India Post Payments Bank 2024: 2.68 Crore Accounts Opened, 1.04 Crore Used Mobile Banking

The government announced on Friday that India Post Payments Bank (IPPB) opened 2.68 crore accounts in 2024 (through November), of which 1.56 crore, or 59%, were held by women and 77% were opened in rural areas of the nation.

During the January–November period, 1.04 crore users used mobile banking, 69 lakh used virtual debit card (VDC) services, and around 2,600 crore were paid out via AePS (Aadhaar Enabled Payment System).

3.62 Crore Users Received DBT

According to the Ministry of Communications, 4,40 lakh digital life certificates were given to pensioners between January and November, and about 3.62 crore IPPB users got direct benefit transfer (DBT) benefits of Rs 34,950 crore. Women make up about 58% of all DBT beneficiaries, and the bank is actively promoting women's empowerment in accordance with government directives.

Real-time Delivery Info 

The parcel monitoring application (PMA) transformed the sharing of real-time delivery information, from 4.33 lakh items in May 2019 to 5.35 crore pieces in October 2024.

400,000 KYC verifications Completed in 2024

As of October, 400,000 KYC verifications had been accomplished successfully by India Post Payments Bank.

The ministry claims that 42 significant mail exchange hubs have radio frequency identification (RFID) gates installed to enable real-time network tracking.

According to the report, "the creation of 233 nodal delivery centers has improved parcel delivery speed and efficiency, covering over 1600 PIN codes and handling 30% of total parcels delivered across India."

Defense personnel now have access to 110 operational Aadhaar centers located in Army Postal Service locations, including the highest center in Siachen.

Boosting Business Exports through India Post

More than 1,000 Dak Ghar Niryat Kendras (DNKs) have been established to facilitate business exports via postal channels throughout the nation. The Department of Posts ratified the Postal Payment Service Multilateral Agreement (PPSMA), which allows signatory parties to interchange electronic postal payment services.

On October 29, 25,133 people participated in the first tranche of the Rozgar Mela.

Service delivery was enhanced via the renovation of 95 postal buildings and the construction of 56 new ones, according to the Ministry.

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