Full Form of IPPB
The IPPB operates in the same way as any other bank, albeit on a considerably smaller size and also does not carry any credit risk. The official app of the IPPB, Indian Post Payments Bank App (IPPB App) can be used to open an account with the IPPB by simply submitting pieces of information, such as your Aadhar number and KYC verification.
With the help of IPPB, banking reaches or is reaching, each Indian individual, because of the doorstep banking service that it provides.
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What is full form of IPPB?
IPPB, the abbreviation, stands for India Post Payments Bank. India Post Payments Bank (IPPB) is a division of Indian Post that is governed by the Ministry of Communications of the Government of India and is the country’s sole government-owned and operated payments bank. By December 2020, the bank, which opened in 2018, had accumulated roughly 4.0 crore customers.
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IPPB Full Form, Works, and Aims
IPPB is a wholly-owned payments bank and a subsidiary of the Indian postal department that provides doorstep banking services through a network of approximately 3 million postal postmen and Grameen Dak Sewaks with 100% Government of India ownership.
RBI will oversee the Indian Post Payments Bank, which has the goal of becoming the most inexpensive, accessible, and trusted bank for the ordinary man while also promoting the objective of financial inclusion for the underbanked.
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IPPB Full Form: How did it start?
The RBI granted India Post a licence to operate a payments bank on August 19, 2015. It was registered as a public limited government corporation for the purpose of establishing a payments bank on August 17, 2016. IPPB collaborates with the Ministry of Communications’ Department of Posts.
IPPB’s pilot project in Raipur and Ranchi was launched on January 30, 2017. The Union Cabinet approved a cost of Rs 1,435 crore for the bank’s establishment in August 2018. On September 1, 2018, the bank’s first phase was launched, with 650 branches and 3,250 post offices serving as access points. The first phase has enlisted the help of almost ten thousand postmen. By September 2020, the bank had managed to amass over 3.5 crore custodial accounts.
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IPPB ka Full Form
आईपीपीबी का पूर्ण रूप
आईपीपीबी किसी भी अन्य बैंक की तरह ही काम करता है, हालांकि इसका आकार काफी छोटा होता है और इसमें कोई क्रेडिट जोखिम भी नहीं होता है। आईपीपीबी की आधिकारिक ऐप, इंडियन पोस्ट पेमेंट्स बैंक ऐप (आईपीपीबी ऐप) का उपयोग आईपीपीबी के साथ खाता खोलने के लिए केवल आपके आधार नंबर और केवाईसी सत्यापन जैसी जानकारी जमा करके किया जा सकता है।
आईपीपीबी की सहायता से, बैंकिंग प्रत्येक भारतीय व्यक्ति तक पहुँचती है या पहुँच रही है, क्योंकि यह डोरस्टेप बैंकिंग सेवा प्रदान करती है।
IPPB, संक्षिप्त नाम, इंडिया पोस्ट पेमेंट्स बैंक के लिए है। इंडिया पोस्ट पेमेंट्स बैंक (आईपीपीबी) भारतीय डाक का एक प्रभाग है जो भारत सरकार के संचार मंत्रालय द्वारा शासित है और देश का एकमात्र सरकारी स्वामित्व वाला और संचालित भुगतान बैंक है। दिसंबर 2020 तक, 2018 में खुलने वाले बैंक के पास लगभग 4.0 करोड़ ग्राहक जमा हो गए थे।
आईपीपीबी एक पूर्ण स्वामित्व वाला भुगतान बैंक है और भारतीय डाक विभाग की एक सहायक कंपनी है जो भारत सरकार के 100% स्वामित्व वाले लगभग 3 मिलियन डाक डाकियों और ग्रामीण डाक सेवकों के नेटवर्क के माध्यम से घर-घर बैंकिंग सेवाएं प्रदान करती है।
आरबीआई इंडियन पोस्ट पेमेंट्स बैंक की देखरेख करेगा, जिसका लक्ष्य आम आदमी के लिए सबसे सस्ता, सुलभ और भरोसेमंद बैंक बनना है, जबकि कम बैंकिंग सुविधा वाले लोगों के लिए वित्तीय समावेशन के उद्देश्य को भी बढ़ावा देना है।
IPPB Full Form online: Troubles and challenges
The IPPB’s introduction has ushered in a tectonic upheaval in India’s financial scene, allowing rural India access to a plethora of banking opportunities. However, this massive endeavour faces several challenges that appear to be more than just minor snags.
There is a lack of technological infrastructure in the country’s rural areas. It appears that the proposal to turn the postman into a mobile bank will be tough to implement in locations where electricity and internet connectivity are scarce. With 90% of post offices located in rural regions, this is a problem that may require an immediate solution. However, the government, on the other hand, is optimistic that it will be able to overcome these challenges and that the IPPB will be a success.
Moreover, another challenge that IPPB faces is that the payments banks are required to invest 75% of their total demand deposits in government-linked assets and treasury bills under RBI rules, making it impossible for IPPB to make a profit.
FAQs on IPPB Full Form
What is the full form of the abbreviation IPPB?
IPPB, the abbreviation, stands for India Post Payments Bank.
Under what department was IPPB set up?
Under the Department of Post, Ministry of Communication IPPB was set up, with 100 per cent of government equity.
How to create an IPPB account online?
- The applicant must be at least 18 years old and an Indian citizen.
- On your mobile phone, go to the IPPB Mobile Banking app and select ‘Open Account.’
- After entering the PAN card number and Aadhaar card number, you will receive an OTP on your linked cell number, which will allow you to register an immediate bank account.
Is it possible to transfer funds from SBI to IPPB?
Customers must register an IPPB account at the post office in order to transfer money from SBI or any other bank to the post office. This is a mobile account. It is possible to run it with the help of an app. IPPB makes it simple to conduct banking transactions.
How secure is an IPPB account?
Because each transaction is confirmed using biometrics, even if a QR card is lost or stolen, the money will remain safe in one’s account.