Which of the following statements about the India Post Payments Bank (IPPB) is/are correct? 1. It has been incorporated as a Public Limited Company. 2. It started its operation by establishing two pilot branches at Hyderabad and Varanasi. Select the corre

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Q: 55 (CDS-I/2018)

Which of the following statements about the India Post Payments Bank (IPPB) is/are correct?
1. It has been incorporated as a Public Limited Company.
2. It started its operation by establishing two pilot branches at Hyderabad and Varanasi.
Select the correct answer using the code given below.

question_subject: 

Economics

question_exam: 

CDS-I

stats: 

0,54,95,54,15,73,7

keywords: 

{'india post payments bank': [0, 0, 0, 1], 'ippb': [0, 0, 0, 1], 'public limited company': [0, 0, 1, 2], 'hyderabad': [4, 0, 0, 1], 'pilot branches': [0, 0, 0, 1]}

The correct answer is option 1, which means that only statement 1 is correct.

Statement 1 states that the India Post Payments Bank (IPPB) has been incorporated as a Public Limited Company. This means that IPPB operates as a separate entity with limited liability and its shares can be traded publicly. It is a government-owned entity and was established under the Department of Posts, Ministry of Communications, Government of India.

Statement 2, on the other hand, is incorrect. The IPPB did not start its operations by establishing two pilot branches in Hyderabad and Varanasi. In fact, the IPPB started its operations by launching 650 branches and 3,250 access points across the country in September 2018. These branches and access points are spread out in various locations to provide banking services to the underserved and unbanked areas of India.

Therefore, the only correct statement is statement 1, and option 1 is the correct answer.