https://indianpedia.org/index.php?action=history&feed=atom&title=India_Post_Payments_BankIndia Post Payments Bank - Revision history2026-07-31T06:09:47ZRevision history for this page on the wikiMediaWiki 1.45.4https://indianpedia.org/index.php?title=India_Post_Payments_Bank&diff=411198&oldid=prevCleanupBot II at 13:44, 14 August 20232023-08-14T13:44:16Z<p></p>
<p><b>New page</b></p><div>{{short description|Indian public sector payments bank}}<br />
{{Use dmy dates|date=October 2015}}<br />
{{Use Indian English|date=October 2015}}<br />
{{Infobox company<br />
| name = India Post Payments Bank<br />
| logo = India Post Payments Bank logo.png<br />
| type = Division of [[Indian Post]]<br />
| industry = [[Financial services]]<br />
| fate = <br />
| predecessor = <!-- or: | predecessors = --><br />
| successor = <!-- or: | successors = --><br />
| founded = {{Start date and age|2018|09|01|df=y}}<br />
| founder = <!-- or: | founders = --><br />
| defunct = <!-- {{End date|YYYY|MM|DD}} --><br />
| hq_location_city = [[New Delhi]]<br />
| hq_location_country = India<br />
| area_served = India<br />
| key_people = *Pradeep Kumar Bisoi , [[Indian Postal Service]]<br> {{small|(Secretary, Department of Post)}}<br />
*J Venkatramu , [[Indian Postal Service]] <br> {{small|(MD & CEO)}}<br />
| products = [[Banking]]<br />
| services = Financial Services<br />
| owner = <br />
| num_employees = <br />
| num_employees_year = <!-- Year of num_employees data (if known) --><br />
| parent = [[Indian Post]] <br />
| website = {{URL|https://ippbonline.com/}}<br />
}}<br />
<br />
'''India Post Payments Bank''' (IPPB) is a division of [[Indian Post]] and a [[payments bank]] from India operated by the [[India Post]]. Opened in 2018, the bank had acquired about 4.0 crore customers by December 2020.<br />
<br />
==History==<br />
[[File:India Post Payments Bank 2017 stamp.jpg|thumb|A postage stamp released during the launch of India Post Payments Bank in 2017.]]<br />
On 19 August 2015, the [[India Post]] received licence to run a payments bank from the [[Reserve Bank of India]]. On 17 August 2016, it was registered as a public limited government company for setting up a [[payments bank]].<ref name=":0">{{Cite web|title=About IPPB - IPPB|url=https://ippbonline.com/web/ippb/about-us1|access-date=2018-09-05|website=ippbonline.com}}</ref> IPPB is operating with the [[Department of Posts]] under [[Ministry of Communications (India)|Ministry of Communications]].<ref name=":0" /><ref name=":1">{{Cite news|title=All you want to know about...India Post Payment Bank|work=@businessline|url=https://www.thehindubusinessline.com/opinion/columns/slate/all-you-want-to-know-about/article24856746.ece|access-date=2018-09-05}}</ref><br />
<br />
The pilot project of IPPB was inaugurated on 30 January 2017 at [[Raipur]] and [[Ranchi]].<ref name=":0" /> In August 2018, the [[Union cabinet|Union Cabinet]] approved a cost of {{INRConvert|1435|c}} for setting up the bank.<ref>{{Cite web|url=http://pib.nic.in/PressReleseDetail.aspx?PRID=1544217|title=Cabinet approves Revised Cost Estimate for setting up of India Post Payments Bank|last=Press Information Bureau|website=pib.nic.in|access-date=2018-09-05}}</ref> The first phase of the bank with 650 branches and 3,250 post offices as access points was inaugurated on 1 September 2018.<ref>{{Cite news|title=India Post Payments Bank launched: Some important facts about IPPB|work=dna|url=https://www.dnaindia.com/business/photo-gallery-india-post-payments-bank-launched-some-important-facts-about-ippb-2657993|access-date=2018-09-05}}</ref><ref>{{Cite news|last=Agarwal|first=Nikhil|date=2018-09-04|title=India Post Payments Bank replaces ATM/debit cards with QR cards. How to use them|work=Livemint|url=https://www.livemint.com/Money/Dw9KVmmOnVvh7V6w7ttn9K/India-Post-Payment-Bank-ippb-app-ATM-debit-cards-QR-cards.html|access-date=2018-09-05}}</ref> Over ten thousand postmen have been roped into the first phase.<ref>{{Cite news|last=Sharma|first=Devansh|date=2018-08-20|title=Your friendly neighbourhood postman is about to become a banker|work=The Economic Times|url=https://economictimes.indiatimes.com/news/et-explains/your-friendly-neighbourhood-postman-is-about-to-become-a-banker/articleshow/65451533.cms|access-date=2018-09-05}}</ref><ref>{{Cite news|last=Sengupta|first=Devina|last2=Singh|first2=Karunjit|date=2018-08-31|title=Government expects India post payments bank to be profitable after 2 years: Communications minister Manoj Sinha|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/government-expects-india-post-payments-bank-to-be-profitable-after-2-years-communications-minister-manoj-sinha/articleshow/65616188.cms|access-date=2018-09-05}}</ref> By September 2020, the bank had acquired about 3.5 crore customers.<ref>https://www.financialexpress.com/industry/banking-finance/india-post-payments-bank-adds-2-48-crore-customers-in-a-year/2070771/</ref><br />
<br />
==Services==<br />
[[File:Post Office Headquarters Mehsana India Post Payments Bank .jpg|thumb|IPPB branch at the Head Post Office in [[Mehsana]]|left]]IPPB aims to utilize all of India's 155,015 post offices as access points and 3 lakh postal postmen and ''Grameen Dak Sewak''s to provide doorstep banking services.<ref name=":0" /><ref name=":1" />{{Multiple image<br />
| align = <br />
| direction = vertical<br />
| width =<br />
| image1 = The Prime Minister, Shri Narendra Modi addressing at the launch of the India Post Payments Bank, in New Delhi on September 01, 2018.JPG<br />
| caption1 = <br />
| image2 = The Prime Minister, Shri Narendra Modi at the launch of the India Post Payments Bank, in New Delhi (2).JPG<br />
| caption2 = <br />
| footer = The Prime Minister of India, [[Narendra Modi]], at the launch of the India Post Payments Bank, in New Delhi on 1 September 2018. The Minister of State for Communications (I/C) [[Manoj Sinha]], the Secretary (Post), Ananta Narayan Nanda and IPPB CEO and MD. Suresh Sethi are also seen.<br />
}}<br />
IPPB offers savings accounts, money transfer and insurances through the third parties, bill and utility payments.<ref name=":0"/><ref>{{Cite news|url=https://www.livemint.com/Industry/J2dr9UXU2KbyGwpe1ATGrM/Explained-India-Post-Payments-Bank-in-5-points.html|title=Explained: India Post Payments Bank, in 5 points|last=Gupta|first=Komal|date=2018-09-03|work=Livemint|access-date=2018-09-05}}</ref><ref>{{Cite web|url=https://www.businesstoday.in/sectors/banks/india-post-payments-bank-launch-banking-services-pm-narendra-modi/story/281868.html|title=India Post Payments Bank will deliver banking services to every Indian's doorstep, says PM Modi|website=www.businesstoday.in|access-date=2018-09-27}}</ref><br />
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* Account: The bank offers [[Savings account|savings]] and [[Current account (banking)|current account]]s up to a balance of {{INR|1 Lakh}}.<br />
* QR Card: Customers can use [[QR code payment]]s eliminating the need to remember account numbers, PINs and passwords.<br />
* [[Unified Payments Interface]]<br />
* [[Immediate Payment Service]]<br />
* [[National Electronic Funds Transfer]]<br />
* [[Real-time gross settlement]]<br />
* [[Bharat BillPay]]<br />
* [[Direct Benefit Transfer]]<br />
<br />
IPPB has been allowed to link around 17 crore postal savings bank (PSB) accounts with its accounts.<ref>{{Cite news|url=https://www.livemint.com/Industry/0ZCVVXLyO8E9W3DPLodsqK/India-Post-Payments-Bank-launch-tomorrow-10-things-to-know.html|title=India Post Payments Bank launched: 10 things to know|last=Livemint|date=2018-08-31|work=Mint|access-date=2018-09-27}}</ref><br />
<br />
== See also==<br />
<br />
* [[Payments bank]]<br />
* [[Poste italiane]]<br />
<br />
==References==<br />
{{reflist|2}}<br />
{{Indian PSU}}<br />
{{Banking in India}}<br />
{{Ministry of Communications (India)}}<br />
<br />
==External links==<br />
* [https://play.google.com/store/apps/details?id=com.iexceed.appzillon.ippbMB IPPB Android App ]<br />
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{{DEFAULTSORT:Postal Bank of India}}<br />
[[Category:Government-owned banks of India]]<br />
[[Category:Payments banks]]<br />
[[Category:Indian companies established in 2018]]<br />
[[Category:Banks established in 2018]]<br />
[[Category:Companies based in New Delhi]]<br />
[[Category:Postal savings system]]<br />
[[Category:2018 establishments in Delhi]]</div>CleanupBot II