About IPPB
India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India. IPPB was launched by the Hon’ble Prime Minister Shri Narendra Modi on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of IPPB is to remove barriers for the unbanked and under-banked and reach the last mile leveraging a network comprising 160,000 post offices (145,000 in rural areas) and 400,000 postal employees. IPPB’s reach and its operating model is built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages. IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered.
Value Propositions
Accessibility:
IPPB leverages the vast postal network of nearly 1.55 lakh post offices and 3.0 lakh postal employees in every district, town and village of the country to serve you. As it continues to expand its services to every doorstep, the Postman becomes your trusted financial servicses advisor, working hard to ensure that you get what you need – be it receiving your money in the fastest way possible, using it at ease for essentials, saving for your loved ones, or even investing for a bright future.
That is what we truly mean when we say – Aapka Bank, Aapke Dwaar.
Approachability:
Last mile delivery of services through the postman – a son of the soil and a friend, philosopher and financial guide to the people.
Ease of banking:
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.
Digital Ecosystem:
IPPB’s 360-degree payments suite creates transparency, removes corruption and leakages and contributes to a less-cash economy. It provides customers with the ability to transact without cash through digital channels and enable small businesses to accept digital payments, thus closing the loop.
Our Aspiration:
India Post Payments Bank is leading the banking revolution as one of the largest financial inclusion networks in India, covering both urban and rural areas. It’s new model of banking aims to enable individuals, small businesses, merchants and others to utilise full-fledged digital banking services. IPPB is paving the way for India’s largest banking network to reach every corner of the nation.
We endeavour to stay true to our motto – ‘Every customer is important, every transaction is significant and every deposit is valuable, no matter the value.