INDIA POST PAYMENT BANK
India Post Payments Bank
(IPPB) was
setup under the Department of Post, Ministry of Communication with 100% equity
owned by Government of India. IPPB was launched as a pilot project on 30
January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh), with the
objective of being present across India by the FY 2018-2019. Now IPPB has
expanded its strength across India through a network of one Branch and
649 Banking outlets manned by Business Correspondents, working on a
hub and spoke model. IPPB is leveraging the vast postal network of
nearly 1.55 lakh post offices and 3.0 lakh postal employees across the country
and thus present in every town and village of the country to serve
the customers.
IPPB Products
India Post Payments Bank (IPPB)
has tailor-made banking products to serve the needs of all types of
customers as listed below:
|
DEPOSITS |
- Savings Account |
|
MONEY TRANSFER |
- Simple & Secure |
|
DIRECT BENEFITS TRANSFERS |
- MGNREGA |
|
THIRD PARTY PRODUCTS |
- Loans |
|
BILL & UTILITY PAYMENTS |
- Mobile and DTH recharge |
|
ENTERPRISE AND MERCHANT PAYMENTS |
- Postal products |
IPPB continue to expand its services to
every doorstep by ensuring Last mile delivery of services through
the postman – a son of the soil and a friend, philosopher and financial guide
to the people. IPPB integrates easily with the existing bouquet of
post office services, extends the services though a frictionless
shift. The last mile delivery agent is empowered with financial knowledge and
intuitively designed digital tools to offer financial services and guidance
with relative ease.
Postal Savings Bank Customers can link their SB account to IPPB account and avail the facility of Sweep In and Sweep Out for fund transfer between SB and IPPB account. Through IPPB account, a variety of digital transactions like Utility Bills Payments, UPI payments , Scan and Pay at merchants outlets, Direct benefit transfer, payment of insurance premia, deposits to Postal Savings Bank products, Door-step banking, SMS banking, Miss-call banking, Mobile banking, Phone banking, Digital Life Certificate, CELC service, Domestic Money Transfer, Savings Account, Current Account, QR Card, Virtual debit card, renewal of Vehicle insurance, Loan referral services, Aadhar enabled withdrawals from any bank account at the doorstep of the customers etc are provided to the customers.
