Payment banks: India post payment bank is the largest payment bank in theworld-An analytical study

In this paper an attempt has been made to study the world's largest Payment Bank in Indian banking system with the inclusion of new age bank, i.e., India Post Payment Bank. To reach out the rural & urban areas of the country Reserve bank of India on 19th Aug-2015 approved 11 payments banks to help those who are not a part of formal banking system of India. IPPB is one of the 11 payment banks of India, will be considered as panacea for rural as well as migrating people. This paper will reflect the fundamentals of payment banks and challenges for it.