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India Post Payments Bank: banking, jobs, contact

Posted By: Admin
September 30, 2022 |

Check IPPB online banking process, IPPB net banking registration, IPPB mobile banking registration, Toll Free Number

India Post Payments Bank: India’s Prime minister Mr. Narendra Modi launched the India Post Payment Bank on 1^st September 2018. India Post Payment Bank (IPPB) is a payment bank which is launched under the financial inclusion mission of the government of India. The government of India wants to utilize the India Post presence across the country. Aim of launching India Post Payment Bank is to provide doorstep banking to the people of India. Since its launch, India post payment bank is always in news due to some or the other reason. As expected the IPPB is growing very rapidly with support from the government of India and bank’s competitive strength i.e. it’s reach to rural areas.

Owner of India Post Payment Bank

India Post Payment Bank is wholly owned by the Indian Postal Department. Government of India has 100% stake in India Post Payment Bank. The bank was launched with a vision of building the most affordable, accessible, and trusted bank for the common man. Also, driving the agenda of financial inclusion for the under-banked population will be governed by RBI.

Primary focus of India Post Payment Bank

The primary focus of India Post Payment Bank is to cater low-income households banking needs, social sector beneficiaries, unorganized sector, migrant laborers, Micro Small and Medium Enterprises, and Panchayats in rural areas. The focus India Post Payment Bank also includes under-banked and unbanked segments in both the urban and rural areas.

How can India Post Payment Bank help in providing banking facilities more conveniently?

The Indian Postal Department has a huge network of branches in rural areas of India. Alone India Post is having more than 150,000 branches which is three times of all bank’s branches in rural areas. All the 3,00,000 employees of India Post Payment Bank have biometric devices through which they can open accounts, withdraw money, and update the details of bank accounts. This facility makes the India Post Payment Bank employees to conveniently deliver banking service that too at the doorstep of villagers.

The India Post Payment Bank can also help in reducing exploitation to villagers by money lenders and grab the opportunity to its fold. Almost every 2^nd person in rural areas borrow money from domestic lenders which cost them selling their assets at cheap rates or giving hard earned money in interest, while the principal amount remains as it was. The India Post Payment Bank can tap the segment by providing categorised loans specially designed for rural areas. The loan segment has a huge opportunity for India Post Payment Bank. The India Post Payment Bank may help increase rural per capita income through domestic savings by tapping the savings of rural people

Services offered by India Post Payment Bank

The bank is offering almost all basic services of banking to all the people belonging to city as well as rural areas. The main services offered by the India Post Payment Bank are listed below –

Doorstep banking facility which offers services including IPPB account opening, cash deposits and withdrawals, money transfers, recharge and bill payments, third-party services like insurance, loans, investments and other account-related services.
Updating PAN and nomination details, requesting account statements, and issuing standing instructions.
RTGS, IMPS and NEFT services for the transfer of funds.
Update digital life certificate
Child Enrolment Lite Client (CELC) to provide facilities like child enrolment, update mobile number and Aadhaar search.
Linkage of Post office saving account and India Post Payment Bank account.
Sweep-in and Sweep-out service can be availed through assisted channels like Doorstep Service and Access Point besides the self- service through IPPB Mobile App

India Post Payment Bank special features

As the aim of the government of India of launching India Post Payment Bank is to provide services to rural areas, the products and features of India Post Payment Bank justify the purpose. See the list of some features –

The India Post Payment Bank provides three types of savings accounts, which are regular, digital and basic saving accounts.
There is no fee for withdrawals made from IPPB ATM or PNB ATM.
The bank offers 4% interest rate in all the savings accounts.
India Post Payment Bank Forex services.
No need to maintain a minimum quarterly average balance and no charges for the lack of a minimum account balance.
QR card service to help access bank accounts and make transactions without remembering their account number.
Authenticate transactions using the QR card via biometric verification.
Free debit card with an annual maintenance fee of Rs. 100/- from the second year.
India Post Payment Bank third-party products like loans and insurance.
Opening of digital savings accounts, using Aadhar and PAN cards. However, the KYC formalities for such accounts must be completed within 12 months.

Steps taken by India Post Payment Bank to enhance its presence in industry –

India Post Payment Bank has faced a lot of challenges in delivering banking services to customers. Some of which are revenue deficit, investment 75% of total demand deposits in government-linked securities and treasury bills as per RBI rules, lack of tech-infrastructure in the country’s remotest rural areas, infrastructure. The India Post Payment Bank has taken these challenges seriously and continuously taking steps to overcome the hurdles. We have mentioned the steps below –

To overcome the revenue deficit, it has started selling application forms of educational institutions and recruitment agencies, railway ticket booking, facilities for Aadhar registration and upgradation, passport services, sovereign gold bond schemes, etc.
Providing all training and equipment to the India Post employees to beat all the odds.
India Post Payment Bank is also shifting to e-commerce.
India Post Payment bank has made Tie-ups with Punjab National Bank, PNB Metlife, Bajaj Allianz, microblogging platform Koo, National Payments Corporation of India’s (NPCI) bill payments system Bharat BillPay, HDFC Bank etc. to provide financial services, insurance, fund transfer facility, Increase number of ATMs.

Digital presence of India Post Payment Bank

The IPPB has launched its mobile banking app for its customers. Customers can click on India Post Payment Bank Android App Download Link or India Post Payment Bank IOS App Download Link to install the IPPB mobile banking app.

How to register for India Post Payment Bank internet banking

Customers need to follow the steps given below for India Post Payment Bank internet banking registration. A customer needs to have his registered Mobile number (mandatory) linked to the customer’s account to activate IPPB net banking.

Steps to register IPPB online banking

Enter Saving/Current Account Number
Enter ATM Debit Card number or Date of Birth
Provide Registered Mobile Number and Customer ID/CIF
You will receive an OTP (One Time Password) on registered mobile number
Now enter OTP (One Time Password) sent to registered mobile number
Now you have to select rights whether you want to only view the account details only or full rights to transact.
Now set the password

A customer of IPPB can complete the registration by following these steps for India Post Payment Bank internet banking.

Services offered by IPPB net banking

Almost all the banking facilities are available on internet banking of India Post Payment bank. You can see the list below –

Balance inquiry
Statement
Cheque Book Request
Stop Cheque Request
Fund Transfer (Within Bank)
Fund Transfer (Interbank i.e. NEFT, RTGS)
IMPS
UPI
Bill Payments
Utility Payments
DTH Recharge
Electricity Payments
Water Bill Payments
Supports Bharat QR
Doorstep Banking Request

India Post payment Bank Customer Care number

For queries or complaints a customer can Dial 155299 (Charges apply as per your telecom plan).

For reporting unauthorized transactions or blocking debit card, you can dial toll free number of India Post Payment Bank 1800 8899 860

You can also send a mail to India Post Payment bank email Id contact@ippbonline.in

How to apply for India Post Payment Bank Jobs

Click on the official link of India Post Payment Bank recruitment 2022 to see https://www.ippbonline.com/web/ippb/current-openings. IPPB has issued guidelines to prevent candidates from job scam, every candidate should apply only on the official website of India Post Payment Bank.

Why should students read about Indian Post Payment Bank?

The topic of IPPB holds relevance in all competitive exams. As IPPB is a government initiative there are greater chances that at least 1-2 questions related to IPPB are asked in the exams like Bank exams, SSC, RRB and other Government exams.

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