Ahmedabad: India Post Payments Bank (IPPB), an undertaking of the Department of Posts, marked its 7th Foundation Day with a special program at the Ahmedabad General Post Office (GPO). Postmaster General of the North Gujarat Region, Shri Krishna Kumar Yadav, led the celebrations, highlighting the bank’s significant role in promoting financial inclusion and digital banking in rural areas under the “Aapka Bank, Aapke Dwar” initiative.
Yadav, accompanied by IPPB’s Independent Director Jayshree Vrajlal Doshi, AGM Dr. Rajeev Awasthi, Chief Manager Kapil Mantri, and Chief Postmaster Ritul Gandhi, inaugurated the event by cutting a celebratory cake and honoring officials for their exceptional performance within the IPPB network. Reflecting on IPPB’s six-year journey, Yadav emphasized its pivotal role in delivering various public welfare schemes of the Central and State Governments to the remotest areas of society.
Launched nationwide by Prime Minister Narendra Modi on September 1, 2018, IPPB has expanded its footprint considerably. In Gujarat alone, more than 33 lakh accounts have been opened. In the current financial year, IPPB has provided general insurance to 1.19 lakh people, facilitated mobile updates for 1.80 lakh individuals, and enrolled 2,571 children in Aadhaar through its CELC service. The bank has also enabled Direct Benefit Transfer (DBT) payments of ₹242 crore to more than 15 lakh people in the state.
Yadav praised the efforts of postmen and Gramin Dak Sevaks, who have become mobile banks through IPPB’s services. He highlighted the convenience offered by IPPB, stating, “IPPB has reshaped the banking landscape by providing paperless, cashless, and presentless banking facilities at the doorstep, even in remote areas.” The bank’s target market comprises some of the most financially excluded and vulnerable sections of society, and through innovative, user-friendly interfaces, it has enabled assisted banking at the last mile.
One of the key highlights of IPPB’s success has been its role in women’s empowerment, with 44% of its customers being women. “This demonstrates IPPB’s critical role in empowering women financially,” said Yadav. He also noted that the bank’s services, including Aadhaar enrollments for children, digital life certificates, bill payments, and various insurance schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, are now available at customers’ doorsteps via postmen.
Additionally, IPPB customers can make online deposits in Sukanya Samriddhi Yojana, Recurring Deposits (RD), Public Provident Fund (PPF), and Postal Life Insurance through the bank.
Speaking at the event, IPPB AGM Dr. Rajeev Awasthi reaffirmed the bank’s commitment to providing comprehensive financial solutions through the extensive and trustworthy network of the Department of Posts. He lauded IPPB’s role in bridging the financial gap for underserved communities, particularly those without easy access to insurance and other financial services.
As IPPB celebrates its 7th year, it continues to expand its services, ensuring that even the most remote and financially excluded communities have access to essential banking services, thereby contributing to the larger goals of financial inclusion and the Digital India mission.
