India Post Payments Bank (IPPB) is a scheduled payment bank offering a range of products such as savings and current accounts, remittances and money transfer, direct benefit transfer, bill and utility payments, enterprise & merchant payments and Aadhar Enabled Payment System (AePS). These products and related services are being offered across multiple channels e.g. Counter Services, Micro – ATM, Mobile Banking App, SMS and IVR and at the doorstep.
The funds are allocated by Department of Posts to IPPB centrally not State/UT-wise. The details of funds released to IPPB since inception are as under –
|Financial Year||Funds Sanctioned
(In `. crore)
(In `. crore)
(In `. crore)
State/Union Territory-wise IPPB achievement are placed at Annexure – I.
Services provided by IPPB to their subscribers are placed at Annexure – II.
Presently IPPB under Department of Posts has 650 branches and 1.37 lakh banking access points through Post Offices network PAN India. New facilities are added as per the customer’s requirements from time to time.
|State/Union Territory||Total Accounts|
|ANDAMAN AND NICOBAR ISLANDS||2,275|
|DADRA AND NAGAR HAVELI||27,155|
|JAMMU AND KASHMIR||1,62,958|
Uttar Pradesh Branch Wise performance
|Branch Name||Total Accounts|
|AGRA FORT BRANCH||2,10,085|
|KANPUR DEHAT BRANCH||47,684|
|AMBEDKAR NAGAR BRANCH||90,697|
|UP BALRAMPUR BRANCH||1,20,109|
|UP HAMIRPUR BRANCH||50,814|
|MUZAFFAR NAGAR BRANCH||99,466|
|TETARI BAZAR BRANCH||1,03,360|
Annexure – II
Services provided by IPPB:
The Department of Posts has set up India Post Payments Bank (IPPB) in the year 2018, which has enabled 1.38 lakh Post Offices to provide Banking services and has equipped nearly 1.9 lakh Postmen and Gramin Dak Sevaks with a smartphone and biometric device to provide doorstep banking Services including:
- Paperless & Instant account opening
- Savings accounts for citizens including Aadhaar Seeding for DBT (Direct Benefit Transfer) beneficiaries
- Current Accounts for merchants
- Virtual Debit Card
- Cash Deposit/ Cash Withdrawal services
- Domestic Money Transfer services – Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), Unified Payment Interface (UPI)
- Bill Payment services – Bill payment of utility bills, (Direct-to-Home) DTH/Mobile recharges, EMI (Equated Monthly Instalment) payments, insurance etc.
- Insurance services for IPPB customers – Life, Health, Vehicle insurance & Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)
- Post Office Savings Account (POSA) linkage with IPPB accounts
- Online Payment for Post Office Savings schemes – Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSA), Recurring Deposit (RD)
- Digital Life Certificate (DLC) services – Facilitate submission of DLC for any pensioners of central/state/ Employees Provident Fund Organisation (EPFO)
- Aadhaar based services – Mobile Number update in Aadhaar for any citizen and Child Enrolment services for any child (0 – 5-year-old)
- Cash Management services – Collection of dues from customers of corporates/ government bodies
This information was given by the Minister of State for Communications, Shri Devusinh Chauhan in a written reply to a question in Lok Sabha