IPPB is one of the largest financial inclusion initiatives globally, leveraging the reach of over 1.64 lakh Post Offices and more than 1.90 lakh Postmen and Gramin Dak Sevaks (GDS).
India Post Payments Bank (IPPB), which is in its eighth year, has carved a position for itself in the banking landscape by delivering inclusive, accessible, and affordable last-mile services. Hundred per cent owned by the Government of India, it functions under the Department of Posts, Ministry of Communication.
IPPB has expanded into end-to-end DBT disbursements, pension payments, credit facilitation through referral tie-ups and insurance and investment products in collaboration with partner institutions. Financial inclusion is not just a vision but a deliverable reality as IPPB has shown, opines Vandita Kaul, Chairperson, IPPB. “With our unique model of postal banking, we have empowered millions of Indians, particularly in rural and underserved regions,” she says.
The Postmen and GDS have become bankers for the common citizen, enabling transactions worth lakhs of crores right at people’s doorsteps, says R Viswesvaran, MD and CEO.
