India’s digital transformation journey has reached another significant milestone. India Post Payments Bank (IPPB), a fully government-owned financial institution under the Department of Posts, Ministry of Communications, has been conferred with the prestigious Digital Payments Award 2024–25. This honor has been bestowed by the Department of Financial Services (DFS), Ministry of Finance, acknowledging IPPB’s outstanding contribution to the expansion of digital payments and its steadfast efforts towards financial inclusion.
Payments Bank Honoured
The award ceremony was held in New Delhi in the esteemed presence of Hon’ble Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, and Hon’ble Minister of State for Finance, Shri Pankaj Chaudhary. Representing the bank and receiving the honor were Shri R. Viswesvaran, MD & CEO of IPPB, and Shri Gursharan Rai Bansal, CGM & CSMO.
Top Rank in Payments Bank Performance Index
In addition to receiving the Digital Payments Award, IPPB has also secured the first position among all Payments Banks in India in the DFS Performance Index for the financial year 2024–25. Furthermore, the bank received a Special Mention for its impactful performance in the previous year, 2023–24.
A Vision Born in 2018, Now a Nationwide Force
Launched in September 2018, IPPB was envisioned to become the most accessible, affordable, and trusted banking network for every Indian. Operated with 100% Government of India equity, the bank functions through the vast and deeply connected postal system. With over 1.65 lakh Post Offices, out of which around 1.4 lakh are in rural areas, and more than 3 lakh postal employees, including Postmen and Gramin Dak Sevaks, IPPB has created a robust and reliable doorstep banking network.
A Technological Revolution Rooted in Inclusion
IPPB’s model stands strong on the foundation of the India Stack, delivering services that are paperless, cashless, and presence-less. Using CBS-integrated smartphones and biometric authentication devices, the bank has reached over 11 crore customers across 5.57 lakh villages and towns.
To ensure inclusivity, IPPB’s services are accessible in 13 regional languages, bridging the gap for millions of Indians previously excluded from the digital ecosystem.
Leadership Speaks: IPPB’s Commitment to the People
On receiving the award, Shri R. Viswesvaran, MD & CEO of IPPB, expressed,
“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.”
IPPB: The People’s Bank
Unlike conventional banks, IPPB does not rely on urban infrastructure. Its strength lies in its grassroots presence. It reaches citizens where traditional banks could not — from remote Himalayan villages to desert hamlets and coastal towns — delivering not just banking services, but financial dignity and empowerment.
Serving the Nation’s Vision of a Digital Economy
As India marches towards a cash-light and digitally-empowered economy, the importance of institutions like IPPB becomes even more pronounced. By extending formal banking to the unbanked and underbanked, IPPB is helping bridge the urban-rural divide, and turning the vision of Digital India into a reality.
A Salute to the Unsung Heroes
Every financial service delivered by a postman or Gramin Dak Sevak under the IPPB banner is not just a transaction — it’s a transformation. It means less dependence, more dignity, and above all, greater opportunities for those at the bottom of the economic pyramid.
Setting a National Example
IPPB’s recognition this year is not just an award, it is an example for every public service organization. It shows that with the right vision, strong infrastructure, and digital innovation, the government can provide services that are efficient, inclusive, and transformative.
IPPB has been established under the Department of Posts, Ministry of Communication with 100 per cent equity owned by the government. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked and underbanked and reach the last mile leveraging the Postal network comprising 1,65,000 Post Offices (140,000 in rural areas) and 3,00,000 Postal employees.