New Delhi, June 20 (IANS) India Post Payments Bank (IPPB) has been conferred the ‘Digital Payments Award 2024-25’ in recognition of its outstanding contribution to expanding digital payments and financial inclusion across the country, it was announced on Friday.

The award was presented by Finance Minister Nirmala Sitharaman and Pankaj Chaudhary, MoS Finance, at a ceremony held in the national capital.

India Post Payments Bank (IPPB) achieved 1st position among Payments Banks in India in the Performance Index for Financial Year 2024–25 and received ‘Special Mention’ award for the Financial Year 2023-24.

This leap reflects the IPPB’s robust capabilities and its unwavering commitment to delivering inclusive, technology-led, citizen-centric banking solutions with a purpose.

Established with the vision of driving financial inclusion at scale, IPPB has emerged as one of the largest platforms for digital banking in India, leveraging the unmatched reach of the Department of Posts network.

With a robust tech-driven architecture and a doorstep banking model powered by over 2 lakh Postmen and Gramin Dak Sevaks, IPPB has been pivotal in promoting digital payments even in the remotest parts of the country.

“This award is a testimony to IPPB’s relentless efforts in making digital financial services accessible, inclusive, and trusted. We are honoured by this recognition and remain committed to empowering every Indian citizen through innovative and secure digital banking solutions,” said R. Viswesvaran, MD and CEO, India Post Payments Bank.

This recognition underscores IPPB’s mission to bridge the urban-rural divide in banking and reaffirm its role as a key enabler in the Government’s vision of a cash-light, digitally empowered economy.

IPPB has been established under the Department of Posts, Ministry of Communication with 100 per cent equity owned by the government.

The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked and underbanked and reach the last mile leveraging the Postal network comprising 1,65,000 Post Offices (140,000 in rural areas) and 3,00,000 Postal employees.

IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 crore customers across 5.57 lakh villages and towns.

--IANS

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