The India Post Payments Bank (IPPB) has been honoured with the prestigious Digital Payments Award 2024-25 by the Union Finance Ministry, in recognition of its significant contribution to expanding digital payment access and promoting financial inclusion across the country.
The award was presented by Finance Minister Nirmala Sitharaman and Minister of State for Finance Pankaj Chaudhary to IPPB’s Managing Director and CEO R Viswesvaran and Chief General Manager G Rai Bansal at a ceremony held in the national capital.
This accolade comes as IPPB secured the top position among all payments banks in the Department of Financial Services (DFS) performance index for the financial year 2024-25. The bank had received a “special mention” in the previous year’s assessment.
Established in 2018 as a fully government-owned entity under the Department of Posts, IPPB has emerged as a key driver of digital and inclusive banking. With a workforce of nearly 2 lakh postmen and Gramin Dak Sevaks equipped with smartphone-based biometric devices, the bank provides paperless, cashless, and presence-less banking services. Its vast network spans 1.65 lakh post offices, including 1.4 lakh in rural areas, and serves over 11 crore customers across 5.6 lakh villages and towns.
Commenting on the recognition, CEO R Viswesvaran said, “This award is a testament to IPPB’s continuous efforts in making digital financial services more accessible, inclusive, and trustworthy. We remain committed to empowering every Indian citizen through secure and innovative digital banking solutions.”
The award reinforces IPPB’s mission to bridge the urban-rural divide in banking services and align with the central government’s vision of building a less-cash, digitally empowered economy, the official release noted.
