New Delhi: The digital premium payment facility for Postal Life Insurance and Rural Postal Life Insurance through India Post Payments Bank (IPPB) Mobile Banking App, at the doorstep with the help of Gramin Dak Sevaks, the postman and at the post office counters was launched by Vineet Pandey, Secretary, Department of Posts, here today.
IPPB will be offering new products like loan referrals and Cash Management Services soon. It will also work towards unlocking potential IPPB-POSA linkage for seamless customer service.
It may be mentioned that the IPPB was launched by Prime Minister Narendra Modi on September 1, 2018, 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 banking solutions through intuitive interfaces available in 13 languages. IPPB stated it was 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. IPPB’s motto says – Every customer is important; every transaction is significant, and every deposit is valuable.
Working on the vision of ‘One Nation One service Platform’ J. Venkatramu, MD & CEO, IPPB shared his idea of serving the current 50 million and the next billion customers on basis of their life cycle need with the Products and services offerings from both DoP and IPPB.
IPPB, it may be mentioned, 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 Prime Minister 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. IPPB’s motto stands true – Every customer is important; every transaction is significant, and every deposit is valuable.
– global bihari bureau
