City
Epaper

India Post Payments Bank unveils Aadhaar-linked service

By IANS | Updated: September 9, 2019 17:10 IST

India Post Payments Bank (IPPB) has announced launch of the Aadhaar-enabled payment services (AePS) for unbanked and under-banked people and said it has made 1 crore customers within one year of operations.

Open in App

Speaking at the first IPPB anniversary celebrations here on Monday, Union IT and Communications Minister Ravi Shankar Prasad said the bank, which achieved the 1-crore-customer milestone, had been asked to make it to 5 crore customers in the next one year.

Referring to the 440 central schemes on-boarded to the direct benefit transfer (DBT) platform, he said they must also be included to the IPPB platform.

Stating that 'inclusive' is the key mantra of the government, he said the Department of Posts should strive for banking the unbanked, funding the unfunded and securing the unsecured.

"Around 34 crore bank accounts have been opened under the Pradhan Mantri Jan Dhan Yojana. Of this, 22 crore belong to the rural people. With the IPPB's AePS, we now have the ability to provide inter-operable doorstep banking services to account holders of 'any bank', including Jan Dhan account holders", he said.

It was as per Prime Minister Narendra Modi's target, of ushering in economic transformation by bringing banks to the poor and the villagers' doorsteps, set at the time of IPPB's launch last year, he said.

Suresh Sethi, IPPB Managing Director & CEO, said its services were available across the country via over 1,36,000 Post Offices and were being delivered by 1,95,000 postmen.

( With inputs from IANS )

Tags: Ravi Shankar PrasadNarendra ModiSuresh SethiUnion It And Communications
Open in App

Related Stories

EntertainmentSaif Ali Khan Shares His Views About WAVES Summit and Indian Cinema Says, There Is So Much Untapped Talent

Entertainment"Meri Heartbeat Bohot Tez Chal Rahi Hai Aapke Saamne": Kartik Aaryan Wins Hearts with a Candid Confession to PM Narendra Modi at WAVES Summit

MumbaiMumbai: Shreya Ghoshal to Grace the Inaugural Stage of Waves Summit with a Soulful Bengali Tribute

NationalPM e-Drive Scheme: Know How to Apply Subsidy for Electric Two-Wheelers in Just 5 Days

MumbaiViral Sighting of Tesla Cybertruck Near Mumbai Stirs EV Enthusiasm (Photos)

कारोबार Realted Stories

BusinessNSE launches Nifty Waves Index comprising 43 listed media stocks

BusinessIndian companies drive Asia Pacific growth in value creation: BCG report

BusinessKing of Lavatory Care Partners with King of Bollywood: Harpic Welcomes Shah Rukh Khan as Brand Ambassador

BusinessBGMI Expands Customization Options with Latest Set of Redeem Codes

BusinessExhicon Signs Agreement with Butterfly Funtainments to Launch "Messe Global Arena Kharadi"