Lok Sabha Question No. 4007 (UNSTARRED), answered on 2020-03-18
Subject: India Post Payment Bank
Ministry: COMMUNICATIONS
Asked by: Andimuthu Raja, Kripanath Mallah, V. Kalanidhi

## GOVERNMENT OF INDIA MINISTRY OF COMMUNICATIONS DEPARTMENT OF POSTS

## LOK  SABHA UNSTARRED QUESTION NO. 4007 TO BE ANSWERED ON 18 TH  MARCH, 2020

## INDIA POST PAYMENT BANK

## 4007. SHRI A. RAJA: SHRI KRIPANATH MALLAH: DR. KALANIDHI VEERASWAMY:

Will the Minister of COMMUNICATIONS be pleased to state:

- (a) the salient characteristics of India Post Payment Bank (IPPB);
- (b) the funds sanctioned, allocated and utilized thereunder during each of the last three years, State/ UT-wise;
- (c) the target set and achievement made by the Government so far thereunder in the country, State/ UT-wise especially in rural and far flung areas of Tamil Nadu;
- (d) the details of facilities provided to subscribers of IPPB; and
- ************ (e) whether the Government is planning to expand this scheme in the next five years and if so, the details thereof?

## ANSWER

## MINISTER OF STATE FOR COMMUNICATIONS, HUMAN RESOURCE DEVELOPMENT AND ELECTRONICS & INFORMATION TECHNOLOGY (SHRI SANJAY DHOTRE)

(a)  to    (e)    India  Post  Payment  Bank  is  a  100%  government  owned  Schedule-II  Payments  Bank offering  a  range  of  products  such  as  savings  and  current  accounts,  remittances  and  money  transfer, direct benefit transfers, bill and utility payments, enterprise & merchant payments and Aadhar Enabled Payment  System  (AePS).  These  products,  and  related  services,  are  being  offered  across  multiple channels (Counter Services, Micro-ATM, Mobile Banking App, SMS and IVR, and at the doorstep).

Total  funds  sanctioned  and  released  for  setting  up  and  day  to  day  operations  of  India  Post Payments  Bank  are  Rs.  1435  crores.  These  funds  have  been  allocated  to  IPPB  as  a  bank  and  not State/Districts wise. Details of the funds sanctioned and allocated are at Annexure-I. The scheme target of setting up of India Post Payments Bank has been achieved by launching of the Payment Bank and setting  up  of  650  branches  along  with  their  related  customer  access  points.  The  Government  has  a vision of enabling unbanked households with bank account by covering 4.25 crores households and of delivering banking services across 6.5 Lakh villages over the next five years.

-  Details of funds sanctioned, allocated and utilized as on 31 st  December, 2019.

| Details    | Allocation (In Crore)   | Allocation (In Crore)   | Allocation (In Crore)   | Utilization (In Crore)   | Utilization (In Crore)   | Utilization (In Crore)   |
|------------|-------------------------|-------------------------|-------------------------|--------------------------|--------------------------|--------------------------|
|            | Equity                  | Grant                   | Total                   | Equity                   | Grant                    | Total                    |
| FY 2016-17 | 275.00                  | 25.00                   | 300.00                  | 4.97                     | 1.25                     | 6.22                     |
| FY 2017-18 | 175.00                  | 375.00                  | 550.00                  | 5.04                     | 0.00                     | 5.04                     |
| FY 2018-19 | 585.00                  | 0.00                    | 585.00                  | 405.71                   | 360.60                   | 766.31                   |
| FY 2019-20 | 0.00                    | 0.00                    | 0.00                    | 359.34                   | 1.27                     | 360.61                   |
| Total      | 1035.00                 | 400.00                  | 1435.00                 | 775.06                   | 363.12                   | 1138.18                  |

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