UNIVERSITY OF MUMBAI

MAHATAMA EDUCATION SOCIETY’S

PILLAI HOC INSTITUTE OF MANAGEMENT STUDIES AND RESEARCH RASAYANI-

410207

INTERNSHIP REPORT
A.Y. 2022-23

SUBMITTED IN PARTIAL FULFILLMENT OF

MASTERS IN MANAGEMENT STUDIES

SPECIALIZATION: FINANCE

TOPIC: STUDY AND ANALYSIS OF DIGITAL BANKING AND INSURANCE

SUBMITTED BY: SANISHKUMAR SHIVAJI MAHATO

Roll No: 51

UNDER THE GUIDANCE OF

Professor Name:

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 DECLARATION

I hereby declare that the Summer Internship Report submitted for the MMS Degree Program at
Pillai HOC Institute of Management Studies & Research (Affiliated to University of Mumbai) is
my original work and is conducted in (Company Name: INDIA POST PAYMENT BANK
PANVEL).

Place: Mumbai

Date:

Signature of the Student

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 CERTIFICATE

This is to certify that the Summer Internship Report is the bonafide internship work, carried out
by Mr. SANISHKUMAR SHIVAJI MAHATO, student of MMS program, at Pillai HOC Institute
of Management Studies & Research (Affiliated to University of Mumbai) during the period of
May 2023 to June 2023, in partial fulfillment of the requirements for the award of the Degree of
Master in Management Studies.

Place: Mumbai
Signature of Student
Date:

Signature of Internal Guide Signature of External Examiner

College seal Signature of Director

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4
 ACKNOWLEDGEMENT
I wish to express my gratitude to Ms. POONAM JHA, from the INDIA POST PAYMENT
BANK for providing me valuable information and guidance.

I am grateful to Pillai HOC Institute of Management Studies & Research for giving me an
opportunity to pursue MMS program. I wish to thank Dr. Pradeep Chatterjjee, Director, Pillai
HOC Institute of Management Studies & Research who has been a perpetual source of
inspiration and offered valuable suggestions.

I am indebted to my Guide (Professor; XXXXXXXXX), Pillai HOC Institute of Management

Studies & Research, for providing guidance, support, and encouragement throughout my
internship Study.

I would like to express my thanks to all people from the INDIA POST PAYMENT BANK for
their support and guidance from time to time during my internship program.

Place: Mumbai
Date:

Signature of the student

Mr. SANISHKUMAR SHIVAJI MAHATO

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 TABLE OF CONTENTS
SR. NO. INDEX PAGE NO.

1 TITLE 2

2 CONSENT LETTER 4
DECLARATION
3 5
CERTIFICATE
4 6

5 ACKNOWLEDGMENT 7
ORGANIZATION PROFILE
6 9
VISION AND MISSION
7 10
IPPB HIGHLIGHTS
8 11
OFFERINGS OF IPPB
9 12
ACCESSIBILITY
10 13
NETWORK
11 14
CUSTOMER SEGMENTS
12 15
DIVERSIFIED PRODUCT SUITE
13 16
OUT REACH
14 17
PRODUCTS & TIE-UPS
15 18-19
CUSTOMER SERVICE
16 20

17 WORK RESPONSIBILITIES DURING INTERNSHIP 21-22

SKILLS ACQUIRE DURING INTERNSHIP
18 23

18 CONCLUSION 24

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 ORGANIZATION PROFILE
INDIA POST PAYMENT BANK

At India Post Payments Bank, they believe that a nation can grow when every citizen has an
opportunity to prosper, regardless of their way of life. With simple, diverse and growth-oriented
offerings, IPPB aims to provide every household in India an access to efficient banking services
and enable them to become financially secure and empowered.
India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of
Communication with 100% equity owned by Government of India. IPPB was launched as a pilot
project on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh), with the objective
of being present across India by the FY 2018-2019. IPPB has expanded its strength across India
covering post offices, through a network one Branch and 649 Banking outlets manned by
Business Correspondents, working on a hub and spoke model.

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VISION AND MISSION

8
IPPB HIGHLIGHTS

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 OFFERINGS OF IPPB

- Savings Account
DEPOSITS
- Current Account
- Simple & Secure
MONEY TRANSFER - Instant
- 24x7
- MGNREGA
DIRECT BENEFITS TRANSFERS - Scholarships
- Social welfare benefits and other Government subsidies
- Loans
- Insurance
THIRD PARTY PRODUCTS
- Investments
- Post Office Savings schemes
- Mobile and DTH recharge
BILL & UTILITY PAYMENTS - Electricity, water & gas bills
- Donations & insurance premiums
- Postal products
ENTERPRISE AND MERCHANT - Digital Payment of e-commerce delivery (COD)
PAYMENTS - Small merchants/kirana stores/unorganized retail
- Offline payments
- Cash Management Services

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 ACCESSIBILITY
IPPB will be leveraging the vast postal network of nearly 1.55 lakh post offices and 3.0 lakh
postal employees in every district, town and village of the country to serve you. As we continue
to expand their services to every doorstep, their postman will become your trusted financial
services advisor, working hard to ensure that you get what you need - be it receiving your money
in the fastest way possible, using it at ease for essentials, saving for your loved ones, or even
investing for a bright future. For us, every customer is important, every transactionis
significant, and every deposit is valuable no matter what the value.
That is what we truly mean when we say – Aapka Bank, Aapke Dwaar.
Approachability:
Last mile delivery of services through the postman – a son of the soil and a friend, philosopher
and financial guide to the people.

Ease of banking:
IPPB integrates easily with the existing bouquet of post office services, extends the
services though a frictionless shift.
The last mile delivery agent is empowered with financial knowledge and intuitively designed
digital tools to offer financial services and guidance with relative ease.

Digital Ecosystem:

 Macro Level
IPPB’s 360-degree payments suite creates transparency, removes corruption and leakages
and contributes to a less-cash economy.

 Individual Level
Provides customers with the ability to transact without cash through digital channels and
enable small businesses to accept digital payments, thus closing the loop.

Their Aspiration: Your Financial Empowerment

 Wealth grows from wealth – even small savings can go a long way towards ensuring a
better future
 Securing the unsecured – small investments and insurance to protect you against
unforeseen events
 Ensuring financial freedom – money in your hands whenever you need it

India Post Payments Bank is gearing up to lead the next revolution of banking as one of the
largest financial inclusion networks in India, covering both urban and rural areas. Their new
model of banking aims to enable individuals, small businesses, merchants and others to utilise

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full-fledged digital banking services. We are paving the way for India's largest banking network
to reach every corner of the nation.
We endeavour to stay true to their motto -
‘Every customer is important, every transaction is significant and every deposit is valuable,
no matter the value

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 NETWORK
IPPB provides simple and efficient banking solutions by providing access to all its customers
through its digital and mobile platforms. We leverage a nation-wide distribution network of the
Department of Posts – one of the largest postal services in the world – to bring assisted banking
services within the reach of every Indian, both rural and urban.
CURRENT OPERATIONAL STRENGTH

 One controlling branch and 649 Banking outlets (~one banking outlet in every district)
 1,36,078 Post Offices across urban and rural India, activated as banking access points
 22,251 Head Post Offices and Sub Post Offices across urban and rural India to deliver
banking services
 2 Lacs+ Postmen/GDS to provide Doorstep banking services

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 CUSTOMER SEGMENTS
IPPB is committed to serving the financial and banking needs of its customers. Keeping the
customer at the centre of everything we do, their wide range of products and services are aimed
at creating value and a delightful experience for them. Their easy-to-use, efficient, secure and
intuitive solutions are driven by the emerging needs of Bharat and Urban India. In response to
the evolving business environment & ecosystem, IPPB always strives to be ahead of the curve
and meet the ambitions and aspirations of its customers. Their customers come from different
corners of the country and all walks of life. While a significant

proportion of them are from rural area, many have never possibly visited a bank or had a savings
account before. With India Post’s legacy of serving the nation for over 150 years combined with
the last mile connect of the trusted local ‘Dakiya’, this is now very much possible. Whether it’s
farmers, senior citizens, specially abled persons, kirana store owners, students or housewives,
IPPB has been able to make a difference in their lives by not only bringing banking services at
their doorstep but also creating an ecosystem that promotes and supports inclusive growth.

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DIVERSIFIED PRODUCT SUITE

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OUT REACH
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With a diversified geographical footprint that covers the entire length and breadth of the country,
India Post Payments Bank addresses the banking and financial needs of over 5 crore customers
in 37 states/union territories currently. With the proliferation of digital technologies, India’s
financial services landscape is undergoing transformation at a speed and scale that has not been
witnessed before. Combining an unparalleled & robust network of 650 branches and over
136,000 banking access points, IPPB wants to be at the forefront of this transformation through
its expansive physical presence & digital capabilities, and deploying innovative ways to take
banking to the last mile.

PRODUCTS & TIE-UPS

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1) Mobile number updation in Aadhaar & Child enrolment– Aadhaar linked mobile number
is being increasingly used to provide various services to the citizens. Thus there is a great
demand in the field for the same. Updating the same at the Aadhaar enrolment center takes time
due to the rush at such centers that caters to all the other Aadhaar related services. IPPB provides
this facility of updating the mobile number in Aadhaar in a paperless mode through biometric
authentication through a ‘CELC’ mobile app provided by UIDAI. The service is available at the
Post Offices or through the Postmen at the doorstep. The app also allows enrolment of children
below 5 years of age in Aadhaar and issuing them an Aadhaar number. Thus the enrolment of
children in Aadhaar can be done with ease at the doorstep and an Aadhaar card can be issued to
them early.

2) General Insurance (GI) products

(a) Motor Insurance- Two Wheeler and Four Wheeler –
(i) Motor Insurance (2 Wheeler & 4 Wheeler) sales is done through the trained and certified
Point of Sale Persons (POSPs).
(ii) Only Non-commercial Vehicles can be insured. (Vehicles with yellow Number plate cannot
be insured)
(iii) The sale of insurance products will be through the assisted mode in Micro ATM
(iv)These products are designed to cover the risk to vehicles, damage to a third party & personal
accident coverage in varying combinations.
(b) Health Insurance- Bank is offering Health Insurance (Medicare) of Tata American
International Group (TATA AIG) & Family Health Care Gold of Bajaj Allianz General Insurance
Co. Ltd (BAGIC) through GI POSP Certified assisted Sales Channel. It offers medical coverage
to the policyholder(s) for medical expenses incurred in case of a health emergency arising out of
sickness or injury and includes different medical expenses including surgical, day-care and
critical illness and even OPD expenses depending upon Policy terms.expenses including surgical,
day-care and critical illness and even OPD expenses depending upon Policy terms

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3) IPPB BBPS platform for customers and non-customers for cash based payment (mATM
and CBS) - With this service we are able to facilitate bill payments in cash from anyone at their
doorstep and at their access points for all billers which are available on NPCI’s BBPS Platform.
Now we are able to service Bill Payments for “ALL CITIZENS” regardless of whether they are
IPPB account holders or not. This service will benefit the customers who are not digitally savvy
and wish to pay their bills in cash.

4) Strategic Engagement- IPPB had engaged with multiple Institutions like Employee
Provident Fund Organization (EPFO), various Port Trusts across the country and Defense
Service Pensioners Association for facilitating Digital Life Certificate to pensioners at their
doorstep. India Post Payments Bank has entered into an

MoU with Ministry of Health and Family Welfare for opening accounts of beneficiaries of the
Nischay Poshan scheme.

India Post Payments Bank has entered into an MoU with Ministry of Health and Family Welfare
for opening accounts of beneficiaries of the Nischay Poshan scheme.

5) IPPB had enrolled with UIDAI as a registrar, to facilitate Mobile Number update and Child
enrolment through Child Enrolment Lite Client(CELC) application for rendering service to
common masses through IPPB delivery channel. IPPB has touched more than 3.06 Crore citizens
in FY 21-22 for mobile number update and has been able to enroll more than 5.52 lac children on
to Aadhaar

6) Facilitating credit services to IPPB Customer base- IPPB with the restriction on extending
credit facility to its customers has engaged with multiple NBFCs & Scheduled Commercial
banks for generating Credit products leads.

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7) Extending Cash Management Services(CMS)- IPPB with an aim to become a preferred
partner for collections across all post offices had signed Receivable Management MOU with
Shriram City Union Finance Limited, DTDC Express Limited, Aadhaar Housing Finance
Limited.

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 CUSTOMER SERVICE
India Post Payments Bank has constantly adopted a customer centric approach focusing on
delightful customer experience in every interaction while being trusted for integrity and highest
standards of governance. With new product offerings and excellence in Customer service at the
crux of the strategy, IPPB provide seamless banking experience to their customer. In order to
swiftly handle the queries and redress the customer grievance IPPB provides multiple avenues of
contact to its customers.

To ensure prompt resolution of customer grievances IPPB has designated Grievance Redressal
Officers/ Nodal officers at Circle level & Principal Nodal officer at corporate office. Further, in
line with the Internal Ombudsman Scheme 2018, the complaints, which the Bank proposes to
reject/ provide partial resolution, are referred to the Internal Ombudsman (IO) prior to
responding to the customer.

Various initiatives taken in the area of customer service in FY 2021-22 includes:

During the year IPPB sustained improvement in Quality score card, which is key metric for
measuring the customer satisfaction.

IPPB Contact Center continues to provide 24*7*365 assistance to their customer through Noida,
Chennai, and Kolkata centers which supports 13 languages through IVR and inbound and
outbound calling (Hindi English and other 11 vernacular Languages). It is equipped to handle

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emergencies like unauthorized Debit transactions and Virtual Debit Card Blocking, enquires for
which dedicated number has been deployed 18008899860 & 155299 for other grievances.

Doorstep banking and banking through mobile has been made easy for customers or
noncustomers with addition of PSP application and other services with existing multiple
frequently used options and functionalities (Nomination registration). The PSP application and
existing mobile application are being enhanced with new functionalities in order to provide
better user experience.

This year total number of complaints received is 20170 (i.e.271 complaints outstanding as on
01.04.2022, 20158 complaints were resolved up to the satisfaction of the complainant, till 31st
March, 2022.

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WORK RESPONSIBILITIES DURING
INTERNSHIP
 Week 1 - In the first week our Induction was taken in which we get information about
India Post Payment Bank, what is the structure of the bank, how does it work, what are
the resources and how much customer reach is there, what are the products and what
facilities are given to the customer and apart from this, how is the bank's revenue
generated.

Then we were told about insurance like general insurance and life insurance, then we got
bajaj products like GTL,POS,GPG and Group accidental policy of 396.
information about Pan India offices and business of IPPB and mobile services of IPPB
and how to operate it.

 Week 2 - Introduction of target that I need to accomplish during my internship and

creation of strategy plan that we need to execute. After the strategy plan, we got a list in
which there were account details of 100 people who were inactive or dormant, so our task
was to call 100 people and inform them that your account has become inactive or
dormant. To restart the account, you will have to get KYC updated, for which you will
have to update KYC at the nearest post office and apart from this, we should inform them
about insurance according to their interest and finally make them aware of the fraud.
And at the same time talks were going on with people for setting up IPPB camps, this
was also a part of my internship.

 Week 3 - In 3rd week we got 2nd and 3rd 100 account details list to call again, completed
it. financial awareness Then we conducted IPPB camp in Vihighar- Mahalaxmi city type -
D society, camp Rabale and Vihighar visit.
Then IPPB had 2 days GI login drive, then we had to call our end users and motivate
them to do GI login and help them as well as we also have to login in GI.
Then we got information about IPPB mobile banking errors and their solution.
We got a lot of knowledge while interacting with the customer every day, it was a new
experience.

 Week 4 - Calling to end users or postmen for login day activation of general insurance
take review from them about target achievement. Calling to our connections for camp and
introduction of SBI life insurance product.

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 Week 5- Then we did Merchant onboarding and issued QR cods to them, generated
General and Life insurance leads in the market closest to the post office.
QR code login drive on 29 may 2023 so we visited to (Gulsunda village,Mohopada
market,Patalganga road rasayani) for QR code issue and merchant onboarding.
Attended Postmen meeting for life insurance awareness walk in customers in post office
interaction and pitching life insurance product.

 Week 6 - Walk in customers interaction for pitching life insurance. Visit to nearby market
for issue QR code and life insurance. Visited to OLA office khanada colony, UBER office
kamothe then Panvel ST DEPO for IPPB camp. visited Khanda colony market for
merchant onboarding and QR code issue.
Generated GI leads form market.

Week 7 - Attended IPPB Camp in Vindane Village.

Awareness of GI login drive 15 June to 15 July to postmen and branch offices. Calling to
end users or postmen for login day activation of general insurance take review from them
about target achievements.
Visited MGM Hospital for IPPB camp and truck parking station kalamboli for GI camp.

 Week 8 – Visited to Sanpada OLA office and Uber office for IPPB camp.
visited branch post office Adai for effective implementation of GI drive and camp
activity.Visit to another post office in old Panvel for GI awareness.
Visited and arranged Meting in Panvel Mahanagarpalika for (GI policy of Bajaj 396)
login drive.

 Week 9 - Interacting with walking customers and solving their problems regarding IPPB
mobile banking and KYC update, Account opening, GI policy issue, helping them to
login in IPPB mobile banking app visited to Adai post office for awareness of camp and
preparation of camp, visited Adai Gram panchayat office interacted with sarpanch of Adai
MR. Ramakant Garude sir and Gramsevak MR. Dipak Kondvilkar for IPPB camp.
Conducted IPPB camp in Adai.
Interaction with walk in customers for pitching life insurance products.

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 SKILLS ACQUIRE DURING
INTERNSHIP
 Communication - learned how to communicate with people having different psychology.
Learned how to communicate professionally.by interacting with then knowing their need
so we can advise them the perfect policy which is suitable to the that customer.

 Problem solving - Solving the problems of customers regarding IPPB mobile banking
systems. Solving the problems in implementation of strategy.

 Leadership - How to arrange and manage people or given resources for camps and
handle the people around you for successful Completion of camp.

 Project management - Analyzing and observing various things around work place.
Supervising team.

 Utilizations of resources – Resource utilization is a vital area of project management

that can sustain growth, increases profits, improve productivity and enhance an
enterprise’s bottom line.

 Financial knowledge – Like what is IRR and it’s importance in insurance. CASA
system of bank how it works for banking sector. CRR, SRR.

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 CONCLUSION
The work experience that I have taken here during the internship allowed me to develop many
skills like communication, leadership, management, problem solving etc, the overall experience
was positive, and everything I learned would be useful in my future career in this field. My
financial understandings about insurance is increased.
Indian Post payments Bank was launched with the vision to build the most accessible, affordable,
and trusted bank for the common man.
The focus of IPPB is financial inclusion of unbanked and under banked sector of India and to
create cashless ecosystem. IPPB running the largest training programme of financial literacy and
digital literacy. India Post Payments Bank has the leverage of largest postal network in the world.
IPPB has increased the size of rural banking infrastructure by seven times. As IPPB is not
allowed to advance loans which is the primary income source of banks, IPPB need to more focus
on new ways of income generation.

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