Page 250 - ICDEBI2018

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456nternational Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101
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India Post Payments Bank (IPPB) is set up by the (IPPB) is set up by the accomplish much more by a trusted GDS/Postman at accomplish much more by a trusted GDS/Postman at
Department of Posts, Ministry of Communication, and rtment of Posts, Ministry of Communication, and the customers home or office premises This helps to the customers home or office premises This helps to
Government of India. This bank has been established Government of India. This bank has been established save time, effort and cost of travelling to the bank.save time, effort and cost of travelling to the bank.
to utilize the huge network of India post and the to utilize the huge network of India post and the
postmen to provide house to house banking services. postmen to provide house to house banking services. SWEEP facility: The RBI has permitted IPPB to link BI has permitted IPPB to link
All 3 lakh postmen and gramindaksevaks will be All 3 lakh postmen and gramindaksevaks will be the Post office saving account. There are more than 17 the Post office saving account. There are more than 17
equipped with mobile devices and will increase the ed with mobile devices and will increase the Crore of such accounts which could be linked with the Crore of such accounts which could be linked with the
customer base with the help of 1.55 lakh India Post customer base with the help of 1.55 lakh India Post IPPB account. As the payment bank has the IPPB account. As the payment bank has the
offices across the country which is nearly 2.5 times of offices across the country which is nearly 2.5 times of permission to accept the deposit of Rs. 1 lakh per permission to accept the deposit of Rs. 1 lakh per
the bank network. The post payments bank has an the bank network. The post payments bank has an account, the excess balance can be swept to the linked nce can be swept to the linked
advantage to link all its 17 crore post office savingsadvantage to link all its 17 crore post office savings POSA account.
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bank accounts.
Literature Review:
Apart from the all other facilities of payments bank, Apart from the all other facilities of payments bank, The bank is providing various services including The bank is providing various services including
IPPB provides a QR Code-based biometric card to its based biometric card to its Mobile banking, Phone banking, SMS banking, Mobile banking, Phone banking, SMS banking,
customers. The bank also provides the facility of customers. The bank also provides the facility of missed call banking etc. Bank also provides the missed call banking etc. Bank also provides the
sweep the balance between the IPPB saving account sweep the balance between the IPPB saving account various payment services. The unique feature of tvarious payment services. The unique feature of the
and the post saving bank account. This will help . This will help bank includes the doorstep banking and use of QR bank includes the doorstep banking and use of QR
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customer to maintain the balance of more than Rs. 1 customer to maintain the balance of more than Rs. 1 Card.
lakh which is the maximum limit of deposit set for the lakh which is the maximum limit of deposit set for the
payment bank. Financial Inclusion is “The process of ensuring access is “The process of ensuring access
and nd
to financial services and timely timely a a
adequate dequate
Unique Services offered by IPPB: credit where needed by vulnerable groups such as where needed by vulnerable groups such as
QR Card: It provides a unique, secure and It provides a unique, secure and weaker sections and low income groupsweaker sections and low income groups at an
convenient way to access bank account. Cusconvenient way to access bank account. Customer is affordable cost” (Rangarajan Committee, 2008).” (Rangarajan Committee, 2008).
not required to remember PIN/Password, as not required to remember PIN/Password, as
transactions can be initiated by using biometric transactions can be initiated by using biometric The department of post is financially not in good The department of post is financially not in good
authentication. authentication. Customers Customers can can perform perform cash cash condition. It has the deficit of 119.69 billion in the condition. It has the deficit of 119.69 billion in the
transactions, money transfer, bill payments, or transactions, money transfer, bill payments, or year 2016-17. As the beacon of inclusive banking, it 17. As the beacon of inclusive banking, it
cashless shopping using this card. To perform any cashless shopping using this card. To perform any appears that the choice of IPPB is seems to be appears that the choice of IPPB is seems to be
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transaction, customer simply has to scan the QR code stomer simply has to scan the QR code incorrect.
on the card and authenticate it through biometric on the card and authenticate it through biometric
verification. One of the key suggestions of the committee on ne of the key suggestions of the committee on
O
f
financial inclusion was to introduce specialized banks inancial inclusion was to introduce specialized banks
o
or ‘payments bank’ to cater to the lower income r ‘payments bank’ to cater to the lower income
groups and small businesses so that by January 1, roups and small businesses so that by January 1,
g
2016 each Indian resident can have a global b016 each Indian resident can have a global bank
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account.

Objectives:
1. To analyze the services provided by India Post To analyze the services provided by India Post
Payments Bank
2. To check the compatibility of the services To check the compatibility of the services
provided by the bank with the Vision and Mission rovided by the bank with the Vision and Mission
p
statement of the bank.
Doorstep Banking: IPPB provides the opportunity to IPPB provides the opportunity to
enjoy banking facilities at home with Doorstep enjoy banking facilities at home with Doorstep Data Collection:
banking services. The wide network of post offices banking services. The wide network of post offices The secondary data has been collected from the banks collected from the banks
and postal employees will make banking accessible to and postal employees will make banking accessible to official website, different articles from internet and official website, different articles from internet and
the remotest corners of the nation. This facility the remotest corners of the nation. This facility the newspaper.
enables to open a bank account, transfer funds, account, transfer funds,
deposit and withdraw cash, recharge or pay bills and deposit and withdraw cash, recharge or pay bills and

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