Business

India Post Payments Bank’s customer base crosses 5 crore mark

India Post Payments Bank, IPPB, has crossed the five-crore customer mark in just 3 years of commencement of its operations to become one of the fastest growing digital payments bank in the country. Announcing this achievement on Tuesday, the bank said that it has opened up these five crore accounts in digital and paperless mode through its one lakh 36 thousand Post Offices.

Out of these post offices, one lakh 20 thousand are in rural areas. About one lakh 47 thousand doorstep banking service providers helped in opening up of these accounts. 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 two lakh 80 thousand Post Office employees.

IPPB has further stated that it has taken digital banking to the grassroots levels through Interoperable Payments and Settlement Systems of NPCI, RBI and UIDAI offering services in over 13 languages.

Interestingly, out of the total account holders, around 48 per cent were women account holders that indicated the Bank’s focus on bringing the women customers under the banking network.

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