India Post Payments Bank (IPPB)

Overview

India Post Payments Bank (IPPB) is Indian government India Post Payments Bank + Ministry of Communications India Post Department of Posts fully owned + ~90M+ IPPB customers + ~150,000+ India Post + Department of Posts retail outlets nationwide + India's largest banking points network ^{1, India report}.

History

Aug 2015 — RBI grants in-principle Payments Bank licenses to 11 entities including India Post.

Jan 30 2017 — IPPB pilot launch in Raipur + Ranchi.

Sep 1 2018 — India Post Payments Bank IPPB officially launched nationwide by Prime Minister Narendra Modi as Indian government India Post Payments Bank distinctive Indian payments banking heritage.

Ownership & operator

Operating entity: India Post Payments Bank IPPB (Indian government India Post Payments Bank).

Major shareholders: Government of India (Ministry of Communications + Department of Posts) fully owned.

Regulators: RBI.

Technical integration

IPPB mobile app (iOS + Android; ~90M+ IPPB customers) + ippbonline.com online + ~150,000+ India Post + Department of Posts retail outlets nationwide (India's largest banking points network) + IPPB Visa + Mastercard + RuPay cards; UPI + BharatQR + IMPS + RuPay + Aadhaar-Enabled Payment System AePS; max balance Rs 2 lakh per customer under Payments Bank framework.

Implementations & partners

Major Indian payments bank + payments competitors: Airtel Payments Bank (Airtel Payments Bank; India's #1 Payments Bank by customers + India's first Payments Bank; ~70M+ Indian customers) + Paytm Payments Bank (Paytm Payments Bank; Mar 15 2024 RBI operational shutdown for non-compliance) + Fino Payments Bank (Fino Payments Bank; BSE: 543386 + NSE: FINOPB; Indian payments bank) + Jio Payments Bank (Jio Payments Bank; Reliance Jio + SBI JV Indian payments bank) + NSDL Payments Bank (NSDL Payments Bank; NSDL Indian depository payments bank) + PhonePe (PhonePe; Walmart Flipkart subsidiary; India's largest UPI wallet by transactions) + Google Pay (Google Pay India; India's #2 UPI wallet by transactions) + Paytm (Paytm; BSE: 543396 + NSE: PAYTM; Indian super-app wallet) + Amazon Pay (India) (Amazon Pay India; Indian wallet by Amazon).

Regulator: RBI.

Status

Active, Indian government India Post Payments Bank + Ministry of Communications India Post Department of Posts fully owned + ~90M+ IPPB customers + ~150,000+ India Post + Department of Posts retail outlets nationwide + India's largest banking points network ^{1, 2}.

Sources

• 1 IPPB — official
• 2 India Post Payments Bank — Wikipedia
• ^{India report} In-corpus: reports/countries/IN-india.md

Source

Biography extracted from india-post-payments-bank.md. See matrix.md for standards-support matrix if present.