{"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":"2026-09-02T12:57:58","modified_gmt":"2026-09-02T07:27:58","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, the India Post Payments Bank celebrated its 9th Foundation Day.<\/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 has been established under the <\/span><b>Department of Posts, Ministry of Communication<\/b><span style=\"font-weight: 400;\">, with <\/span><b>100% equity owned by the Government of India<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It was launched on <\/span><b>September 1, 2018.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It has been set up with the vision to build the <\/span><b>most accessible, affordable and trusted bank<\/b><span style=\"font-weight: 400;\"> for the common man in India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mandate:<\/b><span style=\"font-weight: 400;\"> The fundamental mandate of this bank is to remove barriers for the <\/span><b>unbanked and underbanked and reach the last mile<\/b><span style=\"font-weight: 400;\">, leveraging the Postal network.<\/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 operation of IPPB is smaller as compared to other banks and <\/span><b>will not advance loans or issue credit cards to avoid risk.\u00a0<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It <\/span><b>accepts deposits<\/b><span style=\"font-weight: 400;\">, <\/span><b>offers remittance services,<\/b><span style=\"font-weight: 400;\"> mobile payments\/transfers\/purchases and other <\/span><b>banking services like ATM\/debit cards,<\/b><span style=\"font-weight: 400;\"> 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>accepts deposits upto Rs 2 lakh,<\/b><span style=\"font-weight: 400;\"> beyond which the account will be automatically converted into a <\/span><b>post office savings account.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The products and services of the bank are made available through various mediums such as <\/span><b>counter services, micro ATMs, mobile banking apps,<\/b><span style=\"font-weight: 400;\"> messages, and interactive voice responses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The IPPB uses <\/span><b>Aadhaar to open accounts,<\/b><span style=\"font-weight: 400;\"> 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=2305689&amp;reg=48&amp;lang=1&amp;fg\" target=\"_blank\" rel=\"nofollow noopener\">PIB<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India Post Payments Bank has been established under the Department of Posts, Ministry of Communication, with 100% equity owned by the Government of India.<\/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],"class_list":["post-51332","post","type-post","status-publish","format-standard","has-post-thumbnail","category-upsc-prelims-current-affairs","tag-india-post-payments-bank","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":3,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/51332\/revisions"}],"predecessor-version":[{"id":122448,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/51332\/revisions\/122448"}],"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}]}}