{"id":5840,"date":"2019-09-09T10:25:25","date_gmt":"2019-09-09T10:25:25","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=5840"},"modified":"2019-09-09T10:25:27","modified_gmt":"2019-09-09T10:25:27","slug":"ippb-announces-rollout-of-aadhaar-enabled-payment-services","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/ippb-announces-rollout-of-aadhaar-enabled-payment-services\/","title":{"rendered":"IPPB Announces Rollout of Aadhaar Enabled Payment Services"},"content":{"rendered":"\n

The Union Minister for Communications, Electronics & IT and Law & Justice Shri Ravi Shankar Prasad announced the rollout of Aadhaar Enabled Payment System (AePS) Services by India Post Payments Bank (IPPB), giving a strong boost to its efforts in expanding access to financial services for millions of unbanked and underbanked customers. Speaking at the First Anniversary Celebrations of IPPB here, the Minister congratulated IPPB for achieving the milestone of 1 Crore customers and exhorted them to achieve 5 crore target in next one year. Referring to 440 Central schemes on-boarded to the DBT platform, Shri Prasad said that all these schemes must ride on IPPB platform too. He said, \u2018Inclusive\u2019 is the key mantra of the government and the department of Posts should strive for Banking the unbanked, funding the unfunded and securing the unsecured.<\/p>\n\n\n\n

Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\n

With the launch of AEPS services, IPPB has now become the\nsingle largest platform in the country for providing interoperable banking\nservices to the customers of ANY BANK by leveraging the last mile unprecedented\nreach of the Postal network.<\/p>\n\n\n\n

IPPB\u2019s unparalleled network complimented with robust\ninteroperable technology platform set up by National Payments Corporation of\nIndia (NPCI) is poised to take banking to each & every household across the\nremotest parts of the country. With AePS services any common person with a bank\naccount linked to Aadhaar can perform basic banking services such as cash\nwithdrawals and balance enquiry irrespective of the bank they hold their\naccount with. To avail these services, a customer with an Aadhaar linked\naccount can simply authenticate his\/her identity with fingerprint scan &\nAadhaar authentication to complete a transaction. AePS services are\nbank-agnostic and are driven by an inexpensive infrastructure enabling low cost\ndelivery of doorstep banking services to every section of the society without\ndiscrimination, thus bringing forth the dawn of a \u2018Truly Inclusive Financial\nSystem\u2019.<\/p>\n\n\n\n

Speaking about the launch of AePS services, Shri Prasad\nsaid, \u201cAs the biggest Financial Inclusion initiative in the world, Pradhan\nMantri Jan Dhan Yojana brought millions into the economic mainstream. There are\nover 34 crore Jan Dhan accounts out of which 22 crore account holders are in\nrural India. With IPPB\u2019s AePS Services, we now have the ability to provide\nInteroperable Doorstep banking services to customers of ANY BANK including the\n34 crore Jan Dhan account holders, by leveraging the unprecedented last mile\nreach of IPPB. This fulfills the Hon\u2019ble Prime Minister Shri Narendra Modi\u2019s\nvision set forth at the time of launch of IPPB last year of ushering in\neconomic transformation by bringing banks to the doorsteps of the villagers and\npoor. I wish IPPB and its management all the success in its future growth\njourney.\u201d<\/p>\n\n\n\n

Shri. A.N. Nanda, Secretary, Department of Posts said, \u201cIt\nhas been our belief that financial and banking services have a transformational\nimpact on the lives of people and communities. For a significant majority of\nthese people, the Postman and Grameen Dak Sevak (GDS) are the most important\nchannel for delivery of various financial services at the last mile, making\nIndia Post Payments Bank the most accessible, affordable and trusted bank for\nthem. The launch of AePS by India Post Payments Bank enhances the last mile\ninteroperable banking infrastructure by 2.5 times. The network brings doorstep\nbanking access to millions of underbanked customers and gives a fresh impetus\nto inclusion of customers facing accessibility challenges in the traditional\nbanking ecosystem.\u201d<\/p>\n\n\n\n

Shri Suresh Sethi, Managing Director & CEO, India Post\nPayments Bank said, \u201cWith the launch of AePS services, IPPB has now become the\nsingle largest interoperable platform in the country. By leveraging AePS\ncustomers can now access their accounts with ANY BANK by simply using their\nfingerprint for cash withdrawal and balance enquiry right at their doorstep\nthrough the Postmen and GDS. IPPB\u2019s services are now available across more than\n136,000 Post Offices and delivered by over 195,000 Postmen and GDSs. The\nability of the Postmen and GDS to reach every village on an almost daily basis\nhas brought down the distance to access banking services to \u20180 kms’, truly\ncapturing the essence of Aapka Bank, Aapke Dwaar.\u201d<\/p>\n\n\n\n

About India Post\nPayments Bank<\/strong><\/h4>\n\n\n\n

India Post Payments Bank (IPPB) has been established under\nthe Department of Posts, Ministry of Communication with 100% equity owned by\nGovernment of India. IPPB was launched by the Hon\u2019ble Prime Minister Shri\nNarendra Modi on September 1, 2018. The bank has been set up with the vision to\nbuild the most accessible, affordable and trusted bank for the common man in\nIndia. The fundamental mandate of India Post Payments Bank is to remove\nbarriers for the unbanked & underbanked and reach the last mile leveraging\nthe Postal network comprising 155,000 Post Offices (135,000 in rural areas) and\n300,000 Postal employees.<\/p>\n\n\n\n

IPPB\u2019s reach and its operating model is built on the key\npillars of India Stack – enabling Paperless, Cashless and Presence-less banking\nin a simple and secure manner at the customers’ doorstep, through a\nCBS-integrated smartphone and biometric device. Leveraging frugal innovation\nand with a high focus on ease of banking for the masses, IPPB delivers simple\nand affordable banking solutions through intuitive interfaces available in 13\nlanguages.<\/p>\n\n\n\n

IPPB is committed to provide a fillip to a less cash economy\nand contribute to the vision of Digital India. India will prosper when every\ncitizen will have equal opportunity to become financially secure and empowered.\nOur motto stands true – Every customer is important, every transaction is\nsignificant and every deposit is valuable.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Union Minister for Communications, Electronics & IT and Law & Justice Shri Ravi Shankar Prasad announced the rollout of Aadhaar Enabled Payment System (AePS) Services by India Post Payments Bank (IPPB), giving a strong boost to its efforts in expanding access to financial services for millions of unbanked and underbanked customers. Speaking at the […]<\/p>\n","protected":false},"author":13,"featured_media":5841,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[744],"class_list":["post-5840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-india-post-payments-bank"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=5840"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5840\/revisions"}],"predecessor-version":[{"id":5842,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5840\/revisions\/5842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/5841"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=5840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=5840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=5840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}