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India Post Payments Bank honoured with Digital Payments Award

Published: Jun 21, 2025

By TIOLCorplaws News Service

NEW DELHI, JUNE 21, 2025: INDIA Post Payments Bank (IPPB), a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications, has been conferred the prestigious Digital Payments Award 2024-25 by the Department of Financial Services (DFS), Ministry of Finance, in recognition of its outstanding contribution to expanding digital payments and financial inclusion across the country.

The award was presented by the Hon'ble Union Minister of Finance & Corporate Affairs, Nirmala Sitharaman & Hon'ble Pankaj Chaudhary, MoS (Finance), and was received by R. Viswesvaran, MD & CEO, IPPB, & Gursharan Rai Bansal CGM & CSMO, IPPB at a ceremony held in New Delhi.

India Post Payments Bank (IPPB) achieved 1st Position among Payments Banks in India in the Performance Index for Financial Year 2024-25 & received 'Special Mention' award for the Financial Year 2023-24. This leap reflects the IPPB's robust capabilities and its unwavering commitment to delivering inclusive, technology-led, citizen-centric banking solutions with a purpose.

Established with the vision of driving financial inclusion at scale, IPPB has emerged as one of the largest platforms for digital banking in India, leveraging the unmatched reach of the Department of Posts network. With a robust tech-driven architecture and a doorstep banking model powered by over 2 lakh Postmen and Gramin Dak Sevaks, IPPB has been pivotal in promoting digital payments even in the remotest parts of the country.

Speaking on the occasion, Mr. R. Viswesvaran, MD & CEO, India Post Payments Bank said:

"This award is a testimony to IPPB's relentless efforts in making digital financial services accessible, inclusive, and trusted. We are honoured by this recognition and remain committed to empowering every Indian citizen through innovative and secure digital banking solutions."

This recognition underscores IPPB's mission to bridge the urban-rural divide in banking and reaffirm its role as a key enabler in the Government's vision of a cash-light, digitally empowered economy.

About India Post Payments Bank

India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched on September 1, 2018. The bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked & underbanked and reach the last mile leveraging the Postal network comprising ~1,65,000 Post Offices (~140,000 in rural areas) and ~3,00,000 Postal employees.

IPPB's reach and its operating model is built on the key pillars of India Stack - enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at the customers' doorstep, through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to 11 Crore customers across 5.57 lakh villages & towns in India.

IPPB is committed to provide a fillip to a less cash economy and contribute to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. Our motto stands true - Every customer is important, every transaction is significant and every deposit is valuable.

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