India Post Payments Bank creates milestone record of 8 crore customers
India Post Payments Bank has reached the milestone of 8 crore customers, said Easwaran Venkateswaran, MD & CEO (Interim) and COO of IPPB.
india Jan 15 2024
Author: Aishwarya Nair Image Credits:X/IPPB
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Establishment of IPPB
IPPB was established strategically to bridge financial gaps, empower the underserved, and promote financial inclusion through a mix of traditional and digital banking services.
Image credits: Getty
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IPPB's pivotal role
IPPB has been instrumental in enabling people from a variety of backgrounds, including those who live in remote and deprived places.
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100 per cent equity owned by Govt of India
IPPB has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India.
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When was IPPB established?
IPPB was launched on September 1, 2018, with the vision to build the most accessible, affordable and trusted bank for the common man in India.
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Fundamental mandate of IPPB
IPPB aims to eliminate barriers for the unbanked & underbanked, reaching the last mile through its extensive network of 155,000 Post Offices & 300,000 Postal employees.