- The India Post Payments Bank (IPPB), a ‘Digital-First Bank’ has announced that it has crossed the five-crore customer mark in 3 years of commencement of operations to become one of the fastest growing digital payments bank in the country.
- IPPB opened up these five crore accounts in digital and paperless mode through its 1.36 lakh Post Offices, out of which 1.20 lakh are in rural areas with the help of about 1.47 lakhs doorstep banking service providers.
- With this, IPPB has achieved the world’s largest digital financial literacy programme by building a financially aware and empowered customer-base leveraging the strength of 2,80,000 Post Office employees.
- India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India.
- IPPB was launched by the Prime Minister Shri Narendra Modi on September 1, 2018.
