HDFC Bank partners with India Post Payments Bank for rural reach

India Post Payments Bank (IPPB) has signed a memorandum of understanding with HDFC Bank to provide banking services in semi-urban and rural areas, primarily focussing on unbanked and underserved segments. This partnership is reportedly expected to benefit over 4.7 crore IPPB customers, of which 90% reside in rural areas. HDFC aims to strengthen its financial inclusion drive with this partnership.