India Post Payments Bank Honored with Digital Payments Award 2024-25
- IPPB received the Digital Payments Award 2024–25 from the Ministry of Finance.
- Ranked 1st among Payments Banks in the Performance Index for FY 2024–25.
- Enabled inclusive digital banking through a vast postal network and doorstep services.
India Post Payments Bank (IPPB), a wholly-owned Government of India entity operating under the Department of Posts, Ministry of Communications, has been honored with the prestigious Digital Payments Award 2024–25 by the Department of Financial Services (DFS), Ministry of Finance. The recognition comes in acknowledgment of IPPB’s outstanding contribution to the expansion of digital payments and its unwavering commitment to financial inclusion across the country.
The award was presented by the Hon’ble Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, along with Hon’ble Minister of State for Finance, Shri Pankaj Chaudhary, at a ceremony held in New Delhi. It was received by Shri R. Viswesvaran, MD & CEO of IPPB, and Shri Gursharan Rai Bansal, CGM & CSMO of the bank. This prestigious honor also accompanies IPPB’s achievement of securing the first position among all Payments Banks in India in the Performance Index for the Financial Year 2024–25. The bank also received a ‘Special Mention’ award for its performance in the previous year, 2023–24.
Since its launch in September 2018, IPPB has established itself as a cornerstone of inclusive digital banking in India. Created with the vision of building the most accessible, affordable, and trusted banking system for the common man, IPPB operates with 100% government equity and functions through the vast network of the Department of Posts. Leveraging over 1.65 lakh Post Offices around 1.4 lakh of which are in rural areas and over 3 lakh postal employees, including Postmen and Gramin Dak Sevaks, IPPB has developed a tech-driven, doorstep banking model that penetrates deep into India’s remotest corners.
The bank’s innovative model is based on the core pillars of the India Stack providing paperless, cashless, and presence-less banking services that are simple, secure, and accessible at the customer’s doorstep. Using CBS-integrated smartphones and biometric devices, IPPB has reached more than 11 crore customers across 5.57 lakh villages and towns in India. Its mobile interfaces are designed in 13 regional languages to make digital banking more inclusive for people from all walks of life.
Receiving the award, Shri R. Viswesvaran, MD & CEO of IPPB, 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 critical role in bridging the urban-rural banking divide and supporting the Government of India’s vision of a cash-light, digitally empowered economy. With its deep-rooted presence and inclusive technology, IPPB continues to remove barriers for the unbanked and underbanked, providing them with equal opportunities to become financially secure and empowered.
As India progresses towards becoming a digitally advanced nation, IPPB stands as a shining example of public sector innovation, demonstrating that every customer is important, every transaction is significant, and every deposit is valuable.
