India Post Payments Bank - Wikipedia India Post Payments Bank India Post Payments Bank LTD Type Public limited company Industry Financial services Founded 1 September 2018 ; 55 days ago ( 2018 - 09 - 01 ) Headquarters New Delhi, India Area served India Key people Anant Narayan Nanda ( Secretary, Department of Post ) Suresh Sethi ( MD & CEO ) Products Banking Parent India Post Website ippbonline.com India Post Payments Bank ( IPPB ) is a Government of India owned payments bank operating under the Department of Posts, Ministry of Communication, which aims to utilize all of India 's 155,015 post offices as access points and 300,000 postal service workers to provide house to house banking services. The first phase of the bank with 650 branches and 3250 post offices as access points was inaugurated on 1 September 2018. Over ten thousand postmen have been roped into the first phase. The Prime Minister of India, Narendra Modi, at the launch of the India Post Payments Bank, in New Delhi on September 01, 2018. The Minister of State for Communications ( I / C ) Manoj Sinha, the Secretary ( Post ), Ananta Narayan Nanda and IPPB CEO and MD Suresh Sethi are also seen. Contents 1 History 2 Services 3 See also 4 References 5 External links History On 19 August 2015 India Post got licence to run a payments bank from Reserve Bank of India. On 17 August 2016 it was registered as a public limited government company for setting up a payments bank. The pilot project of IPPB was inaugurated on 30 January 2017 at Raipur and Ranchi. The first phase nationwide inauguration happened on September 1, 2018. In August 2018 the Union Cabinet approved a cost of ₹ 1435 crore ( ~ $200 million ) for setting up the bank. Services India Post Payments Banks offers savings accounts, money transfer and insurances through third parties, bill and utility payments. The Bank will reach to rural and far - flung areas of the country, delivering banking services to the doorstep of every Indian Account : The bank offers savings and current accounts up to a balance of Rs 1 Lac. QR Card : Customers can use QR code payments eliminating the need to remember account numbers, PINs and passwords. Unified Payments Interface Immediate Payment Service National Electronic Funds Transfer Real - time gross settlement Bharat BillPay Direct Benefit Transfer India Post Payments Bank has been allowed to link around 17 crore postal savings bank ( PSB ) accounts with its accounts. The government aims to link all the 1.55 lakh post offices to the IPP Bank system by 31 December 2018. See also Payments bank Poste italiane References Jump up ^ `` IPPB appoints Suresh Sethi as its MD & CEO ''. Press Information Bureau. Government of India. Jump up ^ Saleem, Shaikh Zoaib ( 2018 - 09 - 05 ). `` How payments banks are different from regular banks ''. Livemint. Retrieved 2018 - 09 - 05. ^ Jump up to : `` About IPPB - IPPB ''. ippbonline.com. Retrieved 2018 - 09 - 05. Jump up ^ `` All you want to know about... India Post Payment Bank ''. @ businessline. Retrieved 2018 - 09 - 05. Jump up ^ `` India Post Payments Bank launched : Some important facts about IPPB Latest News & Updates at DNAIndia.com ''. dna. Retrieved 2018 - 09 - 05. Jump up ^ Sharma, Devansh ( 2018 - 08 - 20 ). `` Your friendly neighbourhood postman is about to become a banker ''. The Economic Times. Retrieved 2018 - 09 - 05. Jump up ^ Sengupta, Devina ; Singh, Karunjit ( 2018 - 08 - 31 ). `` Government expects India post payments bank to be profitable after 2 years : Communications minister Manoj Sinha ''. The Economic Times. Retrieved 2018 - 09 - 05. Jump up ^ Agarwal, Nikhil ( 2018 - 09 - 04 ). `` India Post Payments Bank replaces ATM / debit cards with QR cards. How to use them ''. Livemint. Retrieved 2018 - 09 - 05. Jump up ^ Press Information Bureau. `` Cabinet approves Revised Cost Estimate for setting up of India Post Payments Bank ''. pib.nic.in. Retrieved 2018 - 09 - 05. Jump up ^ Gupta, Komal ( 2018 - 09 - 03 ). `` Explained : India Post Payments Bank, in 5 points ''. Livemint. Retrieved 2018 - 09 - 05. Jump up ^ `` India Post Payments Bank will deliver banking services to every Indian 's doorstep, says PM Modi ''. www.businesstoday.in. Retrieved 2018 - 09 - 27. Jump up ^ Livemint ( 2018 - 08 - 31 ). `` India Post Payments Bank launched : 10 things to know ''. Mint. Retrieved 2018 - 09 - 27. 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Mitsubishi UFJ Barclays Citibank India Credit Suisse DBS Bank Deutsche Bank HSBC Rabobank Royal Bank of Scotland Scotiabank Standard Chartered Regional Rural Banks Other Andhra Pradesh Grameena Vikas Bank Andhra Pragathi Grameena Bank Assam Gramin Vikash Bank Bangiya Gramin Vikash Bank Gramin Bank of Aryavart Kerala Gramin Bank North Malabar Gramin Bank Pallavan Grama Bank Pandyan Grama Bank Paschim Banga Gramin Bank Sarva UP Gramin Bank South Malabar Gramin Bank Uttar Bihar Gramin Bank Vananchal Gramin Bank Uttar Pradesh Allahabad UP Gramin Bank Baroda UP Gramin Bank Gramin Bank of Aryavart Kashi Gomti Samyut Gramin Bank Prathama Bank Purvanchal Bank Sarva UP Gramin Bank Payments bank Aditya Birla Payments Bank Airtel Jio Paytm India Post Payments Bank Defunct banks Alliance Bank of Simla Arbuthnot & Co Bank of Bombay Bank of Calcutta Bank of Chettinad Bank of Cochin Bank of Hindostan Bank of Madras Bank of Madura Bank of Rajasthan Bank of Thanjavur Bareilley Corporation Bank Bengal Central Bank Bharat Overseas Bank Bharatiya Mahila Bank Centurion Bank of Punjab Chartered Bank of India, Australia and China Commercial Bank of India Dass Bank Exchange Bank of India & Africa Global Trust Bank Grindlays Bank Hindustan Commercial Bank Imperial Bank of India ING Vysya Bank Lakshmi Commercial Bank Lord Krishna Bank Madhavpura Mercantile Cooperative Bank Mercantile Bank of India, London and China Miraj State Bank Nath Bank Nedungadi Bank New Bank of India Oriental Bank Corporation Oudh Commercial Bank Palai Central Bank Pandyan Bank Sikkim Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Saurashtra State Bank of Travancore Times Bank United Industrial Bank United Western Bank Interbank networks Cirrus NFS PLUS Electronic funds transfers BBPS IMPS NEFT RTGS UPI ( VPA ) AEPS BHIM Cards MasterCard Debit MasterCard Maestro RuPay Visa Visa Debit Visa Electron Visa payWave Related topics ATM usage fees in India De-Materialisation ( DEMAT ) Foreign Exchange ( FOREX ) Indian Financial System Code ( IFSC ) List of banks in India Prepaid Payment Instruments in India Institiutes Banks Board Bureau Banking Codes and Standards Board of India National Payments Corporation of India Protocol Bharat Bill Payment System Structured Financial Messaging System ( SFMS ) ATM networks BANCS Cashnet CashTree India 1 ATM ( White Label ATM ) Indicash ( White Label ATM ) MITR Payment service Atom BHIM BillDesk CCAvenue Chillr CitrusPay ( Lazy Pay ) Razorpay Tez Zeta India Digital wallets ABPB Wallet Amazon Pay Freecharge HDFC PayZapp ICICI pockets Mobikwik Oxigen Services Paytm PayU Payworld PhonePe SBI buddy External links IPPB Android App Retrieved from `` https://en.wikipedia.org/w/index.php?title=India_Post_Payments_Bank&oldid=865348859 '' Categories : Government - owned banks of India Payments banks Hidden categories : Use dmy dates from October 2015 Use Indian English from October 2015 All Wikipedia articles written in Indian English Talk Contents About Wikipedia हिन्दी മലയാളം मराठी Edit links This page was last edited on 23 October 2018, at 11 : 15 ( UTC ). 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Question: where is the headquarter of indian post payment bank
Answer: New Delhi, India