India Post Payments Bank (IPPB) today celebrated its 8th Foundation Day, also known as IPPB Day, reaffirming its commitment to providing inclusive, accessible and affordable banking services at the last mile.
Since its launch in 2018, IPPB has become one of the world’s largest financial inclusion initiatives, leveraging the reach of over 1.64 lakh post offices and 1.90 lakh Postmen and Gramin Dak Sevaks (GDS). The Bank has on-boarded more than 12 crore customers, processed billions of digital transactions, and delivered doorstep banking across rural, semi-urban and remote regions.
In recent years, IPPB has expanded into areas such as direct benefit transfer disbursements, pension payments, credit facilitation, and insurance and investment products in partnership with institutions. New services like DigiSmart digital savings accounts, Premium Aarogya Savings Account, Aadhaar-based face authentication, RuPay virtual debit card, AePS-enabled payments, cross-border remittances and Bharat BillPay integration have enhanced customer convenience.
Speaking on the occasion, IPPB Chairman Vandita Kaul said the Bank has demonstrated that financial inclusion is a deliverable reality. She noted that by bringing banking to people’s doorsteps, IPPB has empowered millions in rural and underserved regions, setting a global benchmark for last-mile financial services.
MD & CEO R. Viswesvaran said IPPB has redefined access to banking for over 12 crore customers, with Postmen and GDS acting as bankers for citizens and enabling transactions worth lakhs of crores. He added that the Bank is building a robust, inclusive financial ecosystem where the future of banking lies at the last mile.