9th Foundation Day of India Post Payments Bank (IPPB):
India Post Payments Bank (IPPB) celebrated its 9th Foundation Day (IPPB Day 2026) on 1st September 2026.
- India Post Payments Bank (IPPB) was launched on 1st September 2018 under the Department of Posts, Ministry of Communications, with 100% equity ownership by the Government of India.
- IPPB was established to create an accessible, affordable, and trusted banking system for the common citizen by removing barriers faced by the unbanked and underbanked population.
- IPPB leverages the extensive India Post network of around 1.65 lakh post offices, including approximately 1.40 lakh rural post offices, and nearly 3 lakh postal employees to provide doorstep banking services.
- IPPB has a customer base of 13.25 crore, with 77% customers from rural areas and 49% women customers. Around 6.5 crore DBT beneficiaries received government benefits worth approximately ₹1.55 lakh crore through IPPB.
- IPPB operates on the principles of Paperless, Cashless, and Presence-less banking by using India Stack, Core Banking System (CBS)-integrated smartphones, and biometric devices.
- New Savings Products:
- SHG Savings Account: It provides a simple and secure banking solution for Self Help Groups (SHGs) and rural micro-entrepreneurs.
- Surakshit Savings Account: It offers enhanced protection through ₹25,000 cyber-insurance coverage against risks such as phishing, spoofing, and SIM jacking.
- Sampoorna Savings Account: It combines financial security with health and cyber protection benefits through wellness and insurance features.
