Lok Sabha Question No. 400 (STARRED), answered on 2017-03-29
Subject: India Post Payments Banks
Ministry: COMMUNICATIONS
Asked by: PASHUPATI NATH SINGH, NINONG ERING

## GOVERNMENT OF INDIA MINISTRY OF COMMUNICATIONS DEPARTMENT OF POSTS

## LOK SABHA STARRED QUESTION NO.400 TO BE ANSWERED ON 29 TH   MARCH, 2017

## INDIA POST PAYMENTS BANK

- † *400. SHRI PASHUPATI NATH SINGH: SHRI NINONG ERING:

Will the Minister of COMMUNICATIONS be pleased to state:

- (a) whether the Government has set up the India Post Payments Bank (IPPB) as a Public Limited Company under the Department of Posts and if so, the details and the status thereof along with the benefits accrued/likely to be accrued therefrom;
- (b) the  number  of  IPPB  branches  opened  so  far,  State/UT-wise  along  with  the  time  by  which branches of the said bank are likely to be opened in all the States;
- (c) whether IPPB has installed ATMs and issued Debit Cards across the country and if so, the details thereof including the number of ATMs installed and Debit Cards issued, State/UT-wise;
- (d) whether many firms including global banking institutions like the World Bank have reportedly expressed interest for being associated with IPPB and if so, the details thereof and the action taken by the Government thereon; and
- (e) whether  IPPB  has  signed  any  Memorandum  of  Understanding  with  British  lender  Barclays regarding banking operations and if so, the details thereof?

## ANSWER

## THE MINISTER OF STATE (IC) OF THE MINISTRY OF COMMUNICATIONS & MINISTER OF STATE IN THE MINISTRY OF RAILWAYS (SHRI MANOJ SINHA)

- (a) to (e) A Statement is laid on the Table of the House.

Contd…….2/-

## STATEMENT TO BE LAID ON THE TABLE OF THE LOK SABHA IN RESPECT OF PARTS (a) TO (e)  OF  LOK    SABHA  STARRED  QUESTION  NO.400  FOR    29 TH   MARCH,  2017  REGARDING 'INDIA POST PAYMENTS BANK '.

(a) & (b) Yes Madam, Department of Posts (DoP) has set up India Post Payments Bank (IPPB)  as  a  Public  Limited  Company  on  17/08/2016  under  the  Companies  Act  2013,  to further the financial inclusion objectives of the Government. IPPB has launched operations in Raipur  (Chattisgarh)  and  Ranchi  (Jharkhand)  with  8  access  points  on  30/01/2017.  It  is proposed  to  set  up  access  points  co-located  with  district  level  post  offices  in  up  to  650 districts  with  linkages  to  all  the  post  offices  throughout  the  country  by  September,  2017, subject to feasibility and fulfillment of regulatory requirements. Thus after complete roll-out, approximately, 1.55 lakh post offices will become access points for the IPPB.

(c) IPPB has not installed  any  ATM,  as of  now.  IPPB  has  issued 1619  Debit  Cards of which  832  Debit  Cards  have  been  issued  in  Jharkhand  and  787  Debit  Cards  have  been issued in Chattisgarh.

However, the Department of Posts has installed 976 ATMs which are mostly located in the rural areas of India.

(d) Yes  Madam,  many  companies  have  approached  the  Department  of  Posts  for collaboration with India Post Payments Bank (IPPB) which include domestic and international financial entities in the field of banking, insurance, international money transfer, mutual funds etc.  Some preliminary discussions had taken place with International Finance Corporation (World Bank); no formal proposal to this effect has been received. While the Department is in various stages of discussions with them, decision on formal partnerships will be taken after carefully evaluating the entire value proposition that they propose for the common man. A list of  companies  interested  in  partnering  with  India  Post  Payments  Bank  is  attached  at Annexure A.

- (e) No Madam, IPPB has not signed any Memorandum of Understanding with Barclays.

## Annexure-A

|    | List companies keen to partner with India Post Payments Bank.   |
|----|-----------------------------------------------------------------|
|  1 | YES Bank                                                        |
|  2 | Union Bank of India                                             |
|  3 | Punjab National Bank (PNB)                                      |
|  4 | Industrial Development Bank of India (IDBI Bank)                |
|  5 | State Bank of India (SBI)                                       |
|  6 | Axis Bank                                                       |
|  7 | Bank of Baroda (BOB)                                            |
|  8 | Industrial development finance company (IDFC Bank)              |
|  9 | Deutshe Bank                                                    |
| 10 | Barclays Bank                                                   |
| 11 | Citibank                                                        |
| 12 | National Bank ForAgriculture & Rural Development (NABARD)       |
| 13 | Hongkong and Shanghai Banking Corporation (HSBC)                |
| 14 | MICRO SAVE                                                      |
| 15 | Allahabad Bank                                                  |
| 16 | Indian Overseas Bank (IOB)                                      |
| 17 | Dena Bank                                                       |
| 18 | Financial Inclusion (FIA)                                       |
| 19 | Kotak Mahindra Bank                                             |
| 20 | United Bank of India (UBI)                                      |
| 21 | Housing Development Finance Corporation (HDFC Life)             |
| 22 | Royal Sundaram                                                  |
| 23 | PNB Metlife                                                     |

|   24 | Industrial Credit and Investment Corporation of India Bank (ICICI Prudential)   |
|------|---------------------------------------------------------------------------------|
|   25 | Industrial Credit and Investment Corporation of India Bank (ICICI Lombard)      |
|   26 | Bajaj Allianz Life                                                              |
|   27 | India First Life Insurance                                                      |
|   28 | Max Life Insurance                                                              |
|   29 | Life Insurance Corporation (LIC)                                                |
|   30 | Transfort, USA                                                                  |
|   31 | Western Union                                                                   |
|   32 | UAE Exchange                                                                    |
|   33 | Transfast, USA                                                                  |
|   34 | UTI Asset Management, Unit Trust of India                                       |
|   35 | CMS Infosystem (Content Management System.)                                     |
|   36 | Reliance Capital Limited                                                        |
|   37 | Ambay Forex                                                                     |
|   38 | Centre For Digital Financial Inclusion (CDFI)                                   |
|   39 | Institute for Development & Research in Banking Technology (IDRBT)              |
|   40 | National Institute of Bank Management (NIBM)                                    |
|   41 | Indian Institute of Corporate Affairs                                           |
|   42 | National Stock Exchange                                                         |
|   43 | Access Assist                                                                   |
|   44 | Muthoot Fin Corp                                                                |
|   45 | AnG India Ltd                                                                   |
|   46 | Nomura Research Institute                                                       |
|   47 | Aumentis                                                                        |
|   48 | Randstad                                                                        |

|   49 | Institution for Bank Recruitment and Training( IBRT)      |
|------|-----------------------------------------------------------|
|   50 | Shilpi Architects                                         |
|   51 | Mahanagar Telephone Nigam Limited (MTNL)                  |
|   52 | AbcInfosystems                                            |
|   53 | Pension Fund Regulatory and Development Authority (PFRDA) |
|   54 | Visa                                                      |
|   55 | Methodex Systems                                          |
|   56 | iValueinfosolutions                                       |
|   57 | Inspira                                                   |
|   58 | Indepay                                                   |
|   59 | Mindgate Solutions                                        |
|   60 | Layered Security                                          |
|   61 | Nelito Systems                                            |
|   62 | Indian Telephone Industries Limited (ITI Limited)         |
|   63 | National Cash Register (NCR) Corporation                  |
|   64 | Finacus Solutions                                         |
|   65 | Bharat Sanchar Nigam Limited (BSNL)                       |
|   66 | Tata Communication Payment Solutions                      |
|   67 | Mfino                                                     |
|   68 | Span Technologies                                         |
|   69 | AGS Transact Technologies LTD                             |
|   70 | Wipro Ltd                                                 |
|   71 | Ezeetap                                                   |
|   72 | Diebold Systems Pvt Ltd                                   |
|   73 | Hitachi Payments Services Pvt. Ltd                        |

|   74 | Electronic Payment and Services (P) Ltd.   |
|------|--------------------------------------------|
|   75 | Fiorano software                           |
|   76 | Worldline India Pvt ltd                    |
|   77 | Transaction Analyst                        |
|   78 | Pay e, USA                                 |
|   79 | Perpetuuity                                |
|   80 | Edgeverve                                  |
|   81 | Obopay                                     |
|   82 | Wordline                                   |
|   83 | Oberthur                                   |
|   84 | Burroughs Inc                              |
|   85 | Intellect Design Arena                     |
|   86 | 3i Infotech                                |
|   87 | RS Software                                |
|   88 | Empays                                     |
|   89 | Hughes Communication India Ltd             |
|   90 | Total System Services (Tsys)               |
|   91 | AKS IT Services                            |
|   92 | Aditya Birla                               |
|   93 | Safeage                                    |
|   94 | Tata AIG                                   |
|   95 | Crane PI                                   |
|   96 | Finsall                                    |
|   97 | OKI                                        |
|   98 | Agmatel                                    |

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