CHAROTAR UNIVERSITY OF SCIENCE AND TECHNOLOGY

(CHARUSAT)
FACULTY OF MANAGEMENT STUDIES (FMS)
INDUKAKA IPCOWALA INSTITUTE OF MANAGEMENT (I2IM)
BBA PROGRAMME (BATCH: 2020-23), SEMESTER-III

BANKING AND INSURANCE

PATEL DHRASTI ALPESHBHAI

(20BBA081)
Semester 3 –
BBA- I2IM-CHARUSAT
INDIA POST PAYMENT BANK AND IT’S
SERVICES OFFERING.
FLOW OF CONTENT
1. History Of Post office
2. Introduction to IPPB
3. Roles in financal inclusion
4. Key factor of IPPB
5. Intrest Rate
6. Services.
HISTORY OF POST OFFICE
•In the 1820s Thomas Waghorn began investigations into
improving mail routes between England and India.
• Mails may taken nearly three months to reach England,
but Waghorn’s letters accomplished he same journey in just
35 days
 INTRODUCTION TO IPPB
At India Post Payments Bank, we 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 network of 650 IPPB a branches/controlling
offices, working on a hub and spoke model.
ROLES OF INCLUSION
Financial inclusion is an important step towards inclusive growth. It helps in
the overall economic development of the underprivileged population. In
India effective financial inclusion is needed for upliftment of the poor and
disadvantaged people by providing them the modified financial products and
services.
• India Post has about 1,54,000 post offices, of them 90% are in rural areas.
• There is one post office for every 7176 people in India. India Post also has
2,96,000 agents in the rural area. After State Bank of India, India Post has the
largest deposits valued at 26 lakh crore.
• The Indian post payment was setuped in 30 Jan
2016
• Headquarter is situated in new Delhi. There was a
plan to setup around 650 post payments bank
branches.
KEY FACTOR OF IPPB
1. Financial Literacy.
You can avail yourself of services such as easy bill payments, Doorstep Banking services,
instant money transfer through IMPS and other remittance services. In addition, you will get
the benefit of QR card, phone banking, SMS banking, free quarterly email statements and
SMS alerts.
2.Streamining Payments.
IPPB or India Post Payments Bank charges a fee ranging from ₹ 2.5 to ₹ 50 per transaction
from its customers for instant money transfer through NEFT, RTGS and IMPS payments
platforms, according to the government-owned payments bank’s website
INTREST RATES
For a balance up to ₹1 lakh, the current interest rate
applicable will be 2.5% per annum. Earlier, it was 2.75%
p.a. The rates remain unchanged if the balance is
between ₹1 lakh and ₹2 lakh. The interest rate stands at
2.75% p.a, and the customers will continue to earn the
same on their savings.
SERVICES
1. Domestic Remittance service.
2. Direct Benefit Service.
3. Doorstep Banking.
DOMESTIC REMITTANCE SERVICES
• IPPB will provide an inexpensive and secure medium to
transfer funds from its domestic remittance offering.
•All customers of IPPB would be eligible to avail a host of
different modes of domestic remittance subject to the
stipulated constraints. Example: NEFT, IMPS, AEPS and UPI.
DIRECT BENEFIT TRANSFER
•DBT program aims to transfer subsidies directly to the people through their
bank accounts, which will in turn reduce leakages, delays and other similar
challenges.

• Funds from the disbursing agency are automatically credited into the
beneficiary accounts through NACH/APBS instead of cash disbursal. IPPB will
provide cash out of the subsidies at the customer’s doorstep by combining
this service with Doorstep Banking.
DOORSTEP BANKING
•We look forward to extending our relationship with banking
at your doorstep.

• Doorstep banking allows a customer for a nominal fee

to request and avail banking and related services at their
door.