Under the Department of Posts of the Ministry of Communications, India Post Payments Bank (IPPB), a 100% government-owned unit of India, has been awarded the Financial Services Department (DFS), the Digital Payment Award 2024-25 for its outstanding contribution in the expansion of digital payment and financial inclusion across the country.
The award was presented by Honorable Central Finance and Corporate Affairs Minister Mrs. Nirmala Sitharaman and Honorable Mr. Pankaj Chaudhary, Minister of State (Finance), and at a ceremony held in New Delhi, IPPB MD and CEO Shri R.K. Visvesvaran and CGM and CSMO of IPPB Mr. Gursharan Rai Bansal received it.
India Post Payments Bank (IPPB) financial Display index for the year 2024-25 In India Pay first place among banks get Did and For financial year 2023-24 ‘Special mention’ Received the award. This jump reflects its unwavering commitment to provide the strong capabilities of IPPB and inclusive, technology-based, civil-centric banking solutions with purpose.
Established aimed at extending financial inclusion on a large scale, IPPB has emerged as one of the largest platforms for digital banking in India, taking advantage of the unmatched access to the postal department’s network. With a strong technology-powered architecture and doorstep banking models run by more than 2 lakh postmen and rural post servants, IPPB has been important in promoting digital payments in the country’s most remote areas.
On this occasion MD and CEO of India Post Payments Bank, Mr. R. Vishwaswaran Said:
“The award is a proof of the tireless efforts of IPPB in making digital financial services accessible, inclusive and reliable. We are honored with this recognition and committed to empower every Indian citizen through innovative and safe digital banking solutions.”
This recognition outlines the mission of IPPB of bridge-free, digitally strong economy as a prominent promoter in the government’s point of view of the urban-rural differences in banking.
About India Post Payments Bank
India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communications, which is owned by 100% equity in the Government of India. The IPPB started on September 1, 2018. The bank has been established with the aim of creating the most accessible, affordable and trusted banks for the common man in India. The basic objective of India Post Payments Bank is to remove obstacles for people deprived of banking services and deprived of low banking services and take advantage of the postal network to reach the end, including ~ 1,65,000 post offices (~ 140,000 in rural areas) and ~ 3,00,000 postal workers.
The reach and its operation of the IPPB is based on the major columns of the Model India Stack-to enable paperless, cashless and attendance-free banking in a simple and safe manner on customers’ doors through CBS-ecclesiast smartphones and biometric devices. Taking advantage of affordable innovation and paying high attention to the ease of banking for the general public, the IPPB provides simple and affordable banking solutions to 11 crore customers in 5.57 lakh villages and towns in India through a spontaneous interface available in 13 languages.
The IPPB is committed to promoting low -cash economy and contributing to Digital India’s vision. India will be rich only when every citizen will get equal opportunity to become financially safe and strong. Our motto is true-every customer is important, every transaction is important and every deposit is valuable.
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www.ippbonline.com , marketing@ippbonline.in
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