All India Association of Postmasters & Supervisors

Tirupati: In a major boost to rural banking, India Post is coming to the door-step of the customers with banking activities. The India Post Payments Bank (IPPB) launched its operations on January 30 in the country with the inauguration of two branches at Raipur and Ranchi simultaneously. The first branch of IPPB in south India will be opened at Chittoor later this month. The department claims that IPPB will become a game changer in the financial world.  The target of the India Post is to open 650 branches by September 30, 2017, in the country. It will be backed by its 1.55 lakh post offices as banking correspondents and is likely to become the biggest bank in the world. In the first stage, a branch of IPPB will be opened in the district headquarters. Later, it will be extended to other branches. It is expected to provide the much-needed banking facilities in unbanked and under-banked areas. In Chittoor district, HPO (head post office) is all getting ready for the in...

Press Information Bureau  Government of India Ministry of Communications & Information Technology 27-March-2017 12:45 IST More than 2 dozen companies want collaboration with India Post Payments Bank-Manoj Sinha  Government has said that there are many companies who have approached the Department of Posts for collaboration with India Post Payments Bank. Replying to a question in the Rajya Sabha, the Minister of Communications Shri Manoj Sinha said that while the Department is in various stages of discussions with them, decision on formal partnerships will be taken after carefully evaluating the entire value proposition that they propose for the common man. The India Post Payments Bank had launched its two branches in Raipur (Chhattisgarh) and Ranchi (Jharkhand) on 30/01/2017 with basic products and banking services in partnership with Punjab National Bank. Shri Sinha also said that the Payments Banks are different from regular Banks in the followin...

NEW DELHI: The Department of Post (DoP), which is racing against time to ready its Payment Bank, has had to re-tender its technology contract after it failed to get bids from any of the major Indian technology firms such as  Infosys ,   Wipro , TCS or the multinationals.   In its first attempt to find a technology vendor to build the backbone for its ambitious payment bank, DoP found itself in a single bid situation – with the lone application of  Polaris  India. The development may push the launch of the postal payment bank by another few months giving a lead to its rivals —  Paytm  and  Airtel  — which are about to start soon.  Officials of technology companies told ET that they decided to give the opportunity a miss since the contract didn’t make “business sense” and its terms and conditions were very “vague” and “open ended”. An executive of one of the top IT firms said that the department is under a lot of pressure to sta...

Work with India’s largest banking network and make a real difference. Explore the different ways you can become a banker to the nation. CHIEF EXECUTIVE OFFICER / MANAGING DIRECTOR : IPPB invites applications for the post of CEO/ MD of its soon to be launched payments bank. The candidate will be responsible for leading the organization in driving business, especially catering to rural/unbanked customers. Candidates with relevant qualification, experience and skills (as specified in the advertisement) are encouraged to apply for this position and spearhead the organization as it transforms India’s financial landscape. DOWNLOAD APPLICATION & DETAILS SCALES VII & CGM : Candidates with relevant qualifications, experience and skills with a minimum of 15/18 years experience may apply for full-time posts of GM (Finance), CGM(Operations), GM (HR), GM(Risk and Compliance) and CGM(Sales and Marketing).  Applications open from September 28 th , 2016 to October 19 th...

Hyderabad: A total of 51 Post Offices (POs) in Telangana State and Andhra Pradesh have been identified for functioning as payments bank branches, providing a slew of services, including distribution of financial products. These offices - 34 in Andhra Pradesh and 17 in Telangana - will operate as branches of India Post Payments Bank (IPPB).  IPPB came into existence after it received certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to start operations in 2017. Similarly, 17 POs have been identified for IPPB branches in Telangana. Of these, Hyderabad GPO will be operational as IPPB branch by March 2017 and remaining 16 by September 2017, Rai said. The benefits of IPPB include doorstep banking through postmen and Grameen Dak Sewaks, distribution of third party financial products like loans, insurance, pension products, mutual funds, international and domestic remittances, payment of utility bills, municipal dues, fees, governme...

Amul Managing Director R S Sodhi has been appointed as independent director on the board of India Post Payment Banks (IPPB) -- the payments bank arm of postal department. RS Sodhi (in picture) is one of the five independent members to be appointed on the board IPPB.  "GCMMF Managing Director R S Sodhi has been appointed independent director on the board of IPPB," an official source told PTI. Gujarat Cooperative Milk Marketing Federation (GCMMF) sells the Amul brand of milk products. Sodhi is one of the five independent members to be appointed on the board IPPB, which is set to be operational in March 2017. The board will have four in-house representatives. IPPB came into existence after it received certificate of incorporation from the Registrar of Companies on August 17. Payments bank allows mobile firms, supermarket chains, and others to cater to banking requirements of individuals and small businesses. It will be set up as a differentiate...

CLICK HERE TO VIEW

click here to view Minister's Letter

CLICK HERE