Indian public sector payments bank
India Post Payments Bank (IPPB ) is an Indianstate-owned payment bank , headquartered inNew delhi ,India . It is adivision ofIndia Post that is under theownership of theDepartment of Post , a department under theMinistry of Communications of theGovernment of India . Opened in 2018, as of August 2025, the bank has more than 120 million customers.[ 1] [ 2]
A postage stamp released during the launch of India Post Payments Bank in 2017. On 19 August 2015,India Post received a license to run a payments bank from theReserve Bank of India . On 17 August 2016, it was registered as a public limited government company for setting up apayments bank .[ 3] Department of Posts under theMinistry of Communications .[ 3] [ 4]
The pilot project of IPPB was inaugurated on 30 January 2017 atRaipur andRanchi .[ 3] Union Cabinet approved the cost of Rs. 14.35 billion for setting up the bank.[ 5] [ 6] [ 7] [ 8] [ 9] [ 10] [ 11] [ 2]
IPPB branch at the Head Post Office inMehsana IPPB aims to utilize all of India's 155,015 post offices as access points and 300,000 postmen andGrameen Dak Sewak s to provide doorstep banking services.[ 3] [ 4]
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.
IPPB offers savings accounts, money transfer[ 12] [ 3] [ 13] [ 14]
The bank also provides features like:
IPPB has been allowed to link around 170 million postal savings bank (PSB) accounts with its accounts.[ 15]
^ "India Post Payments Bank Celebrates Milestone Achievement of Eight Crore Customers!" .pib.gov.in . Retrieved18 January 2024 .^a b Desk, Editorial (27 August 2025)."India Post Payments Bank Crosses 12 Cr Customers, Rs 20,000 Cr Deposits" . Retrieved29 August 2025 . {{cite web }}:|last= has generic name (help )^a b c d e "About IPPB - IPPB" .ippbonline.com . Retrieved5 September 2018 .^a b "All you want to know about...India Post Payment Bank" .@businessline . Retrieved5 September 2018 .^ Press Information Bureau."Cabinet approves Revised Cost Estimate for setting up of India Post Payments Bank" .pib.nic.in . Retrieved5 September 2018 . ^ "India Post Payments Bank launched: Some important facts about IPPB" .dna . Retrieved5 September 2018 .^ Agarwal, Nikhil (4 September 2018)."India Post Payments Bank replaces ATM/debit cards with QR cards. How to use them" .Livemint . Retrieved5 September 2018 . ^ Sharma, Devansh (20 August 2018)."Your friendly neighbourhood postman is about to become a banker" .The Economic Times . Retrieved5 September 2018 . ^ Sengupta, Devina; Singh, Karunjit (31 August 2018)."Government expects India post payments bank to be profitable after 2 years: Communications minister Manoj Sinha" .The Economic Times . Retrieved5 September 2018 . ^ "India Post Payments Bank adds 2.48 crore customers in a year" . September 2020.^ "IPPB Recruitment Online Application Enables for Specialist Officer category" . 10 January 2025. Retrieved20 January 2025 .^ Ghoshal, Sudeshna (19 June 2024)."IPPB ties with Ria Money Transfer to set up 25,000 centres; eyes Southern states for international remittance | Mint" .mint .Archived from the original on 18 July 2024. Retrieved20 January 2025 . ^ Gupta, Komal (3 September 2018)."Explained: India Post Payments Bank, in 5 points" .Livemint . Retrieved5 September 2018 . ^ "India Post Payments Bank will deliver banking services to every Indian's doorstep, says PM Modi" .www.businesstoday.in . Retrieved27 September 2018 .^ Livemint (31 August 2018)."India Post Payments Bank launched: 10 things to know" .Mint . Retrieved27 September 2018 .
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