India Post Payments Bank (IPPB): Salient Features, Facilities and Other Banking service Details

GOVERNMENT OF INDIA

MINISTRY OF COMMUNICATIONS

LOK SABHA

UNSTARRED QUESTION NO: 303 ANSWERED ON: 03.02.2021

India Post Payments Bank

Nihal Chand Chauhan Jaskaur Meena

Will the Minister of COMMUNICATIONS be pleased to state:-

(a) the salient features of India Post Payments Bank (IPPB);

(b) the number of districts included under the said scheme during each of the last three years, State/ UT-wise;

(c) the number of persons covered under IPPB during the same period, district-wise including Dausa district;

(d) the details of the facilities provided by the Government to the IPPB account holders at present; and

(e) the steps taken/being taken by the Government to further facilitate the services for the account holders in future?

ANSWER

MINISTER OF STATE FOR COMMUNICATIONS, EDUCATION AND ELECTRONICS & INFORMATION TECHNOLOGY (SHRI SANJAY DHOTRE)

(a) 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.

(b) IPPB has 650 branches and 1,36,078 banking access points across PAN India. District-wise details of IPPB branches is placed at Annexure- A.

(c) IPPB started its PAN India operations from 01.09.2018. District wise customer base is placed at column no. (d) of Annexure-A. Customer base in Dausa district is 53028.

(d) IPPB offers a comprehensive suite of banking services to its account holders:

Completely paperless and Instant Account Opening

Cash Deposits/ Withdrawal

Money transfers

Utility Bill Payments

Government to Citizen (G2C) Payments including DBT benefit

(e) IPPB is working towards enabling a complete suite of financial services including distribution of Loans, Insurance and Investments at the last mile through 3rd party tie-ups.

Source: Lok Sabha Q and A