Lok Sabha Question No. 267 (UNSTARRED), answered on 2018-12-12
Subject: Launch of India Post Payments Bank
Ministry: COMMUNICATIONS
Asked by: P.K.SREEMATHI TEACHER, PARBHUBHAI NAGARBHAI VASAVA, BHAVANA GAWALI (PATIL), George Baker, ARVIND GANPAT SAWANT, ANIL SHIROLE, PARAYAMPARANBIL KUTTAPPAN BIJU

## GOVERNMENT OF INDIA MINISTRY OF COMMUNICATIONS DEPARTMENT OF POSTS

## LOK  SABHA UNSTARRED QUESTION NO. 267 TO BE ANSWERED ON 12 th   DECEMBER, 2018

## LAUNCH OF INDIA POST PAYMENTS BANK

267. SHRIMATI P.K. SREEMATHI TEACHER: SHRI PARBHUBHAI NAGARBHAI VASAVA: SHRIMATI BHAVANA PUNDALIKRAO GAWALI PATIL: SHRI GEORGE BAKER: SHRI ARVIND SAWANT: SHRI ANIL SHIROLE: DR. P.K. BIJU:

Will the Minister of COMMUNICATIONS be pleased to state:

- (a) the salient features of the India Post Payments Bank;
- (b) the details of the funds sanctioned for this, State/UT-wise including Gujarat;
- (c) the  details  of  the  number  of  branches  and  access  points  opened  across  the  country, State/UT-wise including West Bengal, Kerala and Maharashtra;
- (d) the details of the number of facilities being provided under this bank across the Country;
- (e) whether the Government has set any target to connect the post offices with the postal bank;
- (f) if so, the details thereof; and
- (g) whether there is any proposal to open more such banks in remote and rural areas in States in including Kerala 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) India Post Payments Bank (IPPB) has been incorporated as a Public Sector Under taking under  Department  of  Posts  with  100%  Government  of  India  Equity.  IPPB  as  an  organization,  is designed to leverage the field network of the Department of Posts (DoP)  and is required to carry out  its  sales  and  operations  through  the  workforce  of  the  DoP.  IPPB  will  be  responsible  for designing  the  products  and  services,  defining  the  technology  and  service  delivery  platforms, marketing  and  third  party  tie-ups,  setting  and  monitoring  the  service  quality  standards,  handling customer grievances, managing the risks of the banking operations, and dealing with statutory and regulatory compliances etc.

IPPB  would be offering the payment bank services to the rural population using Door Step (Assisted)  Banking  along  with  the  regular  counter  services  through  the  Postmen/Gramin  Dak Sewaks ( GDS)  and Postal Assistants .

(b) The  details  of  the  funds  allocated    by  IPPB  to    circles  including  Gujarat  circle    are  at Annexure - I.

(c) The  details  of  the  number  of  branches  and  access  points  opened  across  the  country including West Bengal, Kerala and Maharashtra  are  at Annexure- II.

(d) The details of the  facilities provided  by the  bank  are:

- (i) IPPB  is  offering  a  range  of  products  such  as  savings  and  current  accounts, remittances and money transfer, direct benefit transfers, bill and utility payments, and enterprise and merchant payments.
- (ii) These  products,  and  related  services,  are  being  offered  across  multiple  channels ( Counter Services, Micro- ATM , Mobile Banking App. SMS and IVR), using a bank grade, cutting  edge technology platform.
- (iii)    Third - Party Products: Based on the payments bank guidelines, IPPB has partnered with financial organizations to provide loans, investment and insurance products. IPPB has partnered with  i) Bajaj Allianz life Insurance for the distribution of Life Insurance products such as term insurance which are complimentary to Postal Life  Insurance products and ii) PNB  MetLife Insurance for the distribution of  PMJJBY,  the governments' flagship insurance program.

IPPB shall provide these services through  1.55 lakh post offices.

(e) & (f) It  is  proposed    all  the  1.55  lakh  post  offices  shall  be  linked  with  IPPB    subject  to feasibility by 31/12/2018,  and provide the postal banking services through  counter and doorstep services.

(g).     No Madam there is no such proposal. However IPPB shall provide these services across the country  through  1.55 lakh post offices.

Para (b) - Details of the funds  allotted to  Postal  circles* for setting up of India Post Payments bank including  Gujarat  Circle  by IPPB.

| Sl No   | Name of the Circle                                                                                           |   Funds allotted in Rs lakhs |
|---------|--------------------------------------------------------------------------------------------------------------|------------------------------|
| 1       | Andhra Pradesh                                                                                               |                       431.41 |
| 2       | Assam                                                                                                        |                       185.59 |
| 3       | Bihar                                                                                                        |                       414.23 |
| 4       | Chhattisgarh                                                                                                 |                       157.51 |
| 5       | Delhi                                                                                                        |                        68.17 |
| 6       | Gujarat ( including 2 UTs Daman & Diu, Dadra & Nagar Haveli)                                                 |                       410.42 |
| 7       | Haryana                                                                                                      |                       168.77 |
| 8       | Himachal Pradesh                                                                                             |                       143.29 |
| 9       | Jammu & Kashmir                                                                                              |                        88.28 |
| 10      | Jharkhand                                                                                                    |                       159.73 |
| 11      | Karnataka                                                                                                    |                       467.86 |
| 12      | Kerala( including UT Lakshadweep)                                                                            |                       309.77 |
| 13      | Maharashtra ( including Goa State)                                                                           |                       641    |
| 14      | Madhya Pradesh                                                                                               |                       369.41 |
| 15      | North East ( consisting of 6 states namely Arunachal Pradesh, Manipur, Meghalaya Mizoram, Nagaland, Tripura) |                       242.56 |
| 16      | Odhisa                                                                                                       |                       397.95 |
| 17      | Punjab ( including UT - Chandigarh)                                                                          |                       233.81 |
| 18      | Rajasthan                                                                                                    |                       438.59 |
| 19      | Tamilnadu ( including UT Puducherry)                                                                         |                       617.02 |
| 20      | Telangana                                                                                                    |                       250.64 |
| 21      | Uttarakhand                                                                                                  |                       136    |
| 22      | Uttar Pradesh                                                                                                |                       811.11 |
| 23      | West Bengal (including Sikkim and UT Andaman & Nicobar)                                                      |                       438.76 |
|         | Total                                                                                                        |                      7581.86 |

## Annexure- II

Para (c) - Details of the number of  IPPB branches and Access Points opened across the country State-wise/UT Wise including West Bengal, Kerala and Maharashtra  as on  07/12/2018

| Sl No   | Circle               | Number of Branches   | Access Points Live   |
|---------|----------------------|----------------------|----------------------|
| 1       | Andhra Pradesh       | 24                   | 1311                 |
| 2       | Arunachal Pradesh    | 10                   | 42                   |
| 3       | Assam                | 26                   | 178                  |
| 4       | Bihar                | 38                   | 772                  |
| 5       | Chattisgarh          | 27                   | 135                  |
| 6       | Gujarat              | 30                   | 4677                 |
| 7       | Goa                  | 1                    | 193                  |
| 8       | Haryana              | 20                   | 367                  |
| 9       | Himachal Pradesh     | 12                   | 179                  |
| 10      | Jammu & Kashmir      | 8                    | 40                   |
| 11      | Jharkhand            | 22                   | 223                  |
| 12      | Karnataka            | 31                   | 713                  |
| 13      | Kerala               | 14                   | 369                  |
| 14      | Madhya Pradesh       | 42                   | 768                  |
| 15      | Maharashtra          | 41                   | 592                  |
| 16      | Manipur              | 9                    | 39                   |
| 17      | Meghalaya            | 8                    | 37                   |
| 18      | Mizoram              | 6                    | 29                   |
| 19      | Nagaland             | 9                    | 41                   |
| 20      | Odhisa               | 33                   | 346                  |
| 21      | Punjab               | 22                   | 254                  |
| 22      | Sikkim               | 1                    | 5                    |
| 23      | Rajasthan            | 33                   | 461                  |
| 24      | Tripura              | 5                    | 73                   |
| 25      | Tamilnadu            | 37                   | 900                  |
| 26      | Telangana            | 23                   | 644                  |
| 27      | Uttar Pradesh        | 73                   | 499                  |
| 28      | Uttarakhand          | 12                   | 167                  |
| 29      | West Bengal          | 25                   | 404                  |
|         | Union Territories    |                      |                      |
| 1       | Andaman & Nicobar    | 1                    | 1                    |
| 2       | Chandigarh           | 1                    | 31                   |
| 3       | Delhi                | 3                    | 192                  |
| 4       | Diu & Daman          | 1                    | 1                    |
| 5       | Dadra & Nagar Haveli | 1                    | 10                   |
| 6       | Lakshadweep          | 1                    | 1                    |
| 7       | Puducherry           | 1                    | 20                   |
|         | Grand Total          | 650                  | 14706                |

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