{"id":51332,"date":"2025-06-22T16:30:46","date_gmt":"2025-06-22T11:00:46","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=51332"},"modified":"2025-06-23T17:44:21","modified_gmt":"2025-06-23T12:14:21","slug":"india-post-payments-bank","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/india-post-payments-bank\/","title":{"rendered":"India Post Payments Bank"},"content":{"rendered":"<h2><b>India Post Payments Bank Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, India Post Payments Bank (IPPB) has been conferred the prestigious Digital Payments Award 2024-25 by the Department of Financial Services (DFS), Ministry of Finance.<\/span><\/p>\n<h2><b>About India Post Payments Bank<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is a <\/span><b>100% Government of India-owned<\/b><span style=\"font-weight: 400;\"> entity under the Department of Posts, Ministry of Communications.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">IPPB was <\/span><b>launched on September 1, 2018.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bank has been set up with the vision to build the <\/span><b>most accessible, affordable and trusted bank for the common man in India.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked &amp; underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices.<\/span><\/li>\n<\/ul>\n<h2><b>Functions of India Post Payments Bank<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The operations of IPPB will be on a smaller scale as compared to other banks and will <\/span><b>not advance loans or issue credit cards to avoid risk.<\/b><span style=\"font-weight: 400;\">\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It will accept <\/span><b>deposits, offer remittance<\/b><span style=\"font-weight: 400;\"> services, mobile payments\/transfers\/purchases and other banking services like ATM\/debit cards, net banking and third-party fund transfers.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It <\/span><b>will accept deposits<\/b> <b>upto Rs 2 lakh<\/b><span style=\"font-weight: 400;\">, beyond which the account will be automatically converted into a post office savings account.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The products and services of the bank will be made available through various mediums such as counter services, micro ATMs, mobile banking apps, messages, and interactive voice responses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The IPPB will use Aadhaar to open accounts, and a QR card and biometrics will be used for authentication, transactions, and payments.<\/span><\/li>\n<\/ul>\n<p><b>Source:<\/b> <strong><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2138023#:~:text\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India Post Payments Bank is a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications. Read more about India Post Payments Bank, Functions, Latest News<\/p>\n","protected":false},"author":24,"featured_media":51533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[974,21,22,23],"class_list":{"0":"post-51332","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-india-post-payments-bank","9":"tag-prelims-pointers","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/51332","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=51332"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/51332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/51533"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=51332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=51332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=51332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}