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India Post Payments Bank, abbreviated as IPPB, is a division of India Post that is under the ownership of the Department of Post, a department under the Ministry of Communications of the Government of India. Opened in 2018, as of March 2024, the bank has more than 9 crore customers. [1]
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Since India became independent in 1947, the postal service continues to function on a nationwide basis, providing a variety of services. The structure of the organization has the directorate at its apex; below it are circle offices, regional offices, the superintendent's offices, head post offices, sub-post offices and branch offices.
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With a view to provide focused attention and enable development of techno-banking in the country, the institute has promoted a new Section 8 company named The Indian Financial Technology and Allied Services (IFTAS). Headquartered in Mumbai, the mandate of the IFTAS is to provide IT-related services to the RBI, banks and other financial ...
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The Bill aims to modernize India Post and expand its services, concerns regarding privacy, accountability, and centralization.. Features of the Bill: Modernization and Expansion: The bill envisions a transformed India Post, venturing beyond traditional mail delivery to offer financial services like banking and insurance, and playing a bigger role in e-commerce delivery.
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