India Post Payments Bank (IPPB) has celebrated its 8th Foundation Day, also known as IPPB Day, highlighting its journey of providing inclusive, accessible, and affordable banking services across the country.
Since its launch, IPPB has become one of the largest financial inclusion initiatives in the world, using the reach of more than 1.64 lakh Post Offices and more than 1.90 lakh Postmen and Gramin Dak Sevaks (GDS). The bank has onboarded over 12 crore customers, processed billions of digital transactions, and delivered doorstep banking services to people in rural, semi urban, and remote regions.
In recent years, IPPB has introduced several innovations. It has expanded into direct benefit transfer disbursements, pension payments, credit facilitation through referral partnerships, and insurance and investment products with the help of partner institutions. New services like DigiSmart Digital Savings Accounts, Premium Aarogya Savings Account with healthcare benefits, and Aadhaar based Face Authentication have brought more convenience and digital accessibility to customers. The RuPay Virtual Debit Card, Aadhaar enabled Payment Services (AePS), cross border remittances, and Bharat BillPay integration have already made IPPB a comprehensive financial services provider at the grassroots.
Ms Vandita Kaul, Chairman, IPPB, said, “IPPB has demonstrated that financial inclusion is not just a vision but a deliverable reality. With our unique model of postal banking, we have empowered millions of Indians, particularly in rural and underserved regions, by taking banking to their doorsteps. Our journey sets a global benchmark for last mile financial service delivery. This 8th Foundation Day is even more special as IPPB has crossed the 12 Crore Customer milestone.”
Shri R. Viswesvaran, MD and CEO, IPPB, added, “On our 8th Foundation Day, we reflect with pride on IPPB’s role in reshaping access to financial services for over 12 crore customers. Our Postmen and GDS have become bankers for the common citizen, enabling transactions worth lakhs of crores right at people’s doorsteps. With the addition of digital payments and various customer centric services, we are building a robust and inclusive financial ecosystem. The future of banking is at the last mile, and IPPB is leading that change.”
Over the years, IPPB has not only improved the lives of citizens but also increased the visibility and impact of the Department of Posts both in India and abroad. By combining trust, technology, and reach, IPPB continues to transform how a bank can become an agent of social and economic progress.
On this occasion, IPPB reaffirmed its commitment to advancing financial inclusion and building a future where “every Indian has access to banking anytime, anywhere, at their doorstep.”
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
