Connect with us

Hi, what are you looking for?


Customer base of IPPB touches 36 million

India Post Payments Bank said its total customer base has crossed 36 million and it has completed over Rs 385 billion worth of financial transactions cumulatively till 15 September in just 2 years since it started operations. The total number of financial transactions stood at 125 million, its deposits surged by more than 5 times to Rs 15.58 billion from Rs 3.03 billion years and the number and value of bill payment transactions processed have increased by five times to 12.1 million and Rs 2.3 billion respectively. It also said the total number of customers added during the lockdown period is 12.2 million and the top 3 circles in terms of customer additions are Bihar, Uttar Pradesh and Tamil Nadu. The bank has been providing doorstep banking services through AePS in the sealed/containment areas, migrant labor camps and hotspots so that the population affected due toe restrictions imposed do not suffer adversely. Easwaran Venkateswaran, Interim MD & CEO of the bank, said the Aadhaar-enabled Payment System Service has been a game changer of sorts for the bank in expanding access to banking and financial services for millions of poor and unbanked at the last mile with cash being delivered at their doorstep.



Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.