India Post Payments Bank Marks 8 Years, Reaches Over 12 Cr Customers

India Post Payments Bank (IPPB) has completed eight years of service, having on-boarded more than 12 crore customers, processed billions of digital transactions, and provided doorstep banking services across India, the government said on Wednesday.

Launched in 2018, IPPB has emerged as one of the world’s largest financial inclusion initiatives, leveraging the extensive network of over 1.64 lakh Post Offices and a workforce of more than 1.90 lakh Postmen and Gramin Dak Sevaks (GDS). The bank was set up with the aim of creating an accessible, affordable, and trusted banking solution for all citizens.

According to the Ministry of Communications, IPPB has expanded its services to include end-to-end Direct Benefit Transfer (DBT) disbursements, pension payments, credit facilitation through partner tie-ups, and insurance and investment products. Innovative offerings such as DigiSmart, the Premium Aarogya Savings Account, and Aadhaar-based Face Authentication have further enhanced customer convenience and digital accessibility.

The Ministry added that the bank’s integration of the RuPay Virtual Debit Card, Aadhaar-enabled Payment Services (AePS), cross-border remittances, and Bharat BillPay has strengthened its position as a comprehensive financial services provider at the grassroots level.

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