Over 10 Crore IPPB Accounts In India, ‘Only One Payments Bank’: Ministry
There is only one payments bank, India Post Payments Bank (IPPB), set up under Department of Posts and the bank has 650 branches and over 1.63 lakh access points through the post office network, Minister of State for Communications and Rural Development Dr Pemmasani Chandra Sekhar informed the Parliament today. IPPB has a total of 10,54,75,014 accounts, he added.
The minister was answering to questions asked by Lok Sabha MPs Kota Srinivasa Poojary, Gyaneshwar Patil, Ravindra Dattaram Waikar, Delkar Kalaben Mohanbhai and Bhumare Sandipanrao Asaram.
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The minister said IPPB is offering a range of services and products such as savings and current accounts, Virtual Debit Card, Domestic Money Transfer services, bill and utility payments, insurance services for IPPB customers, Post Office Savings Account (POSA) linkage with IPPB accounts, online payment for Post Office Savings schemes, Digital Life Certificate (DLC), Aadhaar Enabled Payment System (AePS), mobile number update in Aadhaar for any citizen and Child Enrolment services for any child of 0-5 years old.
“IPPB’s branded signage has been installed across all Post offices to inform the public about the availability of IPPB services. Department of Posts and IPPB regularly conduct camps for popularising IPPB products and services, particularly in rural areas. Various awareness and media campaigns are run through visual and print media, radio jingles and social media,” the minister said.
“Expansion in access to Government schemes like payments to Direct Benefits Transfer (DBT) beneficiaries, issue of Digital Life Certificates and mobile number update in Aadhaar is enabled at the doorstep through IPPB’s handheld mobile devices,” he added.
