Postal Department discuss ways to deepen the Financial Inclusion drive and provide banking solutions to every citizen of India
Two days meeting of senior functionaries of the Postal Department and India Post payments Bank (IPPB), AAROHAN 4.0 started in Shimla. The agenda of the meeting is to discuss and deliberate ways to further deepen the Financial Inclusion drive in the country and to provide banking solutions to every citizen of India. Postal Department along with IPPB is working on the vision of the Prime Minister’s Digital India initiative to promote digital payments and bring digital banking services to every nook and corner of the country in a customer-friendly manner.
IPPB leverages upon the world’s largest postal network of the Department of Posts to offer interoperable banking services at the doorstep benefiting senior citizens, farmers, migrant labourers and women amongst others. The meeting was inaugurated by Shri. Alok Sharma, Director General Postal Services in presence of Shri J Venkatramu, MD & CEO of IPPB, Chief PMG of 23 Postal Circles and other senior functionaries of the Department and IPPB. Discussions were held today to further strengthen the synergy between the post office and IPPB operations.
About India Post Payments Bank India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India. IPPB was launched by the Hon’ble Prime Minister Shri Narendra Modi on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India.
The fundamental mandate of IPPB is to remove barriers for the unbanked and under-banked and reach the last mile by leveraging a network comprising 160,000 post offices (145,000 in rural areas) and 400,000 postal employees. IPPB’s reach and its operating model are built on the key pillars of India Stack – enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers’ doorstep, through a CBS-integrated smartphone and biometric device.
Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages. IPPB is committed to providing a fillip to a less-cash economy and contributing to the vision of Digital India. India will prosper when every citizen will have an equal opportunity to become financially secure and empowered. Our motto stands true – Every customer is important; every transaction is significant, and every deposit is valuable.
For further information on IPPB, visit www.ippbonline.com
Disclaimer : This is an official press release by PIB.