Current Affairs · Banking Schemes & IPPB
Which of the following statements regarding the India Post Payments Bank (IPPB) Self Help Group (SHG) Savings Account is INCORRECT?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is a zero balance account that requires no Monthly Average Balance (MAB).
- 2It offers one free physical account statement per month and has nil charges for cash deposits.
- 3It provides half-yearly interest pay-outs as per applicable savings rates.✓
- 4It has a maximum balance limit of ₹2,00,000 and requires no minimum initial deposit.
Correct answer
It provides half-yearly interest pay-outs as per applicable savings rates.
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