Ministry of Communications
India Post Payments Bank Celebrates 9th Foundation Day (IPPB Day 2026); Launches DakPay Sound Box for Merchants and New Digital Platforms for Customers
Posted On:
01 SEP 2026 7:50PM by PIB Delhi
India Post Payments Bank (IPPB) today marks its 9th Foundation Day, reaffirming its commitment to expanding accessible, inclusive and technology-enabled financial services across the country.
Established with the vision of bringing banking closer to every citizen, IPPB has leveraged the extensive reach of the India Post network and digital technology to build a distinctive last-mile financial services model. Over the past nine years, the Bank has emerged as an important platform connecting citizens with banking, digital payments, government benefits and other essential financial services.
As part of the 9th Foundation Day celebrations, IPPB announced the launch of DakPay Sound Box for Merchants, designed to simplify and strengthen everyday digital payment acceptance for merchants. The Bank also announced the launch of its Digital Insurance Technology Platform, designed to provide customers with a seamless pathway to insurance solutions by connecting them with opportunities across Life, Health and General Insurance. IPPB has also introduced a Digital Mutual Fund Platform, aimed at providing customers with a simple, accessible and seamless digital investment experience.
Together, these new platforms represent an important expansion of IPPB’s proposition from enabling everyday banking and payments to creating greater access to protection, investment and financial security.
Major Milestones (as on 31st March 2026)
- Pan-India customer base at 13.25 crore, with 77% in rural areas and 49% women customers. These customers have trusted the Bank with deposits of ₹29,104 crore.
- ₹21.61 lakh crore of digital financial transactions, with ₹7.41 lakh crore value of UPI remittances.
- 6.5 crore DBT beneficiaries receiving benefits of approximately ₹1.55 lakh crore.
- 12.06 crore AePS transactions, with disbursement of ₹36,140 crore.
- 29.43 lakh Digital Life Certificates issued to pensioners.
- 9.47 crore Aadhaar Mobile Updates and 1.35 crore Bal Aadhaar enrolments.
Shri R. Viswesvaran, MD & CEO, IPPB, added, “Our 9th Foundation Day is not only a celebration of what IPPB has achieved, but also a launchpad for what we aspire to achieve in the years ahead. Today we are announcing the expansion of our technology capabilities to make digital payments, insurance and investments simpler and more accessible to the common citizen. The strength of IPPB lies in combining technology with the trust and reach of India Post, allowing us to take modern financial services to the last mile.”
To take the financial inclusion journey forward, IPPB rolled out three product variants during the last year:
- SHG Savings Account: A simple and secure banking solution designed specifically for Self Help Groups and rural micro-entrepreneurs.
- Surakshit Savings Account: Offers advanced protection with ₹25,000 cyber-insurance against phishing, spoofing and SIM jacking, along with the regular advantage of Premium Savings Account.
- Sampoorna Savings Account: Blends financial security, personal wellness and enhanced benefits by combining Aarogya wellness and Surakshit cyber protection along with the regular advantage of Premium Savings Account.
As IPPB enters its next year of growth, its focus remains on building a more connected and inclusive financial ecosystem by leveraging technology, interoperability and the extensive India Post network. So far, IPPB has recorded significant growth in digital payments, supporting the country’s broader transition towards a less-cash and digitally enabled economy.
About India Post Payments Bank
India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication, with 100% equity owned by the Government of India. IPPB was launched on September 1, 2018. The Bank has been set up with the vision to build the most accessible, affordable and trusted bank for the common man in India. The fundamental mandate of India Post Payments Bank is to remove barriers for the unbanked and underbanked and reach the last mile, leveraging the Postal network comprising approximately 1,65,000 Post Offices, including approximately 1,40,000 in rural areas, and around 3,00,000 Postal employees.
IPPB’s reach and operating model are built on the key pillars of India Stack, enabling Paperless, Cashless and Presence-less banking in a simple and secure manner at customers’ doorsteps through a CBS-integrated smartphone and biometric device. Leveraging frugal innovation and with a high focus on ease of banking for the masses, IPPB delivers simple and affordable banking solutions through intuitive interfaces available in 13 languages to more than 13 crore customers across 5.57 lakh villages and towns in India.
IPPB is committed to providing a fillip to a less-cash economy and contributing to the vision of Digital India. India will prosper when every citizen will have equal opportunity to become financially secure and empowered. IPPB’s motto stands true, “Every customer is important, every transaction is significant and every deposit is valuable.”
****
AMK/ NA
(Release ID: 2305689)
Visitor Counter : 783