India Post Payments Bank (IPPB) | CDFI

India Post Payments Bank
(IPPB)

India Post Payments Bank (IPPB)

Support to Department of Post for setting up their Payments Bank

The financial inclusion space in India has been undergoing a major shift over the past few years. To bring closer to the rural and underserved sections of the society, the Reserve Bank of India enabled the Payments Banks model has been conceptualised and enabled by the Reserve Bank of India..

India Post Payments Bank (IPPB), which is owned 100% by Department of Post (DoP), is one among the 11 entities who received the Payments Bank license from RBI. Leveraging the department’s network of 155,000 post offices, reach (over 110 million existing account holders), and resources (over 300,000 postmen and gramin dak sewaks ), IPPB aims to deliver simple, low-cost, quality financial services at the doorstep to its customers in rural areas all over the country. IPPB will have 650 branches and 155,000 access points in a hub and spoke model covering 129,000 rural areas and 25,000 urban areas.

CDFI has been engaged with Department of Post since 2015 for providing strategic and program management support in IPPB rollout. CDFI is assisting DoP in the domains of regulatory compliance, organizational design, human resources, preparation of training modules & schedules, branch layout designs, etc through expert resources and researchers. CDFI has also developed a web based tracker platform for monitoring rollout of branches and access points including deployment of infrastructure, resources and facilities.

The platform has been launched with over 800 users at central, circle and branch levels. The tracker assists in monitoring rollout activities of 650 branches and 155,000 access points in various phases offering snapshots of implementation progress at micro and macro levels.

Blogs

  • Understanding Financial Inclusion Models- Part I of V

    Understanding Financial Inclusion Models- Part I of V

    07 Dec 2016

    Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services to meet their needs – transactions, payments, savings, credit and insurance- delivered in a responsible and sustainable manner.

  • Payments Banks: Instruments of Financial Inclusion

    Payments Banks: Instruments of Financial Inclusion

    22 Sep 2015

    With the grant of licences to eleven companies to run new Payments Banks (Aug 19), the much anticipated differentiated banking regime in India has now commenced.

  • Steps towards financial inclusion

    Steps towards financial inclusion

    17 Feb 2016

    The Reserve Bank of India has granted in-principle approval licenses to 11 entities to set up Payments Banks. This licensing round marks a tectonic shift in the banking industry of India, with a differentiated licensing regime being introduced for the very first time.