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2h ago

India Post Payments Bank Tops 12 Crore Customers as Postal Network Builds World’s Largest Doorstep Banking Service

Government leaders highlight a postal-led doorstep model powering digital payments, DBT reach, rural inclusion.

The IPPB’s performance is extraordinary — deposits are now nearing ₹20,000 crore and revenue alone has grown to ₹2,200 crore, with profits amounting to ₹134 crore. (HT Archive)
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Overview

  • The Ministry of Communications confirmed the 12-crore milestone as IPPB marked its eighth foundation day.
  • IPPB operates through more than 1.64 lakh post offices and over 1.90 lakh postmen and GDS, completing over one billion doorstep services.
  • Reported financials include deposits nearing ₹20,000 crore, revenue about ₹2,200 crore, and profits around ₹134 crore.
  • About 80% of customers are from rural areas and 59% of accounts belong to women, with over 5.1 million accounts opened in the Northeast.
  • The bank facilitates India’s largest DBT flow and has processed digital transactions worth ₹13 lakh crore, while rolling out DigiSmart accounts, Premium Aarogya Savings, Aadhaar face authentication, RuPay virtual cards, AePS, cross-border remittances, and Bharat BillPay.