India Post Payments Bank (IPPB) is a Indian government-owned payments bank. Which is operating under the Department of Posts, Ministry of Communications. Launched on September 1, 2018, for providing accessible, affordable, and reliable banking services, especially in rural and underserved areas of India.
Key Features of IPPB
Indian Government Ownership:
100% owned by the Government of India.
Network:
Utilizes India’s vast postal network, which includes over 1.55 lakh post offices, of which 1.35 lakh are in rural areas.
Supported by postal employees who act as banking service providers.
Focus on Financial Ease:
Designed to bring formal banking system.
Digital and Paperless Banking:
Provides user-friendly mobile banking services.
Offers ease banking services for customers.
Services Offered by IPPB
Banking Accounts:
Savings Account: Zero balance savings accounts with interest on deposits.
Current Account: Designed for small businesses.
Money Transfer:
Facilitates domestic money transfers through NEFT, IMPS, and RTGS.
Bill Payments and Recharges:
Mobile recharges, utility bill payments, and DTH recharge services.
Insurance and Pension Products:
Collaborates with leading insurance companies to provide life and general insurance.
Promotes government schemes like Atal Pension Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana.
Government Schemes:
Supports schemes like Public Provident Fund (PPF) and Sukanya Samriddhi Yojana.
QR Code Payments:
Facilitates payments through QR codes using the IPPB mobile app.
Doorstep Banking:
Provides cash deposit, withdrawal, and account opening services at the customer’s doorstep.
Benefits of IPPB
Accessibility: Reaches even the remotest areas through its wide postal network.
Ease of Use: Simple and paperless banking processes.
Affordable Services: Minimal charges for transactions and banking facilities.
Digital Integration: Enables UPI payments and mobile-based banking.
How to Open an Account with IPPB
Visit your nearest post office.
Carry necessary documents:
Aadhaar Card (for KYC verification).
PAN Card or Current Electricity Bill.
Fill out the account opening form.
Alternatively, you can download the IPPB mobile app and initiate the process online.
Contact Information
Website: www.ippbonline.com
Customer Care Number: 155299 (available 24×7)
India Post Payments Bank filling the gap between urban and rural banking, ensuring that every citizen of India can benefit from the financial ecosystem.