Context:
The India Post Payments Bank (IPPB), a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications, has won the Digital Payments Award 2024–25. The award was conferred by the Department of Financial Services (DFS), Ministry of Finance for IPPB’s outstanding contribution in expanding digital payment access and driving financial inclusion across India.
Key Highlights:
- Award: Digital Payments Award 2024–25 by DFS, Ministry of Finance
- Ranked 1st among all Payments Banks in India in the Performance Index for FY 2024–25
- Received a Special Mention award for FY 2023–24
About India Post Payments Bank (IPPB)
- Launch Date: September 1, 2018
- Ownership: 100% equity held by Government of India
- Parent Ministry: Department of Posts, Ministry of Communications
- Digital Banking Languages: Services offered in 13 Indian languages
- Coverage: Reaches 11 crore customers across 5.57 lakh villages and towns
Mission: To promote inclusive digital banking and make banking services accessible, simple, and affordable for underserved and unbanked populations.
