IPPB launches zero‑balance SHG savings account for women‑led SHGs

What: India Post Payments Bank launched SHG account with zero balance/charges, max balance Rs 2 lakh, quarterly interest (2–2.25%), paperless onboarding via post offices and GDS network; aligned with NRLM and NABARD support.

Significance: Promotes women’s financial inclusion, formal savings, and strengthens SHG livelihoods.

UPSC relevance: Financial inclusion, rural livelihoods and banking outreach.

Practice Q: Assess the potential impact of zero‑balance SHG accounts on women’s economic empowerment in rural India.