History
Introducing an easier and quicker way of opening an online account with IPPB’s digital savings account! That's right, no more paper work is required. One can enjoy a range of best digital savings account services on their mobile phone. The process is simple – the applicant needs to download our mobile app enter his/her PAN number, Aadhaar number and start banking with us.
Here's how it started:
September 2015
Department of Post Receives in-principal approval from RBI to set up payments bank.
January 2016
PBI division of DoP earmarks Rs. 800 crore funding amount for IPPB
August 2016
India Post Payments bank incorporated on 17th August 2016 as a 100% Government of India owned bank under the Department of Posts
January 2017
Receives Payments bank license from Reserve Bank of India (RBI)
IPPB started its operations on 30th January, 2017 by opening two pilot branches, Raipur and Ranchi.