, Jeypore postal circle, S.N. Panda.

"One can avail the services by opening a zero balance IPPB account," he added.

Panda said that at least five access points in five panchayats each of the four districts have been identified where the IPPB service would be launched in the first phase. The service would subsequently be expanded to other areas of the districts.

The IPPB will function under the department of posts and separate banking staff have been recruited for it.

The IPPB will have tie-ups with several financial companies and agencies and their fees, premiums, money transfers and monthly instalments will be collected from the customers at their doorstep.

"Apart from promoting banking services among masses, it will also encourage savings among people and the entire process will be paperless," the officer said.

The country's first IPPB was opened at Ranchi in Jharkhand and Raipur in Chhattisgarh in January 2017 on a pilot basis.